Technip Energies shares fall after first-quarter net profit misses expectations (updated)

Technip Energies NV

30/04/2025 09:04

Recasts, adds share move and analysts comments paragraph 2, 4-5; rewrites throughout

By Anna Peverieri

April 30 (Reuters) - French energy infrastructure group Technip Energies TE.PA posted first-quarter net profit on Wednesday that fell short of market expectations, helping knock its shares lower.

Shares in the company were down 7.6% by 0720, ranking among the worst performers of France's mid-cap SBF 120 index SBF120 .SBF120.

The group, which specialises in technology for the energy sector, said its first-quarter net profit came in at 101 million euros ($114.9 million), below analysts' expectations of 109 million euros from a company-compiled consensus.

Bernstein said in a note to clients that the first-quarter performance of the company's technology, products and services (TPS) segment was "disappointing".

     TPS revenue for the period fell 5% year-on-year to 450 million euros, missing analysts' expectations of 522 million euros. The group lowered the bottom end of its annual revenue guidance for the division, citing macroeconomic uncertainties.

It now sees 2025 TPS revenue of between 1.8 billion and 2.2 billion euros, compared to its previous expectations of between 2.0 billion and 2.2 billion euros.

"As a result of the uncertainty surrounding policies and the macroeconomic environment, we have widened the revenue range for our shorter cycle segment - Technology, Products & Services," CEO Arnaud Pieton said in a statement.

The unit is more exposed to short-term volatility, Chief Financial Officer Bruno Vibert said on a media call.

"If there's uncertainty and volatility, it's always going to have a slightly greater impact on the TPS business than on the project business," he said.

Adjusted recurring earnings before interest and tax at the group rose 19% to 131.7 million euros, above analysts' expectations of 126 million euros on average, according to a company-compiled consensus.

Asked about the impact of U.S. tariffs, Vibert said the company's ongoing projects were not affected, adding that its portfolio in the U.S. included mainly service contracts.

($1 = 0.8787 euros)

 (Reporting by Anna Peverieri; Editing by Nia Williams and Jan Harvey)

 ((Anna.Peverieri@thomsonreuters.com;))