Dutch floating production specialist SBM Offshore on Thursday raised its full-year revenue and core profit guidance for the third time this year, citing a strong year-to-date performance driven by its turnkey unit.
The company lifted its directional revenue outlook for the year to about $7.9 billion from $7.6 billion, and said it expects 2026 directional earnings before interest, taxes, depreciation and amortisation to exceed $1.95 billion, up from the previous forecast of around $1.9 billion.
The turnkey unit, which builds and sells vessels to oil and gas companies, posted year-on-year sales growth of 132% to $4.6 billion, boosted by the sale of the floating production storage and offloading vessel (FPSO) One Guyana in February and other contracts.
"The FPSO market outlook remains strong, with 16 opportunities in our sweet spot expected over the next three years," CEO Oivind Tangen said in a statement.
Year-to-date directional revenue rose 77% to $6.3 billion, while directional net debt fell 36% from year-end 2025 to $3.6 billion.
The company cited strong fleet performance, producing more than 2 million barrels of oil equivalent per day with uptime of around 99%.
(Reuters - Reporting by Hugo Lhomedet and Dimitri Rhodes in Gdansk, editing by Izabela Niemiec)