Despite a relatively quiet quarter, Technip Energies was still able to beat the consensus estimates, especially in the TPS segment. While the short-cycle business is growing steadily, the LNG business may see another round of FIDs next year. Despite the annual decline, the impressive quarterly beat, the roadmap to growth and the strong governance all support a potential turnaround from the recent dip in the share price after a newspaper article alleged violation of the Russian sanctions.
