Technip Energies beats Q3 core profit forecasts as project delivery unit rebounds

(This story has been refiled to remove an incorrect image)

By Hugo Lhomedet and Rihab Latrache

Oct 29 (Reuters) - French engineering group Technip Energies reported third-quarter core profit above analysts' expectations on Thursday, as a recovery in its Project Delivery business offset weaker-than-expected revenue.

Technip Energies cut its profitability outlook for its Project Delivery business in July after higher logistics and operating costs linked to the Middle East weighed on earnings.

• Adjusted recurring core profit rose to €172.4 million ($191,71 million), above the €148 million expected, according to a company-compiled consensus

• Its adjusted revenue of €1.94 billion fell short of analysts' expectations of €2.08 billion

• Project Delivery core profits rose to €100.9 million from €23.8 million in the previous quarter, while the unit's margin recovered to 7.0% from 1.7%

• Chief Financial Officer Bruno Vibert told reporters that operations in the region had stabilised and that a "fairly significant" proportion of customers had agreed to cover additional costs incurred as a result of the disruption

• Vibert said negotiations with customers over the recovery of disruption-related costs were progressing and would continue into 2027 for some items

• The company said it maintained its 2026 targets

($1 = 0.8993 euros)

(Reporting by Hugo Lhomedet and Rihab Latrache in Gdansk; Editing by Leroy Leo)