Modec has released its Q3 earnings. Here is a breakdown of the information Modec presented to its investors.
Modec, Inc., a company listed on the Tokyo Stock Exchange, specializes in the construction and operation of floating production, storage, and offloading (FPSO) systems for the oil and gas industry, with a focus on large-scale ultra-deepwater projects.
Modec’s latest earnings report for the nine months ending September 30, 2025, reveals a robust financial performance. The company reported a revenue increase of 11.9% year-on-year, reaching $3.35 billion. Operating profit rose by 19.5% to $305 million, while profit attributable to owners of the parent surged by 43.6% to $245 million.
Key highlights from the report include a significant increase in orders received, totaling $8.48 billion, driven by new contracts for FPSO construction and maintenance in Brazil and Guyana. Modec’s order backlog also grew by 47.4% compared to the previous year, indicating a strong pipeline of future projects. The company’s total assets increased slightly to $4.51 billion, while total equity rose to $1.38 billion, reflecting improved retained earnings.
Looking ahead, Modec’s management remains optimistic, forecasting a full-year revenue of $4.4 billion and a profit attributable to owners of the parent of $350 million. The company continues to capitalize on its competitive advantage in ultra-deepwater projects, positioning itself for sustained growth in the energy sector.
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