CGG Anticipates Q3 2019 Segment Revenue Above $350m and Upgrades its 2019 Financial Objectives

Source Press Release
Company CGG 
Tags Strategy - Corporate
Date September 02, 2019

CGG announced today that its third quarter 2019 segment revenue is expected to be above $350m, based on strong multi-client sales in the range of $160m (including transfer fees) and steady demand for Geoscience technology and Equipment.

Based on these estimates and considering current solid commercial outlook, CGG is raising its full-year 2019 guidance. The Company's 2019 segment revenue is expected to increase by more than 10% year on year with segment EBITDAs margin around 50% and segment operating income around $200m

As a result, CGG is expecting to generate positive Net Cash Flow this year, for the first time since 2012.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd