New Wave Media

January 9, 2020

TGS Q4 Revenue Misses Forecast

Seismic streamers - Image by DedMityay / Source: Adobe Stock

Seismic streamers - Image by DedMityay / Source: Adobe Stock

Norway's TGS, a supplier of seismic data to the global oil industry, reported lower-than-expected fourth-quarter revenue on Thursday.

So-called net segment revenue hit $230 million for the October-December period, while analysts on average had expected revenue of $257 million, according to forecasts published by Refinitiv.

TGS did not provide a year-ago comparison for the fourth quarter, but said full-year revenue was up 16.2% from 2018 and that the sales outlook for the first quarter of 2020 was "promising".


(Reporting by Terje Solsvik; Editing by Himani Sarkar)

oil industryrefinitivTerje Solsvik