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
Marine Technology Magazine Cover Mar 2020 -

Marine Technology Reporter is the world's largest audited subsea industry publication serving the offshore energy, subsea defense and scientific communities.

Marine Technology ENews subscription

Marine Technology ENews is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for MTR E-news