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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  TGS-Nopec Geophysical Company ASA    TGS   NO0003078800

TGS-NOPEC GEOPHYSICAL COMPANY ASA

(TGS)
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TGS – Q3 2020 Revenue Update

10/08/2020 | 01:00am EST

OSLO, NORWAY (8 October 2020) - Based on preliminary reporting from operating units, TGS management expects net segment revenues for the third quarter of 2020 to be approximately USD 81 million.

Kristian Johansen, CEO at TGS, stated, “The market remained challenging during the third quarter with record low acquisition activity across the industry.  As late sales of seismic historically have been a reliable indicator of the direction of the state of the industry it is somewhat encouraging to see a 10% sequential growth in late sales in the third quarter. While we may see early signs of a gradual improvement, we plan for a strong capital discipline, supporting dividend and strategic investments”.

For more information, visit TGS.com or contact:

Fredrik Amundsen, CFO
Tel.: +47 995 89 882
E-mail: investor@tgs.com

About TGS
TGS provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions.

Forward Looking Statement
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices.  Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

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© GlobeNewswire 2020
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Financials (USD)
Sales 2020 421 M - -
Net income 2020 -153 M - -
Net cash 2020 190 M - -
P/E ratio 2020 -11,3x
Yield 2020 4,45%
Capitalization 1 727 M 1 726 M -
EV / Sales 2020 3,65x
EV / Sales 2021 3,53x
Nbr of Employees 666
Free-Float 64,0%
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Technical analysis trends TGS-NOPEC GEOPHYSICAL COMPANY ASA
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TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 10
Average target price 13,22 $
Last Close Price 14,73 $
Spread / Highest target 25,9%
Spread / Average Target -10,3%
Spread / Lowest Target -39,4%
EPS Revisions
Managers
NameTitle
Kristian Kuvaas Johansen Chief Executive Officer
Henry Haywood Hamilton Chairman
Jan Schoolmeesters Executive Vice President-Operations
Fredrik Amundsen Chief Financial Officer
Zhi Ming Li SVP-Data Processing, Research & Development
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