Subsea 7 (GB:0OGK) has released an update.
Subsea 7 reports a significant increase in its second quarter performance for 2024, with an 80% jump in Adjusted EBITDA to $292 million and a record order backlog of $12.5 billion, indicating a strong demand for the coming years. The company’s revenue guidance has been raised to between $6.5 and $6.8 billion, with expectations of an Adjusted EBITDA margin improvement to over 20% by 2026. These results reflect the company’s operational excellence and management’s confidence in sustained financial growth and shareholder returns.
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