Earnings ReportThe company reported Q3 EBITDA of approximately $88M, which was below the consensus of approximately $90M, and revenue of approximately $342M was about 5% below consensus.
Shallow Water SegmentA 3% Q3 EBITDA miss driven by continued weakness in the Shallow Water segment impacted the stock negatively.
Well Intervention PricingPricing for well intervention work is expected to largely stall in the medium term due to competition and market conditions.