The earnings call highlighted significant growth in EBITDA and strong order intake, along with increased backlog visibility. However, these positives were tempered by modest revenue growth and increased net debt. The sentiment is slightly more weighted towards positive due to strong EBITDA growth and order intake.

Company Guidance

During the Subsea 7 Q2 2025 results conference call, the company reiterated its fiscal 2025 guidance, highlighting a projected revenue range of $6.8 billion to $7.2 billion and an adjusted EBITDA margin between 18% and 20%. The second quarter saw a 23% year-on-year increase in adjusted EBITDA, reaching $360 million, and a margin exceeding 20%. Order intake was robust at $2.5 billion, resulting in a book-to-bill ratio of 1.4x for the quarter and 1x for the first half. The company's backlog for the remainder of 2025 stands at $3.6 billion, providing over 90% visibility on full-year revenue. Financial performance was bolstered by high activity levels across key regions, with notable contributions from Brazil, the U.S., Turkey, and Norway. Subsea and Conventional division revenue was $1.4 billion, with an adjusted EBITDA margin rising to 21%. The Renewables segment also saw a revenue increase to $307 million, with an adjusted EBITDA margin of 17%. Additionally, Subsea 7 confirmed its proposed merger with Saipem is progressing, with an EGM scheduled for September 25, 2025, and emphasized its strategic focus on long-cycle projects in advantageous regions.

Strong EBITDA Growth

Subsea 7 delivered a second quarter adjusted EBITDA of $360 million, representing a 23% growth year-on-year and a margin of over 20%.

High Order Intake

Order intake was $2.5 billion for the quarter, resulting in a book-to-bill of 1.4x for the quarter and 1x for the half year.

Increased Backlog Visibility

The company has a combined backlog for execution in the remainder of 2025 of $3.6 billion, providing over 90% visibility on full-year revenue.

Subsea and Conventional Segment Performance

Subsea and Conventional reported revenue of $1.4 billion, flat year-on-year, with an adjusted EBITDA margin of 21%, an increase of 400 basis points from the prior year.

Renewables Performance Improvement

Renewables segment revenue was $307 million, up 9% year-on-year, with an adjusted EBITDA margin of 17%, up from 14% in Q2 2024.

Subsea 7 (SUBCY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

SUBCY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 20, 2025	2025 (Q3)	0.44 / -	0.31	―	―	―
Jul 31, 2025	2025 (Q2)	0.36 / 0.45	0.2	125.00% (+0.25)
Apr 30, 2025	2025 (Q1)	0.07 / 0.06	0.09	-33.33% (-0.03)
Feb 27, 2025	2024 (Q4)	0.24 / 0.07	-0.06	216.67% (+0.13)
Nov 21, 2024	2024 (Q3)	0.24 / 0.31	0.11	181.82% (+0.20)
Jul 25, 2024	2024 (Q2)	0.19 / 0.20	0.06	233.33% (+0.14)
Apr 25, 2024	2024 (Q1)	-0.08 / 0.09	-0.07	228.57% (+0.16)
Feb 29, 2024	2023 (Q4)	0.17 / -0.06	0.09	-166.67% (-0.15)
Nov 16, 2023	2023 (Q3)	0.09 / 0.11	0.01	1000.00% (+0.10)
Jul 26, 2023	2023 (Q2)	0.01 / 0.06	0.061	-1.64% (>-0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SUBCY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$19.31	$19.42	+0.57%
Apr 30, 2025	$14.42	$14.33	-0.62%
Feb 27, 2025	$15.28	$15.23	-0.33%
Nov 21, 2024	$15.91	$15.90	-0.06%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Subsea 7 (SUBCY) report earnings?

Subsea 7 (SUBCY) is schdueled to report earning on Nov 20, 2025, Before Open (Confirmed).

What is Subsea 7 (SUBCY) earnings time?

Subsea 7 (SUBCY) earnings time is at Nov 20, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is SUBCY EPS forecast?

SUBCY EPS forecast for the fiscal quarter 2025 (Q3) is 0.44.

Become an Expert with TipRanks Premium

What am I Missing?

Make informed decisions based on Top Analysts' activity

Know what industry insiders are buying

Get actionable alerts from top Wall Street Analysts

Find out before anyone else which stock is going to shoot up

Get powerful stock screeners & detailed portfolio analysis

Subscribe Now See Plans & Pricing