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CGG anticipates 3Q19 revenue above US$350 million

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Oilfield Technology,

CGG expects its 3Q19 segment revenue to be above US$350 million, based on strong multi-client sales in the range of US$160 million (including transfer fees) and steady demand for geoscience technology and equipment.

Based on these estimates and considering current solid commercial outlook, CGG is raising its full-year 2019 guidance. The company's 2019 segment revenue is expected to increase by more than 10% y/y with segment EBITDAs margin around 50% and segment operating income around US$200 million.

As a result, CGG is expecting to generate positive Net Cash Flow this year, for the first time since 2012.

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