Oilfield Services Provider Wood Group Forecasts Lower FY Earnings
May 11 (Reuters) - Oilfield services provider John Wood Group Plc warned that full-year core earnings would be about 20 percent lower than the last year, as it had seen further margin pressure due to lower activity by customers.
The company said the expected fall in EBITA was in line with analysts' current expectations, which it put at about $377 million, according to a consensus it had compiled.
John Wood reported EBITA of $470 million last year.
(Reporting by Esha Vaish in Bengaluru; Editing by Sunil Nair)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Wood to Design Pioneering LNG Platform (Oct 17)
- Wood Group Wins Total Refinery Maintenance Contract (Oct 11)
- Ichthys LNG Subsea Contract Goes to Wood Group (Sep 06)