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Earnings Call Summary | CGG Sponsored ADR(CGGYY.US) Q1 2024 Earnings Conference

Earnings Call Summary | CGG Sponsored ADR(CGGYY.US) Q1 2024 Earnings Conference

财报电话会议摘要 | CGG 赞助的 ADR (CGGYY.US) 2024 年第一季度财报会议
moomoo AI ·  05/14 20:04  · 电话会议

The following is a summary of the CGG (CGGYY) Q1 2024 Earnings Call Transcript:

以下是CGG(CGGYY)2024年第一季度财报电话会议记录的摘要:

Financial Performance:

财务业绩:

  • CGG reported a strong Q1 2024 with net cash flow generation being $13 million, with revenue reaching $273 million, a 30% YoY increase.

  • Geoscience revenue was up 11% YoY, accounting for $88 million, while Earth Data revenue increased by 50% YoY to $97 million.

  • Sensing & Monitoring sector witnessed a 35% YoY increase in revenue to $89 million, largely driven by high deliveries of land equipment.

  • Segment EBITDA was up 58% YoY at $106 million.

  • The company settled a long-standing dispute in India, providing a net amount of around $30 million.

  • CGG报告称,2024年第一季度表现强劲,净现金流为1300万美元,收入达到2.73亿美元,同比增长30%。

  • 地球科学收入同比增长11%,达到8,800万美元,而地球数据收入同比增长50%,达到9,700万美元。

  • 传感与监测行业的收入同比增长35%,达到8900万美元,这主要是由陆地设备的高交付量推动的。

  • 该细分市场的息税折旧摊销前利润同比增长58%,达到1.06亿美元。

  • 该公司解决了在印度长期存在的争议,净额约为3000万美元。

Business Progress:

业务进展:

  • CGG reported robust exploration activities globally with interest from clients across all geographies, contributing to the highest first quarter performance since 2018.

  • The company witnessed growth in Geoscience owing to high-end projects and increasing activity from national oil companies. Similarly, there was a growth in Sensing & Monitoring and Earth Data segments.

  • CGG plans to strategically invest in expanding their seismic reservoir assessment capabilities and is optimistic about delivering on their 2024 objectives.

  • The company established a new collaboration with Baker Hughes in the CCUS space. Progress on Sensing & Monitoring optimization plan is also reported.

  • CGG expects changes in clients' behaviors following the PGS, TGS merger and is adapting its strategies accordingly.

  • The AI Cloud Solution launch forms a part of the company's strategy to provide outcome as a service within high-performance computing markets.

  • CGG报告称,全球勘探活动强劲,所有地区的客户都对此感兴趣,这促成了自2018年以来第一季度的最高业绩。

  • 由于高端项目和国有石油公司活动的增加,该公司见证了地球科学领域的增长。同样,传感与监测和地球数据领域也有所增长。

  • CGG计划进行战略投资,扩大其地震储层评估能力,并对实现其2024年的目标持乐观态度。

  • 该公司与贝克休斯在CCUS领域建立了新的合作关系。还报告了传感与监控优化计划的进展。

  • CGG预计,在PGS和TGS合并之后,客户的行为将发生变化,并正在相应地调整其战略。

  • AI 云解决方案的推出是该公司在高性能计算市场中提供结果即服务的战略的一部分。

More details: CGG Sponsored ADR IR

更多详情: CGG 赞助的 ADR IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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