Celebrating: Subsea 7 celebrate good second quarter results
Subsea7 earnings outshine forecasts
Norwegian offshore engineering group Subsea 7 reported above forecast second-quarter core earnings today and said its markets were seen remaining strong until 2012.
Adjusted earnings EBITDA rose to $147 million in April-June from $91 million in the same period a year ago, wrote Reuters.
The result topped all nine forecasts from a Reuters poll of analysts, whose top prediction was $141 million.
"Our recent major contract award in Africa and ongoing high levels of tendering activity provide further support for a strong market through to 2012," Subsea 7 said in a statement.