TGS Q4 Revenue Misses Forecast

Norway’s TGS, a supplier of seismic data to the global oil industry, reported lower-than-expected fourth-quarter revenue on Thursday.

So-called net segment revenue hit $230 million for the October-December period, while analysts on average had expected revenue of $257 million, according to forecasts published by Refinitiv.

TGS did not provide a year-ago comparison for the fourth quarter, but said full-year revenue was up 16.2% from 2018 and that the sales outlook for the first quarter of 2020 was “promising”.

Source: OE

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