Subsea 7 sinks to $922 million loss

Subsea 7 has booked a major loss in Q2 2020 on restructuring and impairment charges as well as activity drop in the SURF and Conventional business units

The engineering and construction specialist recognised quarterly net loss of $922 million, against profit of $24 million in Q2 2019.

Diluted loss per share was $3.06 in Q2 2020 versus diluted earnings per share of $0.09 in Q2 2019.

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