EMGS Rapporterar högt över förväntningarna!
2011-11-17 09:27Please note: Community posts are written by its members and not by Redeye’s research department. As a reader you’re always encouraged to critically analyze the content.
EMGS, Electromagnetic Geoserices rapporterade idag! 20% över förväntningarna!
All in all, a strong report (better than expected Q3 and increased revenue guidance) that confirms the bull case. Warns of higher costs in Q4, and the lack on new contract awards mitigates the bullish news somewhat.
We are unlikely to make any significant changes in our bullish estimates, but consensus estimates are likely to come up slightly. The share is likely to open up slightly on the report.
- Q3 EBITDA of USD12m was slightly better than Consensus USD10m estimates (consensus seems to have been in line with our USD10m).+20%
- Strong reveneus of USD46m consensus was 38). +21%
- 2011 revenue guidance upped to "close to USD160m" (consensus was at USD149m), from USD150m.
- On a negative note, EMGS warns of somewhat higher costs in Q4 as well as a 3w yard time for one of the vessels in Q4.
