OB:SUBCEnergy Services
Subsea 7 (OB:SUBC) Stock Rallies Around Margin Strength And Premium Payout
Subsea 7 stock has lost ground over the last month and quarter, yet today’s Q2 release delivered the kind of margin story that usually commands a premium. Adjusted earnings before interest, tax, depreciation and amortisation margin landed around 24% on revenue of about US$1.9b, with net income of US$253.9m. The share price softness sits awkwardly against a business that just printed higher profitability and now carries a trailing P/E of 16.2x, well above Norwegian energy services peers. The...