Luxembourg's Subsea 7 Q4 revenue rises 5% on vessel utilization rates

Subsea 7

26/02/2026 07:10

Overview

Luxembourg-based offshore engineering firm's Q4 revenue rose 5% yr/yr

Adjusted EBITDA for Q4 increased over 50%, reflecting strong segment performances

Company announced NOK 13.00 per share dividend, approximately $400 mln, payable May 2026

Outlook

Subsea 7 expects 2026 revenue between $7.0 bln and $7.4 bln

Company anticipates 2026 Adjusted EBITDA margin of approximately 22%

Subsea 7 plans capital expenditure of $350 to $380 mln in 2026

Result Drivers

SEGMENT PERFORMANCE - Strong performances in Subsea and Conventional and Renewables segments drove Q4 results

VESSEL UTILIZATION - High utilization rates of Subsea and Conventional vessels contributed to Q4 revenue growth

STRATEGIC EXECUTION - Differentiated strategy enabled high-quality contract wins and optimal project execution

Company press release: ID:nGNEbLYwKQ

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
$1.96 bln
Q4 Adjusted EBITDA
$477 mln
Q4 Adjusted EBITDA Margin
24.00%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 4 "hold" and 3 "sell" or "strong sell"

The average consensus recommendation for the oil related services and equipment peer group is "buy"

Wall Street's median 12-month price target for Subsea 7 SA is NOK248.00, about 6% below its February 25 closing price of NOK263.80

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 11 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)