TGS tops STOXX as Q2 sales beat forecast

TGS ASA

08/07/2026 08:41

** Shares in TGS TGS.OL rise 8% to the top of STOXX index .STOXX after the Norwegian energy data and seismic services company issued its Q2 operational and financial update
** The company sees produced revenues reaching $400 million in Q2, versus a company collected consensus estimate of $359 million
** Clients are "gradually placing greater focus on replenishing their reserves through increased exploration," TGS says
** Given the higher oil price and the stronger-than-expected results, we believe the stock could rise by more than 5%, SB1 Markets says in a note published in Swedbank Aktiellt service 
**  The brokerage also flags fleet capacity utilization of 94% and the number of ocean bottom node (OBN) vessels above TGS' own guidance 
** SB1 Markets says that cash EBITDA consensus could rise by 5% following today's update
** The stock is on track for its best day since April
     
     

(Reporting by Agnieszka Olenska)
((Agnieszka.Olenska@thomsonreuters.com;))