France's Viridien Q1 segment revenue falls on soft market, project delays

Viridien SA

05/05/2026 16:58

Overview

France advanced technology and Earth data firm's Q1 segment revenue fell 29% yr/yr amid soft market

Company posted a Q1 net loss of $10 mln, improving from $28 mln loss a year ago

Net cash flow turned positive at $26 mln, driven by disciplined cash management and receivables collection

Outlook

Viridien reiterates FY 2026 guidance of $100m Net Cash Flow generation

Company expects performance to be weighted toward H2, mirroring 2025 seasonality

Company says Middle East conflict may cause near-term project delays

Result Drivers

SOFT MARKET - Co said segment revenue decline reflected increased caution from E&P companies and a slow market start, per CEO Sophie Zurquiyah

CASH MANAGEMENT - Positive net cash flow was driven by disciplined cash management and efficient receivables collection, including recovery from PEMEX

PROJECT DELAYS - Geoscience revenue was down yr/yr due to delays in client project approvals, accentuated by Middle East conflict

Company press release: ID:nGNE5lym6h

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue (IFRS)
$200 mln
Q1 Segment Revenue
$214 mln
Q1 Net Income
-$9.8 mln
Q1 Segment Adjusted EBITDAs
$76 mln
Q1 Operating Income (IFRS)
$20 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and 1 "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 Viridien SA is €156.50, about 8.4% above its May 4 closing price of €144.40

The stock recently traded at 11 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.)