France's Viridien Q2 segment revenue falls 15% on Middle East disruption

Viridien SA

30/07/2026 17:01

Overview
France-based Earth data firm's Q2 segment revenue fell 15% yr/yr, impacted by Middle East conflict
Company posted Q2 net loss of $26 mln, compared to profit a year earlier
Viridien generated positive net cash flow and reduced net debt in Q2

Outlook
Viridien maintains FY 2026 objective of generating $100m in Net Cash Flow
Company sees signs of data-led pick-up in emerging and frontier exploration
Viridien expects sustained deepwater acreage awards to support future demand for seismic data

Result Drivers
MIDDLE EAST CONFLICT - Ongoing conflict in the Middle East weighed on Sensing & Monitoring revenue, especially in oil & gas segments
PROJECT DELAYS - Geoscience revenue fell due to continued geopolitical uncertainty and capital discipline among E&P companies, leading to delays in project awards
ORDER INTAKE - Strong order intake in Geoscience and New Businesses within SMO partially offset declines, supporting backlog growth

Company press release: ID:nGNE8CF4gH

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$232 mln
$239 mln (1 Analyst)
Q2 Net Loss
 
$26 mln
 
Q2 Net Debt (including IFRS 16)
 
$835 mln
 
Q2 Operating Income
 
-$7 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "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 €142.50, about 78.9% above its July 29 closing price of €79.65
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
July 28 - Canada's Pulse Seismic Q2 revenue drops on lower data licensing
July 29 - Core Laboratories Q2 revenue falls as geopolitical disruptions weigh
July 30 - India's Reliance ramps up diesel exports to Europe, Brazil in July, sources say

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(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.)