TGS: Library Sales Light The Fuse--Margins Rebound [Seeking Alpha]
TGS ASA S/ADR (TGSGY)
NASDAQ:AMEX Investor Relations:
tgs.com/investor-center
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Source: Seeking Alpha
Q3 revenue rose 26% quarter on quarter and EBIT margin jumped from -7% to 27%, reversing the weak Q2. The beat came from higher margin vintage library sales, a sharp drop in amortization, and smoother Marine utilization. Orders of 436m and backlog of 473m improved visibility; imaging is scaling toward 100m next year; capex cut to 110m. Near term risk is tied to oil prices and may be volatile; long term is positive, but I rate the stock a hold for now due to low upside and risk setup. Victor Ganin/iStock via Getty Images Introduction TGS ASA momentum has improved substantially the past month. TGS is up the last month and the last three months it is up more than 20%. TGS started the year off bad, and is This article was written by Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opini
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