SUBCY's new contract covers transportation and installation of the flow line, umbilical and other subsea components associated with the subsea tieback platform.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Subsea7 (SUBCY) is responsible for the engineering, procurement, construction and offshore installation of subsea infrastructure for the U.S. Gulf of Mexico project.
Subsea7's (SUBCY) contract for the Murlach development in the UK North Sea includes the design and installation of subsea pipelines and production systems.
Their super-major projects are in their early stages. Margins and profits are already growing, but they will grow much more when the big projects mature. The key thing to keep in mind is always that in their later stages, these EPC projects become significantly more profitable. Still a relative case against FTI, with earnings and end-markets continuing to head in the right direction. Concerns aren't major at this point.
Subsea 7 S.A. (OTCPK:SUBCY) Q2 2024 Earnings Call July 25, 2024 7:00 AM ET Company Participants Katherine Tonks - Investor Relations John Evans - Chief Executive Officer Mark Foley - Chief Financial Officer Stuart Fitzgerald - Chief Executive Officer, Seaway 7 Conference Call Participants Guilherme Levy - Morgan Stanley Christopher Mollerlokken - Sparebank 1 Markets Kate O'Sullivan - Citi Victoria McCulloch - RBC Richard Dawson - Berenberg Katherine Tonks Welcome, everyone, and thank you for joining us.
Subsea7 (SUBCY) is responsible for project management and installation of a 22km water injection pipeline and associated subsea infrastructure at the Bittern field.
Subsea 7 (SUBCY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).