Subsea 7 S.A. (OTCPK:SUBCY) Q3 2024 Earnings Conference Call November 21, 2024 6:00 AM ET
Company Participants
Katherine Tonks – IR
John Evans – CEO
Mark Foley – CFO
Stuart Fitzgerald – CEO, Seaway 7
Conference Call Participants
Guilherme Levy – Morgan Stanley
Richard Dawson – Berenberg
Haakon Amundsen – ABG Sundal Collier
Kate O’Sullivan – Citi
Kevin Roger – Kepler Cheuvreux
Christopher Mollerlokken – SpareBank1 Markets
Daniel Thomson – BNP Paribas Exane
Mark Wilson – Jefferies
Operator
Good day, and thank you for standing by. Welcome to the Subsea7 Q3 2024 Results Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded.
I would now like to hand the conference over to your speaker today, Katherine Tonks. Please go ahead.
Katherine Tonks
Welcome everyone and thank you for joining us. With me on the call today are John Evans, our CEO; Mark Foley, our CFO; and Stuart Fitzgerald, CEO of Seaway 7. The results press release is available to download on our website along with the slides that we’ll be using during today’s call. And please note that some of the information discussed on the call today will include forward-looking statements that reflect our current views. These statements involve risks and uncertainties that may cause actual results or trends to differ materially from our forecast. For more information, please refer to the risk factors discussed in our annual report or in today’s quarterly press release.
I’ll now turn the call over to John.
John Evans
Thank you, Katherine, and good morning, everyone.
I will start with a summary of the third quarter before passing over to Mark for more details of the financial results. Turning to Slide 3, Subsea 7 delivered third quarter adjusted EBITDA of $321 million, a margin of 18%, up from 13% last year. We’re on track to meet full-year
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