CGG - CGG STOCK NEWS

CGG reported a soft Q3 2022, with revenues of $255 million and segment revenues down 20% year-on-year to $217 million. However, 2022 segment revenue is projected around $900 million, stable year-on-year. The EBITDAs for the year are expected to be around $380 million, up 10%. There was a significant improvement in net loss, which decreased to $(2) million from $(16) million last year. Despite project shifts affecting segments like Sensing and Monitoring, anticipated growth in Earth Data sales could lead to a strong Q4. Liquidity stood at $325 million, with net debt reduced to $889 million.

CGG is set to announce its third quarter 2022 financial results on November 2, 2022, after market close. The press release and presentation will be available on its website at www.cgg.com at 5:45 PM CET. An analysts conference call will follow at 6:30 PM CET. Note that CGG has switched to a new conference call provider, and participants need to register to receive the dial-in information or join via a webcast. A conference call replay will be accessible for 12 months on the company's website.

CGG announced its total number of shares and voting rights as of September 30, 2022. The company has issued 712,357,321 shares, resulting in 714,189,092 actual voting rights and 714,214,088 theoretical voting rights.

All shares have uniform voting rights, except treasury shares and registered shares held for over two years, which receive double voting rights. This update complies with the French Financial Markets Authority regulations.

CGG has licensed its new GeoVerse™ Carbon Storage multi-client study to TotalEnergies, marking a significant endorsement for CGG's innovative data-driven screening studies aimed at enhancing decision-making in carbon storage. This licensing deal highlights CGG's expertise in geoscience and data integration, including advancements in machine learning and high-performance computing. The GeoVerse studies support energy transition efforts by assessing carbon and geothermal resources.

CGG, a French société anonyme, reported its shareholding details as of August 31, 2022. The total number of issued shares reached 712,357,321, with actual voting rights at 714,191,571 and theoretical voting rights at 714,216,567. The report highlights that all shares possess equal voting rights, excluding treasury shares. Additionally, shares held for over two years have double voting rights. The information complies with Article L. 233-8 II of the French Commercial Code and AMF regulations.

On September 12, 2022, CGG announced that Sercel has acquired the software business of ION Geophysical Corporation. This acquisition includes key software products such as Orca, Gator, Mesa, and Marlin, enhancing Sercel's software offerings and diversifying its operations in marine and land seismic applications. Sercel plans to maintain the acquired technology as a standalone business unit, leveraging ION's expertise in software solutions to expand its market presence. The acquisition is seen as a strategic move to broaden Sercel's portfolio and improve service capabilities.

CGG announced the sale of 12,000 GPR300 nodes to BGP Inc., following a previous order of 18,000 nodes in 2021. This brings the total to 30,000 nodes deployed for a major seismic survey project in the Middle East, marking it as the largest seabed seismic exploration project to date. The GPR300 nodes, noted for their high performance, are expected to enhance productivity in shallow water environments. Sercel's CEO emphasized the company's commitment to innovation and meeting market needs through advanced technology.

The press release from CGG provides essential updates regarding its issued shares and voting rights as of July 31, 2022. The company has a total of 712,357,321 issued shares. The actual voting rights count stands at 714,192,938, while the theoretical voting rights amount to 714,217,934. The report clarifies that all shares carry equal voting rights, excluding treasury shares and those held for over two years, which have enhanced voting rights.

CGG has released its interim financial report for the period ending June 30, 2022, which is now available on the company's website. The report was filed with the Autorité des Marchés Financiers (AMF). CGG, a global leader in technology and high-performance computing, specializes in Earth and data sciences, providing innovative solutions for sustainable development. The company employs approximately 3,300 people worldwide and is listed on the Euronext Paris.