Subsea 7 SA Lowers On FY 2013 EBITDA Guidance-Reuters

Thursday, 27 Jun 2013 01:44am EDT 

Reuters reported that Subsea 7 SA has cut its fiscal 2013 profit estimate due to increased costs for its Brazilian offshore GuarĂ¡-Lula project, the firm said. Subsea 7 SA no longer expects full year adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to improve compared with fiscal 2012 as a result. The Company reported adjusted EBITDA of USD1.13 Billion, for fiscal 2012. According to I/B/E/S estimates, analysts on average are expecting the Company to report EBITDA of USD1.61 billion for Fiscal 2013. 

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