July 17, 2019 / 5:44 AM / a month ago

Aker Solutions' Q2 earnings beat forecasts

OSLO, July 17 (Reuters) - Oil services provider Aker Solutions said on Wednesday it continued to see high tendering activity in the offshore oil sector, but with continuous pressure on pricing, and reported second-quarter earnings that beat expectations.

Earnings before interest, tax, depreciation and amortization (EBITDA), excluding one-offs, rose to 629 million crowns ($73.32 million) from 441 million crowns a year ago, beating expectations by four analysts in a Refinitiv poll, which had on average expected 585 million crowns.

Order intake for the April-June period fell to 3.8 billion crowns from 5.7 billion crowns a year ago, while revenues rose to 7.5 billion crowns from 6.3 billion crowns, ahead of analysts’ expected revenues of 7.2 billion crowns. ($1 = 8.5791 Norwegian crowns) (Reporting by Victoria Klesty and Gwladys Fouche; Editing by Muralikumar Anantharaman)

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