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Saipem Spa (SAPMY)
:SAPMY
Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
0.02Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: 8.89%
|Next Earnings Date:Feb 25, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong performance in Q3 2024, with significant achievements in order intake, revenue growth, and cash flow generation. While there are challenges related to the temporary suspension in Saudi Arabia and legacy onshore projects, the company's upgraded guidance and robust backlog provide a positive outlook.Company Guidance
In the recent earnings call, Saipem executive Alessandro Puliti provided a robust outlook for the company's performance in 2024. For the third quarter, Saipem achieved the highest quarterly order intake since Q2 2019, with revenues reaching €3.7 billion, marking a 23% year-on-year increase. The company also reported an EBITDA of €340 million, reflecting a 48% year-on-year growth. The EBITDA margin improved by 40 basis points to 9.2%, supported by the E&C and drilling offshore activities. Saipem's net cash flow generation stood at €115 million, with a significant order intake of €6.4 billion, leading to a record high backlog of €33 billion. Based on these strong results, Saipem upgraded its 2024 guidance, expecting revenues to exceed €14 billion and EBITDA to surpass €1.3 billion, driven by the performance in offshore E&C and despite some impact from the temporary suspension of operations in Saudi Arabia.Record Order Intake and Backlog
Saipem recorded the highest quarterly order intake since Q2 2019, with an order intake of EUR 6.4 billion, and a backlog standing at EUR 33 billion, an all-time high.
Strong Revenue and EBITDA Growth
Q3 2024 revenue stood at EUR 3.7 billion, growing by 23% year-on-year and 10% quarter-on-quarter. EBITDA was EUR 340 million, increasing by 48% year-on-year and 14% quarter-on-quarter.
Positive Cash Flow and Debt Reduction
Generated EUR 115 million of net cash flow in Q3, with net debt decreasing despite an increase in lease liabilities. Operating cash flow reached EUR 731 million, more than tripling from the same period in 2023.
Upgraded 2024 Guidance
Revenue expected to exceed EUR 14 billion and EBITDA higher than EUR 1.3 billion, with free cash flow generation about 20% higher than the previous guidance.
Robust Performance in Offshore E&C
The Offshore E&C business showed significant growth, with revenues reaching EUR 5.5 billion, a 34% increase from last year, and an EBITDA margin improvement of 150 basis points.
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SAPMY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SAPMY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $0.45 | $0.44 | -2.22% |
| Jul 24, 2024 | $0.52 | $0.50 | -3.85% |
| Apr 22, 2024 | $0.48 | $0.47 | -2.08% |
| Feb 28, 2024 | $0.32 | $0.32 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Saipem Spa (SAPMY) report earnings?
Saipem Spa (SAPMY) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Saipem Spa (SAPMY) earnings time?
Saipem Spa (SAPMY) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SAPMY EPS forecast?
Currently, no data Available
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