Welcome to our dedicated page for CGG news (Ticker: CGG), a resource for investors and traders seeking the latest updates and insights on CGG stock.
Viridien reports recurring developments for an advanced technology, digital and Earth data company serving natural resource, digital, energy transition and infrastructure markets. Company updates commonly cover quarterly and annual results, cash generation, segment performance, capital expenditure, working capital, and the contribution of Geoscience and Earth Data activities.
News also tracks deleveraging actions, bond redemptions, senior secured notes, credit-rating updates, and regulated French market disclosures. Recurring governance and capital-structure notices include AMF voting-rights and share-count publications, Universal Registration Document filings, corporate governance reporting, and sustainability-information certification.
CGG announced its Q1 2024 results, highlighting a strong start to the year with a revenue of $273 million, up 30% year-on-year, and adjusted EBITDAs of $106 million, up 58% year-on-year.
Net cash-flow reached $30 million, and the company reported a group net loss of $3 million, an improvement from last year’s $16 million loss. Segment revenues showed notable growth across Geoscience ($88 million), Earth Data ($97 million), and Sensing & Monitoring ($89 million).
CGG also benefited from a recent credit rating upgrade by S&P Global Ratings. Despite some financial pressures, such as $16 million in fees from contractual vessel commitments, CGG has reaffirmed its 2024 financial targets.
CGG has launched an AI Cloud solution powered by NVIDIA to optimize AI and HPC workloads for data-intensive industries. The solution combines cutting-edge hardware with a tailored software environment and expert management to enhance client productivity and efficiency.
CGG has announced an alliance with Baker Hughes to offer carbon capture & storage solutions, aiming to support the rapid increase of CCS projects worldwide. The collaboration intends to provide high-quality end-to-end solutions for screening, selecting, characterizing, and monitoring potential carbon storage sites. By combining expertise and technologies, the alliance aims to provide efficient and cost-effective solutions for operators.
CGG, a French company, disclosed the total number of voting rights and shares as of April 30, 2024. The total number of issued shares is 713,676,258, with 715,923,854 actual voting rights and 715,948,850 theoretical voting rights. The company's shares have equal voting rights, excluding treasury shares and those held for over two years, which have double voting rights.
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