Welcome to our dedicated page for Geospace Technologies news (Ticker: GEOS), a resource for investors and traders seeking the latest updates and insights on Geospace Technologies stock.
Geospace Technologies Corp (GEOS) designs cutting-edge seismic solutions for energy exploration and geophysical monitoring. This page aggregates official news and press releases from the Houston-based innovator, known for its cableless nodal systems and global manufacturing footprint.
Key Resource for Industry Stakeholders: Access timely updates on GEOS's technological advancements, financial performance, and strategic initiatives. Investors and analysts will find essential information about seismic instrumentation developments, reservoir monitoring innovations, and international project deployments.
Comprehensive Coverage Includes: Quarterly earnings announcements, new product launches, major equipment contracts, and executive leadership updates. Content reflects GEOS's work in both land and marine environments across oil, gas, and renewable energy sectors.
Stay Informed: Bookmark this page for verified updates directly from Geospace Technologies and trusted financial news sources. Check regularly for insights into seismic technology trends and the company's evolving market position.
Geospace Technologies (NASDAQ: GEOS) announced its inclusion in the Russell 2000®, Russell 3000®, and Russell Micro-Cap® Indexes as part of the annual reconstitution effective July 1, 2024.
This inclusion is expected to enhance the company's visibility among investment professionals, expand its shareholder base, and increase liquidity in its stock. The Russell 2000® Index is a prominent benchmark for small-cap stocks, encompassing the 2,000 largest U.S.-traded stocks by market capitalization and style attributes.
Russell indexes are widely used by investment managers for index funds and as benchmarks for active investment strategies, with approximately US$10.5 trillion in assets benchmarked against them.
Membership in these indexes is updated annually and remains in place for one year.
Geospace Technologies reported a decrease in revenue for the second quarter of 2024 compared to the previous year, resulting in a net loss. However, the company achieved positive net income for the first six months of the fiscal year, indicating progress in profitability. The Oil and Gas Markets segment experienced a revenue decline due to low utilization of OBX and Mariner ocean bottom nodes, while the Adjacent Markets segment performed well. The Emerging Markets segment also contributed to revenue growth. The company appointed Richard Kelley as Chief Operating Officer and announced a $5 million stock repurchase program.
Geospace Technologies (NASDAQ: GEOS) will be releasing its second quarter fiscal year 2024 financial results on May 9, 2024, followed by a conference call on May 10, 2024. The conference call will be at 10:00 a.m. Eastern Time and can be accessed by dialing (800) 267-6316 for US participants and (203) 518-9814 for international participants. A replay will be available on the Investor Relations page of Geospace.com for 60 days.
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