Wood Group Sees Higher Annual Earnings
Wood is delivering brownfield modifications services to Equinor’s Martin Linge offshore installation on the Norwegian continental shelf. (Photo: Jan Arne Wold / Woldcam / Equinor)
Oilfield services provider John Wood Group Plc expects higher core earnings in 2019, with strong performance in its engineering services unit in the Middle East, Asia and the Caspian region offseting slowing U.S. onshore drilling demand.
The Aberdeen-headquartered company said on Thursday adjusted earnings before interest, tax, depreciation and amortization (EBITDA) is expected to be in a range of $850 million to $860 million for the year ended Dec. 31, compared with $693.8 million a year earlier.
(Reporting by Shanima A in Bengaluru; Editing by Subhranshu Sahu)
