Saipem Operating Performance Holding Steady, but Long-Term Outlook Unremarkable
Saipem’s stock price hardly moved with the company’s announcement of quarterly results. While the long slide in revenue abated, with revenue of EUR 2.6 billion up about 7% quarter over quarter and beating consensus of about EUR 2.5 billion, Saipem remained at very low levels of profitability. However, Saipem is finally ahead of the curve in terms of right-sizing its business to an ever-shrinking level of global offshore oil and gas activity. The company generated operating losses throughout 2015...Saipem is a global contractor with local presence in Africa, Central Asia, America, the Middle East and South East Asia. Co. provides engineering, procurement, construction and installation services; and engineering, procurement and construction services to the oil and gas industry, both onshore and offshore, with a focus on projects, including activities in remote areas, in deep waters and on projects that involve difficult gas or crude supplies.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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