Aggreko taking stock after Q3 results

Aggreko is to review its North America specialist equipment business after disappointing results in Q3.

The temporary power provider said it was reviewing the carrying value of its specialist equipment business as further weakness in the North American oil and gas market weighed on quarterly underlying revenue.
Aggreko
The company said underlying revenue for Q3 ended Sept. 30th was 7 per cent behind last year, citing lower North American revenue due to ongoing weakness in upstream oil and gas with further pricing pressure and a reduction in gas volumes.

"Given this continued decline we are reviewing the carrying value of specialist equipment for the oil and gas market, notably our small gas generators," the company said in a statement.

Aggreko, whose plants are used to supplement base-load capacity, said it expected 2016 results to be broadly in-line with current market expectations, with pre-exceptional pretax profit of around 225 million pounds at current currency rates.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...