PGS Dives 11% After Disappointing Q4 MultiClient Late Sales

• (PLX AI) - PGS shares fell more than 11% after fourth-quarter late-sales revenues missed analyst expectations.
• • MultiClient late sales revenues were approximately $81 million in Q4, as the winter season has become more challenging than expected, the company said
• • We continue to see insufficient cash flow to meet H2 debt maturities, expecting yet another refinancing, SEB analysts said, maintaining a sell rating on the stock