GTT Orders Slow Down Amid Seasonal Third-Quarter Pause
Gaztransport & Technigaz (GTT), a French LNG shipping and storage engineering firm, has seen a slowdown in orders for its liquefied natural gas carrier technology. According to Berenberg, a European investment bank, this is due to the usual third-quarter pause, which typically occurs ahead of a company's update.
Berenberg expects GTT to report around €194 million in revenue from the third quarter and has maintained its 'buy' rating on the stock with a price target of €245. The bank attributes the decrease in orders to the typical slowdown experienced during this time period, which has been reflected in previous years.
Looking ahead to 2026, Berenberg forecasts that GTT's management will tighten guidance towards the high end of its current revenue and EBITDA ranges. This includes an expected revenue range of €740-€780 million and an EBITDA range of €490-€530 million. The bank has also raised its operating profit (EBIT) and earnings-per-share forecasts for 2026 and 2027, while keeping the 2028 forecast unchanged.