Saipem: Guidance Likely Stays Affirmed Into Next Quarter Despite Hormuz

2026-06-23 10:00:51 ET

Saipem SpA ( SAPMF ) appears, even after analysts repeatedly asking for clarification, to be doing fine with relation to project delivery in the Middle East and being paid for such delivery. It also appears that with the Strait reopening apparently, disruption should be quite minimal in delivery of critical components that hadn't yet been required in the Strait. In terms of the guidance, it's been reaffirmed. Some ships have been released in some segments but increased in others, and there are remaining lease expenses associated to less profitable onshore projects in the legacy backlog that isn't contributing positively to EBIT....

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