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John Wood Affirms Annual Revenue Outlook

Engineering and technical services provider John Wood Group PLC (WDGJF.PK) on Tuesday confirmed its full-year revenue outlook in the range of $5.2 billion-$5.5 billion.

The company said trading in the first 10 months was in line with its expectations.

John Wood now sees EBITDA, or earnings before interest, taxes, depreciation, and amortization, in the middle of its guidance range $370 million-$400 million

Looking forward, Ken Gilmartin, CEO, said, "Our strategy will deliver returns for our shareholders and today we have set out new financial targets, including to grow EBITDA by mid to high single digit CAGR over the medium term, with momentum building over time as our strategy delivers. Most importantly, based on the highly cash generative nature of our underlying businesses, we expect positive free cash flow (after the impact of legacy cash outflows) from 2024 onwards."

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