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Investing.com -- Shares in Dutch geological data firm Fugro (AS:FUGR) fell sharply Tuesday after it issued a profit warning and cut its first-quarter revenue and earnings outlook.
The company’s shares were down more than 14% in Amsterdam trading as of 08:18 GMT.
Fugro now expects Q1 revenue to decline by around 11%, down from 503 million euros a year earlier.
First-quarter EBIT is projected to be only slightly positive, compared to 44 million euros in the same period of 2024.
According to Belgian brokerage KBC Securities, the profit warning was largely driven by a mismatch with market expectations, as consensus had forecast a more modest 4.8% revenue drop, following 9% growth in Q1 last year.
"It seems the intensified tariff war with coinciding uncertainty and a diving oil price is hindering investment decisions in the traditional energy markets and offshore wind markets outside the U.S. too," the firm added.
KBC analysts downgraded Fugro shares to Under Review from Buy, despite the company’s reassurance about its full-year EBIT guide.