CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and can afford the risks. Trading CFDs is high risk and is not suitable for everyone. Refer to our PDS and Target Market Determination. AFSL 513393
Open platformOpen platform

Expro beats Q3 revenue expectations

By Reuters News


Overview

  • Energy services firm's Q3 revenue beat analyst expectations

  • Company posted Q3 net loss of $5 mln as expenses increased

  • Company authorized new $100 mln share repurchase plan


Outlook

  • Company raises 2026 adjusted free cash flow guidance to $140-$150 mln

  • Company expects sequential improvement in Q4 revenue and adjusted EBITDA

  • Company lowers Q4 adjusted EBITDA expectations by about $20 mln due to project deferrals


Result Drivers

  • ENHANCED DRILLING ACQUISITION - Co said Q3 revenue growth in North and Latin America and Europe/Sub-Saharan Africa was mainly driven by the Enhanced Drilling acquisition and higher well construction and flow management activity

  • COST DISCIPLINE AND SEGMENT REALIGNMENT - Co attributed cash flow to increased capital discipline, improved collections, and segment realignment including creation of AMENA region


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$439.94 mln

$433.83 mln (4 Analysts)

Q3 Net Loss

$5.20 mln

Q3 Adjusted EBITDA

$91 mln

Q3 Operating income

$4.88 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the oil related services and equipment peer group is "buy."

  • Wall Street's median 12-month price target for Expro Ltd is $17.50, about 10.3% above its November 2 closing price of $15.87

  • The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago


Reuters Recommended Reads

  • Nov 2 - Valaris Ltd Q3 revenue rises 10% on drillship contracts

  • Nov 2 - Diamondback Energy Q3 revenue beats on higher oil output

  • Nov 2 - Tetra Technologies Q3 revenue beats estimates on international expansion, strong industrial chemical sales


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.