Core Labs Q2 revenue beats estimates
Overview
Core Labs Q2 revenue of $130.2 mln beats analyst expectations, per LSEG data
Adjusted EPS for Q2 rises 33% sequentially, down 14% yr/yr
Co repurchased 237,632 shares valued at $2.7 mln, reduced net debt by $9.1 mln
Outlook
Core Labs projects Q3 revenue between $127.5 mln and $134.5 mln
Oilfield reservoir management services provider expects Q3 EPS to be $0.18 to $0.22
Core anticipates sequentially flat Q3 revenue for Reservoir Descriptions
Geopolitical issues and softer U.S. land activity present near-term challenges, according to co
Company sees soft U.S. market offset by international service growth
Result Drivers
INTERNATIONAL DEMAND - Sequential revenue growth driven by strengthened demand for services and products across international network
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $130.20 mln | $128.80 mln (4 Analysts) |
Q2 EPS | $0.22 |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the business support services peer group is "buy."
Wall Street's median 12-month price target for Core Laboratories Inc is $13.00, about 2.9% above its July 23 closing price of $12.62
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 17 three months ago
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