NYSE$XPRO
Expro Group Holdings NV · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Announced third quarter 2023 results, showing a decrease in net income compared to the previous quarter, but an increase in revenue year-over-year.
Expro Group Holdings N.V. reported revenue of $370 million, a net loss of $14 million, and adjusted EBITDA of $50 million for the third quarter of 2023. The results were impacted by lower activity in NLA, suspension of vessel-deployed LWI operations, and structural challenges in the U.S. onshore market.
- Revenue was $370 million, down 7% sequentially and up 11% year-over-year.
- Net loss was $14 million, compared to net income of $9 million in Q2 2023 and net loss of $18 million in Q3 2022.
- Adjusted EBITDA was $50 million, down 31% sequentially and up 4% year-over-year.
- Net cash provided by operating activities was $59 million, compared to $25 million in Q2 2023.
Headline financials
Revenue & EPS history
Frank's International · Revenue · Quarterly
$370M
Forward guidance
Expro anticipates a rebound in NLA offshore activity in the coming quarters, but expects structural challenges in the U.S. onshore market to require structural solutions. Capital expenditures are planned in the range of approximately $30 million to $40 million for the remainder of 2023.
Tailwinds
- International and offshore markets expected to be resilient.
- Increased upstream spending supporting a multi-year growth phase.
- Anticipating a rebound in NLA offshore activity in the coming quarters.
- Expansion of subsea well access sector in NLA.
- Acceleration of PRT Offshore’s surface equipment offering in the Europe and Sub-Saharan Africa (“ESSA”) and Asia Pacific (“APAC”) regions.
Headwinds
- Near-term volatility in energy services.
- Sequentially lower activity in the U.S.
- Short-term softness in the U.S. Gulf of Mexico.
- Structural challenges for tubular running services (TRS) business in the U.S. onshore markets.
- Suspension of vessel-deployed LWI operations.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-0.4%
Avg return
Earnings day
-1.9%
Avg return
5 days after
-2.3%
Avg return
30 days after
57%
21 / 37 earnings
Positive
+17.0%
Q4 2020
Best reaction
-17.4%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.2% | -14.8% | -8.1% | |
| Q4 2025 | +6.1% | +5.9% | -0.6% | |
| Q3 2025 | +0.1% | +2.7% | +2.1% | |
| Q1 2025 | +2.9% | -0.7% | +3.5% | |
| Q4 2024 | -0.4% | -8.7% | -19.0% | |
| Q3 2024 | -8.8% | -13.7% | -10.1% | |
| Q2 2024 | +1.1% | -5.8% | -13.2% | |
| Q1 2024 | +3.8% | -2.4% | +12.7% | |
| Q4 2023 | +0.5% | -3.7% | +1.3% | |
| Q3 2023 | -17.4% | -21.8% | -21.5% | |
| Q2 2023 | -5.5% | -3.7% | -0.4% | |
| Q1 2023 | -5.2% | -1.7% | +0.9% | |
| Q4 2022 | +4.1% | +15.1% | -10.3% | |
| Q3 2022 | +2.2% | +3.7% | +1.8% | |
| Q2 2022 | -3.1% | +9.5% | +17.9% | |
| Q1 2022 | -8.5% | -21.8% | -7.8% | |
| Q4 2021 | -1.6% | +8.5% | +11.0% | |
| Q3 2021 | +2.4% | +1.3% | -22.7% | |
| Q2 2021 | +4.5% | +6.4% | +13.2% | |
| Q1 2021 | +1.4% | +6.6% | -7.1% | |
| Q4 2020 | +17.0% | +30.5% | +2.9% | |
| Q3 2020 | +2.7% | -8.2% | +45.1% | |
| Q2 2020 | +0.8% | +12.6% | +0.8% | |
| Q1 2020 | +7.0% | -8.9% | +32.2% | |
| Q3 2019 | +0.4% | +2.4% | -8.1% | |
| Q2 2019 | +0.8% | -6.0% | -13.0% | |
| Q1 2019 | -6.6% | -0.5% | -0.7% | |
| Q3 2018 | +5.5% | +7.2% | -9.8% | |
| Q2 2018 | +2.6% | -1.5% | -5.6% | |
| Q1 2018 | -2.3% | -0.8% | +0.9% | |
| Q4 2017 | -1.9% | -16.8% | -13.9% | |
| Q3 2017 | +5.9% | +3.3% | -2.4% | |
| Q2 2017 | -8.9% | -10.5% | -17.0% | |
| Q1 2017 | +2.1% | -2.9% | -12.1% | |
| Q4 2016 | -0.9% | -2.3% | -19.9% | |
| Q3 2016 | -1.1% | -5.7% | +11.7% | |
| Q2 2016 | -16.4% | -21.4% | -20.0% | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q4 2012 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro