Expro Group Holdings NV · Q4 2020 earnings

Briefing

Delivered solid sequential revenue growth primarily due to significant improvement in the Tubular Running Services segment and a strengthening backdrop in the U.S. land business.

Frank's International N.V. reported a revenue of $96.3 million for Q4 2020, a 14.1% increase over the prior period. The company's net loss was $8.2 million, an improvement of more than 70% over the prior period. Adjusted EBITDA for Q4 2020 was $4.6 million, and free cash flow was $11.6 million.

• Delivered fourth quarter revenue of $96.3 million, a 14.1% increase over the prior period, primarily driven by 22.9% sequential revenue improvement in our Tubular Running Services segment.
• Fourth quarter net loss of $8.2 million, an improvement of more than 70% over the prior period.
• Generated fourth quarter Adjusted EBITDA of $4.6 million, moving the company back into positive territory compared to the prior two quarters, with profitability improving across all operating segments due to higher customer activity levels and continued realization of cost savings.
• Fourth quarter cash flows from operating activities totaled $14.3 million generating free cash flow of $11.6 million driven by a relentless focus on working capital, cost reductions and reducing capital expenditures.

Headline financials

Revenue & EPS history

The company expects to see further gains as they move through the year. For 2021, they will remain focused on growing their Tubulars segment in select markets and continuing the expansion of their Cementing Equipment segment internationally. Will maintain a disciplined approach to their capital spending and stay focused on properly managing their overall cost structure.