NYSE$XPRO
Expro Group Holdings NV · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Expro reported strong operational performance and profitable growth, driven by a rebound of NLA activity and the acquisition of PRT Offshore.
Expro Group Holdings N.V. reported Q4 2023 revenue of $407 million, a 10% sequential increase, and a net loss of $12 million. Adjusted EBITDA was $85 million, up 70% sequentially, with an Adjusted EBITDA margin of 21%. The company anticipates revenues of between $1,600 million to $1,700 million in 2024.
- Revenue for the fourth quarter was $407 million, up 10% sequentially, driven by increased activity in North and Latin America and the acquisition of PRT Offshore.
- Net loss for the fourth quarter was $12 million, or $0.11 per diluted share, compared to a net loss of $14 million, or $0.13 per diluted share, for the third quarter of 2023.
- Adjusted EBITDA was $85 million, a sequential increase of $35 million, or 70%, driven by higher activity and lower unrecoverable costs within the light well intervention business.
- The company expects revenues of between $1,600 million to $1,700 million in 2024, with Adjusted EBITDA between $325 million and $375 million, and Adjusted EBITDA margin between 20% and 22%.
Headline financials
Revenue & EPS history
Frank's International · Revenue · Quarterly
$407M
Revenue by segment
Frank's International · $423M total across 2 segments · Q2 2025
- Well Management$281M—66.5%
- Well Construction$142M—33.5%
Forward guidance
Expro anticipates generating revenues of between $1,600 million to $1,700 million in 2024. Adjusted EBITDA in 2024 is expected to be between $325 million and $375 million, and Adjusted EBITDA margin is expected to be between 20% and 22%.
Tailwinds
- Expect improving profitability to drive improved cash flow generation.
- Capitalizing on tailwinds in the industry.
- Strong performance in 2023.
- Positive activity outlook.
- Proposed acquisition of Coretrax will be completed at the beginning of the third quarter.
Headwinds
- Revenue and profitability in the first quarter of 2024 are expected to be negatively impacted by the winter season in the Northern Hemisphere.
- Revenue and profitability in the first quarter of 2024 are expected to be negatively impacted by the budget cycles of our national oil company customers.
- First quarter revenue is expected to be within a range of $365 million and $375 million.
- First quarter Adjusted EBITDA is expected to be within a range of $63 million and $73 million.
- First quarter Adjusted EBITDA margin is expected to be approximately 18%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 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 |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| 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% | |
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| Q4 2011 | — | — | — | |
| Q1 2012 | — | — | — | |
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| Q2 2012 | — | — | — | |
| Q4 2012 | — | — | — |
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