Expro reports Q3 EPS 12c, consensus 24c

Reports Q3 revenue $411M, consensus $422.17M. CEO Michael Jardon noted, “Expro’s (XPRO) Q3 results once again demonstrate our commitment to operational excellence, innovation and free cash flow generation, even in a softer market backdrop, reflecting the continued resilience of our business and outstanding performance of our team. Q3 Adjusted EBITDA margin of 22.8% represents a continuous improvement in our goal of driving at least 25% margins. Additionally, and more importantly, we generated Adjusted free cash flow of $46M, or 11% of the quarter’s revenue. We have also returned another $25M to shareholders in the form of share repurchases, reaching our guided $40M for the year ahead of schedule. In addition to reporting solid Q3 results, Expro is raising our guidance on both Adjusted EBITDA and Adjusted free cash flow. We now expect Adjusted EBITDA to be $350M-$360M and Adjusted free cash flow to be $110M-$120M…These achievements, together with major contract wins and a strong safety record, underscore the dedication of our global team and our focus on delivering safe, efficient, and sustainable solutions. Looking ahead, we remain confident in our ability to navigate market challenges and capitalize on opportunities in our core international and offshore markets.”