EarningsQ1 2026 Earnings Report
DE:M4E Q1 2026 EPS Results
Actual EPS€0.08
Consensus EPS€0.23
Beat/MissMissed by -€0.15
One Year Ago EPS€0.10
DE:M4E Q1 2026 Revenue Results
Actual Revenue€315.78M
Expected Revenue€310.69M
Beat/MissBeat by +€5.10M
YoY Revenue Growth-5.96%
Earnings Announcement Details
QuarterQ1 2026
Date05/05/2026
TimeBefore Open
Conference CallTuesday, May 5, 2026
DE:M4E Upcoming Earnings
Expro Group Holdings's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q1 2026 Earnings Call Audio
DE:M4E Q1 2026 Earnings Call
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Q1 2026 Earnings Slide Deck
Q1 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a constructive and strategic tone: management reported solid core results despite seasonal headwinds and a modest working-capital-driven cash-flow shortfall, highlighted meaningful operational and technological achievements, and announced a strategically significant and accretive acquisition (Enhanced Drilling) expected to add >$50M of annual EBITDA and >$275M backlog. While near-term risks include seasonality, a ~$10–$15M Q2 revenue impact from the Middle East conflict with elevated EBITDA decrementals, and a Q1 working capital hit that reduced adjusted free cash flow to $3M, the company’s strong liquidity, net cash position, substantial Drive 25 cost savings (~$40M), clear M&A playbook, and unchanged full-year guidance underpin a positive outlook for H2 2026 and into 2027.Company Guidance
Quarterly Revenue and Adjusted EBITDA
Q1 2026 revenue of $368 million and adjusted EBITDA of $63 million, representing a 17.1% adjusted EBITDA margin.
Enhanced Drilling Acquisition
Announced acquisition of Enhanced Drilling for NOK 2 billion (~$215 million); transaction adds >$275 million of order backlog, expected to add >$50 million of annual run-rate adjusted EBITDA and has >30% adjusted EBITDA margins; transaction is immediately accretive to cash flows and EBITDA margins and expected to close in Q3 2026.
Drive 25 Efficiency Gains
Drive 25 cost efficiency program exceeded initial goals: initial target $25M then $30M, now close to $40 million of annualized cost reductions; company expects full impact in 2026, supporting margin expansion goals.
Liquidity and Balance Sheet Strength
Total liquidity of $517 million at quarter end (including $171 million cash); $79 million outstanding on revolver resulting in a net cash position of approximately $92 million; net leverage substantially less than 1x net debt to adjusted EBITDA.
Technology & Operational Milestones
Multiple innovation achievements in Q1: world-first fully remote completion joint makeup without personnel in the red zone; iTONG milestone of >1.2 million feet of casing/tubing run and pulled in field operations; launched Solus single shear-and-seal subsea valve; successful deployment of MultiTrace gas tracing for accurate flare measurement.
Unchanged 2026 Guidance and Constructive Outlook
Maintained prior full-year 2026 guidance; management expects sequential quarterly improvements and a meaningful ramp in H2 2026, with continued constructive outlook into 2027.
Segment Highlights and Market Opportunities
APAC revenue increased modestly to $44 million (+$1M sequential) with stable 16% margin; company sees growth opportunities across North & Latin America, North Africa, Southeast Asia, China subsea equipment sales, and internationalization of acquired technologies (Coretrax expanded from ~15 to 31 countries).
Share Repurchases and Capital Allocation Discipline
Repurchased ~1.2 million shares for ~$20 million in Q1; reiterated capital allocation framework focused on CapEx, selective M&A, returning at least one-third of free cash flow to shareholders, and maintaining a strong balance sheet.
DE:M4E Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed