Oilfield services provider Expro (NYSE: XPRO) will be announcing earnings results this Tuesday morning. Here’s what to expect.
Expro missed analysts’ revenue expectations last quarter, reporting revenues of $382.1 million, down 12.5% year on year. It was a disappointing quarter for the company, with a miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.
Is Expro a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Expro’s revenue to decline 7.8% year on year, a reversal from the 1.9% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Expro has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Expro’s peers in the oilfield services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Noble Corporation’s revenues decreased 10.2% year on year, beating analysts’ expectations by 6.8%, and World Kinect reported revenues up 2.5%, topping estimates by 10.4%. Noble Corporation traded up 8.2% following the results while World Kinect was also up 10.9%.
Read our full analysis of Noble Corporation’s results here and World Kinect’s results here.
There has been positive sentiment among investors in the oilfield services segment, with share prices up 4.1% on average over the last month. Expro is up 8.5% during the same time and is heading into earnings with an average analyst price target of $17.60 (compared to the current share price of $18.04).
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