Core Laboratories Inc. - CLB STOCK NEWS

Core Laboratories (NYSE: CLB) reported Q1 2023 revenue of $128.4 million, reflecting an 11% year-over-year increase. Operating income reached $6.5 million, while adjusted operating income was $14.5 million, maintaining operating margins of 11%. The company's diluted EPS was $0.05, up over 130% year-over-year, with adjusted EPS at $0.19.

Core's operations in Reservoir Description generated $80.2 million in revenue, while Production Enhancement brought in $48.2 million. The company approved a redomestication to the U.S. with a 99.3% shareholder vote. Core anticipates a low-single-digit revenue growth for Q2 2023, projecting revenues between $130 million and $135 million.

Core Laboratories (NYSE: CLB) will host its first quarter 2023 conference call on April 27, 2023, at 7:30 a.m. CDT. Key executives, including Chairman and CEO Larry Bruno and CFO Chris Hill, will discuss financial and operational results following the earnings release on April 26, 2023. Participants can access the live call via the company's website and a podcast will be available post-call. Core Laboratories, a leader in reservoir description and production enhancement services, operates over 70 offices across more than 50 countries, providing essential services to optimize petroleum reservoir performance.

Core Laboratories N.V. (NYSE: CLB) reported fourth-quarter 2022 revenue of $128 million, a slight sequential increase, with operating income of $16 million and GAAP EPS of $0.14. Adjusted EPS was $0.20, reflecting a 10% sequential rise. Despite challenges from currency fluctuations and the Russia-Ukraine conflict, free cash flow reached $11.2 million, and net debt fell by $11.7 million. The firm announced its voluntary delisting from Euronext and redomestication to the U.S. for improved efficiencies. Looking ahead, Core anticipates 2023 revenue between $125-$129 million, with a slight decline in Reservoir Description segment revenue due to seasonal patterns.

Core Laboratories N.V. (NYSE: CLB) announced its Board of Directors approved a plan for Redomestication from the Netherlands to the United States, specifically Delaware. This move aims to enhance shareholder value by simplifying corporate structure, improving operational efficiency, and reducing administrative costs. Shareholders will receive one share of Common Stock of Core Lab Delaware for each Common Share owned before the Redomestication. The Company believes this will result in reduced regulatory requirements and a more efficient tax structure. Shareholder approval is required, expected in the second quarter of 2023.

Core Laboratories (NYSE: CLB) will host its fourth quarter 2022 conference call on February 2, 2023, at 7:30 a.m. CST / 2:30 p.m. CET. The discussion will cover financial and operational results, led by Chairman and CEO Larry Bruno, CFO Chris Hill, and SVP Gwen Gresham. An earnings press release will be released after market close on February 1, available on their website. A live webcast can be accessed through www.corelab.com, with a replay lasting 10 days.

Core Laboratories reported a Q3 2022 revenue of $126 million, a 4% sequential increase and 7% year-over-year. Operating income rose by over 25% sequentially. The company's GAAP EPS stood at $0.16, while ex-items EPS was $0.18. Free cash flow reached $3.1 million. Despite currency devaluation impacts, revenues would be higher at constant exchange rates. Core continues to focus on maximizing free cash flow and maintaining a $0.01$126-131 million in revenue.

Core Laboratories (NYSE: CLB) will host its third quarter 2022 conference call on October 27, 2022, at 7:30 a.m. CDT (2:30 p.m. CEST). The call will cover financial and operational results, featuring Chairman and CEO Larry Bruno, CFO Chris Hill, and SVP Gwen Gresham. An earnings press release will precede the call, released after market close on October 26. Investors can access the call via webcast at www.corelab.com, with a replay available for 10 days. Core Labs specializes in optimizing petroleum reservoir performance.