Welcome to our dedicated page for Core Laboratories news (Ticker: CLB), a resource for investors and traders seeking the latest updates and insights on Core Laboratories stock.
Core Laboratories Inc. (NYSE: CLB) is an oilfield services company that focuses on reservoir description and production enhancement services and products for global oil and gas operators. The CLB news page on Stock Titan aggregates company announcements, earnings releases, and operational updates that the company issues through press releases and SEC-related disclosures.
Investors and industry followers can use this news feed to review Core Laboratories’ quarterly earnings reports, which typically include segment performance for Reservoir Description and Production Enhancement, commentary on international and offshore activity, and details on free cash flow, capital allocation, and dividends. The company’s news also covers strategic developments such as the opening of its unconventional core analysis laboratory in Dammam, Saudi Arabia, and the acquisition of Brazil-based geological services provider Solintec.
Core Laboratories’ updates frequently describe how its proprietary technologies—such as PRISM™ workflows, diagnostic tracers, and specialized energetic systems—are applied in specific client projects across regions including the Middle East, Africa, South America, the North Sea, and other key oil-producing basins. These case studies provide context on how the company’s services are used in deepwater exploration, unconventional reservoir evaluation, plug and abandonment operations, and geothermal projects.
By following CLB news, readers can monitor scheduled earnings conference calls, dividend declarations, changes to credit facilities disclosed via 8-K filings, and management’s commentary on industry conditions. Bookmark this page to access a consolidated view of Core Laboratories’ latest public communications as they are released.
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.
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