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Expro Group Holdings N.V. (symbol: XPRO) is a global leader in well flow management, dedicated to providing essential services and products that measure, improve, control, and process flow from high-value oil and gas wells. With a primary focus on the offshore, deepwater, and other technically challenging environments, Expro delivers mission-critical services across three key areas:
- Well Test & Appraisal Services: Offering comprehensive solutions for well testing and evaluation to ensure optimal well performance.
- Subsea, Completion & Intervention Services: Specializing in subsea well access, completion, and intervention to enhance well integrity and productivity.
- Production Services: Providing end-to-end production optimization services for both onshore and offshore applications.
Expro’s operations span the globe, delivering advanced offshore production solutions, a capability significantly enhanced by the 2021 merger with Frank's International. The company serves a diverse range of markets, with international and offshore segments constituting approximately 80% and 70% of their annual revenue, respectively.
Beyond well flow management, Expro supports well construction, well intervention, and subsea well access, effectively covering the entire well life cycle. Their innovative approach and technical expertise make them a preferred partner in the oil and gas industry, consistently delivering high-quality services and ensuring optimal well performance.
For more information, please visit: www.exprogroup.com/about-us
Expro Group Holdings N.V. (NYSE: XPRO) reported a strong operational performance with second quarter 2022 revenue reaching $314 million, a 12% increase from the prior quarter. The net loss narrowed to $4 million or $0.04 per diluted share. Adjusted EBITDA rose 39% to $51 million, with a margin of 16%. The company repurchased 1.1 million shares under a $50 million stock repurchase program. Challenges include revenue declines in MENA, which saw an 11% drop. Expro's cash and cash equivalents stand at $179 million with no debt, ensuring robust liquidity.
Expro Group Holdings N.V. (NYSE: XPRO) is set to hold a conference call on August 4, 2022, at 10:00 a.m. CT to discuss its quarterly results for the period ending June 30, 2022. An accompanying press release will be issued before market opens on the same day. Investors are encouraged to pre-register for the call via a provided link. Participants can also join by dialing designated numbers. The call will be available via live webcast and an audio replay will be accessible following the event. Expro is a leading provider of energy services worldwide.
Expro (NYSE: XPRO) has secured a groundbreaking contract to provide integrated services for a geothermal project in the Upper Rhine Graben area of Germany. This eight-well contract, for Deutsche ErdWärme, includes well construction services and a high-rate surface well test system. The partnership commenced in June 2022 and holds future extension potential. Expro aims to reduce greenhouse gas emissions and transition toward a sustainable future, reflected in its Net Zero goals by 2050 and a 50% carbon intensity reduction by 2030.
Expro Group Holdings N.V. (NYSE: XPRO) announced a new $50 million stock repurchase program set to conclude on November 24, 2023. This initiative aims to increase shareholder value and reflects management's confidence in the company's financial stability, underscored by a debt-free balance sheet and projected cash generation. The stock repurchases will be conducted at management's discretion, depending on market conditions. CEO Michael Jardon emphasized that this program represents a prudent use of capital in alignment with corporate strategy.
Expro Group Holdings N.V. (NYSE: XPRO) reported a 5% revenue decrease to $280 million in Q1 2022, impacted by lower activity in ESSA and APAC segments. However, the company achieved a significant reduction in net loss to $11 million from $91 million in the previous quarter. Adjusted net income improved to $1 million from a loss. EBITDA decreased 27% to $37 million, reflecting seasonal activity declines. Notably, the company reported growth in NLA and MENA segments and strategically enhanced its technology portfolio with the acquisition of SolaSense.
Expro Group Holdings N.V. (NYSE: XPRO) will hold a conference call on May 5, 2022, to discuss its Q1 results for the period ending March 31, 2022. The call is set to begin at 10:00 a.m. CT (11:00 a.m. ET). A press release and presentation slides will be available on the company’s website prior to the call. Participants may pre-register for immediate access. An audio replay will be available starting from 1:00 p.m. CT on May 5, lasting until May 12, 2022.
Expro (NYSE:XPRO) has acquired SolaSense Ltd., a UK-based Distributed Fiber Optic Sensing (DFOS) company. This strategic acquisition enhances Expro's well surveillance capabilities, allowing for near real-time analysis of well data without extended shut-ins, thus minimizing production losses. The integration aims to extend the lifespan of wells while reducing operational costs, leveraging Expro’s 50 years of experience in well intervention. The acquisition positions Expro to offer a comprehensive service combining well evaluation and remediation solutions.
Expro Group Holdings N.V. (XPRO) reported strong financial results for Q4 2021, achieving $296 million in revenue, a 50% increase from Q3 2021, largely attributed to the recent merger with Frank's International. However, the company experienced a net loss of $91 million or $0.84 per share. While Adjusted EBITDA increased by 61% to $51 million, challenges remain with EBITDA margins projected to vary between 12-14% in Q1 2022. The company anticipates achieving significant cost synergies and strong cash flow in the future, despite facing seasonal revenue fluctuations.
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