Stock Track | Stock Plummet for Expro Group Amid Missed Earnings Estimates

Stock Track10-24

Expro Group Holdings N.V. (NYSE: XPRO), a leading provider of energy services, saw its stock price plummet by 5.93% on October 24, 2024, after reporting mixed financial results for the third quarter of 2024.

The company missed analysts' estimates for both earnings and revenue in the quarter. Expro reported adjusted earnings per share of $0.23, falling short of the consensus estimate of $0.26 by 11.54%. Meanwhile, revenue came in at $422.828 million, missing the expected $436.616 million by 3.16%.

Despite the misses, Expro's revenue grew by 14.33% year-over-year, driven by increased international and offshore activity. The company's Adjusted EBITDA for the quarter was $85.036 million, representing an Adjusted EBITDA margin of 20%.

According to Michael Jardon, Expro's Chief Executive Officer, the company remains well-positioned for a multi-year growth phase in the energy services sector, thanks to its focus on delivering high-quality services and innovative solutions. However, he acknowledged that customers have become more cautious with discretionary spending due to recent commodity price pressures, leading to project delays and a slower start to 2025.

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(NYSE: XPRO), a leading provider of energy services, saw its stock price plummet by 5.93% on October 24, 2024, after reporting mixed financial results for the third quarter ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XPRO","symbol_name":"Expro Group Holdings N.V.","start_time":0,"source_url":"","article_id":"1156948852","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1156948852","pubTimestamp":1729777201,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Expro Group Holdings N.V. , a leading provider of energy services, saw its stock price plummet by 5.93% on October 24, 2024, after reporting mixed financial results for the third quarter of 2024.The company missed analysts' estimates for both earnings and revenue in the quarter. 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