Thu, Jul 25, 8:18 PM (44 days ago)
Expro Group Holdings N.V. reported a strong financial performance for the quarter ended June 30, 2024. Total revenue increased by 22.5% to $469.6 million compared to the previous quarter, driven by higher activity across all operating segments. Net income for the quarter was $15.3 million, a significant improvement from a net loss of $2.7 million in the prior quarter. Adjusted EBITDA rose by 40.2% to $94.6 million, with an Adjusted EBITDA margin of 20.1%, up from 17.6% in the previous quarter. The company's financial health remains robust with total liquidity of $271.1 million, including cash and cash equivalents. The recent Coretrax acquisition contributed positively to the quarterly results. However, the company is cautious about uncertainties related to geopolitical tensions and market volatility. Future operations are expected to benefit from ongoing global demand for energy services and strategic acquisitions.