Stock Analysis
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- NYSE:CLB
Core Laboratories Second Quarter 2024 Earnings: Misses Expectations
Core Laboratories (NYSE:CLB) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$130.6m (up 2.1% from 2Q 2023).
- Net income: US$9.03m (down 61% from 2Q 2023).
- Profit margin: 6.9% (down from 18% in 2Q 2023). The decrease in margin was driven by higher expenses.
- EPS: US$0.19 (down from US$0.49 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Core Laboratories Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 18%.
Looking ahead, revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Energy Services industry in the US.
Performance of the American Energy Services industry.
The company's shares are up 2.6% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 2 warning signs for Core Laboratories you should be aware of.
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About NYSE:CLB
Core Laboratories
Provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, and internationally.