Expro Group Expects 2024 Revenue Of $1.60B-$1.70B Vs. $4.62B Est.; Sees Adjusted EBITDA Of $325M-$375M. For Q1 Sees Revenue Of $365M-$375M Vs. $376M Est., And Adjusted EBITDA Of $63M-$73M
Portfolio Pulse from Benzinga Newsdesk
Expro Group forecasts 2024 revenue of $1.60B-$1.70B, below the $4.62B estimate, with adjusted EBITDA of $325M-$375M. Q1 expectations are set at $365M-$375M in revenue, slightly below the $376M estimate, and adjusted EBITDA of $63M-$73M. The company anticipates improved profitability and cash flow, driven by industry tailwinds and a strong 2023 performance. The full-year guidance includes the expected completion of the Coretrax acquisition in Q3 2024. Seasonal and budget cycle factors are anticipated to affect Q1 performance.
February 21, 2024 | 12:05 pm
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Expro Group forecasts lower-than-expected 2024 revenue at $1.60B-$1.70B and anticipates Q1 revenue to be slightly below estimates. The company expects improved profitability and cash flow, factoring in the acquisition of Coretrax.
The forecasted revenue for 2024 and Q1 being below estimates could lead to a negative short-term impact on XPRO's stock price. The anticipated improvement in profitability and cash flow, along with the strategic acquisition of Coretrax, may mitigate some concerns but the initial reaction to lower-than-expected revenue forecasts is likely negative.
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