Expro Q3 2022 revenue $334M (+7% QoQ); net loss $18M on start-up costs and FX

EXPRO GROUP HOLDINGS N.V.

Revenue $334M (+7% QoQ); net loss $18M ($0.16) vs $4M loss ($0.04) prior quarter.
Adjusted net loss $8M ($0.07); Adj EBITDA $48M (14%); excluding $17M costs Adj EBITDA $65M (19%).
Achieved $62M cost synergies in first year post-merger, exceeding $55M target by 13%.
APAC segment EBITDA -$9M (-17% margin) from $17M start-up costs on large subsea project.
No debt; liquidity $287M; $8M FCPA reserve; Q4 guide rev $325-350M, EBITDA ~20%.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EXPRO GROUP HOLDINGS N.V. reported the quarter ended September 30, 2022 results: revenue $334 million, net income Net loss for the third quarter of 2022 was $18 million, or $0.16 per diluted share.

Period: the quarter ended September 30, 2022
Revenue: $334 million
Net income: Net loss for the third quarter of 2022 was $18 million, or $0.16 per diluted share
Result: reported results

Exact text from the filing

(the “Company” or “Expro”) today reported financial and operational results for the three and nine months ended September 30, 2022. Third Quarter 2022 Highlights • Revenue was $334 million compared to revenue of $314 million in the second quarter of 2022, an increase of $20 million, or 7%, driven by higher activity across all of Expro’s segments, most notably in

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Source: SEC EDGAR

accession 0001437749-22-025637

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