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Mar 31, 2025
Frank's International Q1 2025 Earnings Report
reported solid performance in a dynamic operating environment and winter season affected first quarter, with revenue of $391 million
Key Takeaways
Expro Group Holdings N.V. announced solid first quarter 2025 results, with revenue of $391 million and Adjusted EBITDA of $76 million, representing the highest first quarter Adjusted EBITDA since the Expro/Frank’s merger in late 2021. Despite a sequential decrease in revenue and Adjusted EBITDA compared to Q4 2024 due to seasonality and activity mix, the company improved its Adjusted EBITDA margin year-over-year.
First quarter 2025 revenue was $391 million, a decrease of 11% sequentially due to lower activity in NLA, ESSA, and APAC segments.
Adjusted EBITDA for Q1 2025 was $76 million, with an Adjusted EBITDA margin of 20%, an increase from 18% in Q1 2024.
Net income for the first quarter of 2025 was $14 million, or $0.13 per diluted share.
The company provided second quarter 2025 guidance of $400 to $410 million in revenue and $80 to $90 million in Adjusted EBITDA.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company provides guidance for the second quarter of 2025 and expects revenue between $400 million and $410 million and Adjusted EBITDA between $80 million and $90 million. The outlook for the full year 2025 is less clear, but the company believes it will deliver revenue comparable to 2024 results while expanding Adjusted EBITDA margin. They are cautious about the near-term but more bullish over the medium- to long-term.
Positive Outlook
- Guidance for Q2 2025 shows expected sequential growth in revenue and Adjusted EBITDA.
- Expectation to deliver full-year 2025 revenue comparable to 2024 results.
- Anticipated expansion of Adjusted EBITDA margin in 2025.
- Business is largely levered to long-cycle development, which is well positioned in the current dynamic operating environment.
- Optimistic outlook for the business over the next several years.
Challenges Ahead
- Near-term uncertainty related to tariffs.
- Near-term uncertainty related to additional OPEC+ supply.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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