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Sep 30, 2022
Frank's International Q3 2022 Earnings Report
Reported financial and operational results driven by balanced growth across geographies and supported by robust activity in key international and offshore markets.
Key Takeaways
Expro Group Holdings N.V. announced strong operational performance in Q3 2022, driven by a balanced portfolio and strategic partnerships, exceeding their first-year cost synergy targets by 13% with over $60 million in savings.
Expro's balanced portfolio, partnerships, and expertise continue to deliver value to customers.
The company capitalized on new business opportunities, winning contracts and entering new markets.
Solid performance in the quarter reflects balanced growth across geographies including NLA, ESSA and MENA.
Expro is expanding partnerships beyond oil and gas into new energy segments like geothermal.
Forward Guidance
Expro is on track to deliver run-rate quarterly revenue of $325 - $350 million in the fourth quarter with EBITDA margins of approximately 20%.
Positive Outlook
- Strong presence in key international and offshore markets.
- Leading portfolio of offshore solutions.
- Expect significant growth in well construction business.
- Offshore activity continues to ramp up in the fourth quarter and into 2023.
- Improved profitability will drive strong cash flow generation.
Challenges Ahead
- Uncertain broader macro-economic environment.
- Transitory margin pressure in APAC.
- Potential impact of current and future laws, rulings, governmental regulations, accounting standards and statements, and related interpretations, and other guidance.
- Volatility of oil and gas prices.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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