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Dec 31, 2021
Frank's International Q4 2021 Earnings Report
Delivered solid performance due to scale, broad portfolio, global operating footprint, through-cycle capabilities and strong financial profile enabled continued growth.
Key Takeaways
Expro Group Holdings N.V. reported a revenue of $296 million for Q4 2021, a 50% increase compared to the previous quarter. The company's net loss was $91 million, or $0.84 per common share, but adjusted net loss, excluding certain items, was $4 million, or a $0.03 loss per common share. Adjusted EBITDA was $51 million, a 61% sequential increase.
Revenue was $296 million, a 50% increase compared to Q3 2021.
Net loss was $91 million, or $0.84 per common share.
Adjusted net loss was $4 million, or a $0.03 loss per common share.
Adjusted EBITDA was $51 million, a 61% sequential increase.
Forward Guidance
The company expects continued solid financial performance in Q1 2022, tempered by seasonally weaker activity levels. Revenue in Q1 2022 is expected to be relatively flat compared to Q4 2021. Adjusted EBITDA margin in Q1 2022 is expected to be 12-14% of consolidated revenue. In the second half of 2022, Adjusted EBITDA margins are expected to be in the area of 20% of revenue.
Positive Outlook
- Expects that revenue momentum will be driven by an increase in shorter-cycle, faster-return production optimization projects.
- Expect to see a strong recovery in offshore development in the second half of the year.
- Expects that Adjusted EBITDA margins in the second half of 2022 will be in the area of 20% of revenue.
- Confident in ability to achieve synergy targets and integration plan remains very much on track.
- Pursuing growth opportunities afforded by broader portfolio and geographic footprint.
Challenges Ahead
- First quarter of 2022 will show continued solid financial performance, tempered by the typical seasonally weaker activity levels in the Northern Hemisphere.
- Expect that revenue in the first quarter of 2022 will be relatively flat compared to the fourth quarter of 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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