Core Laboratories Q1 profit halves as Middle East disruptions, weather weigh

Core Laboratories

29/04/2026 22:26

Overview

Oilfield services provider's Q1 revenue flat yr/yr, down 12% sequentially

Adjusted EPS for Q1 fell 58% yr/yr to $0.06

Company cites Middle East conflict and severe weather as key factors impacting results

Outlook

Core Labs sees Q2 2026 revenue between $123 mln and $131 mln

Company expects Q2 2026 EPS of $0.06 to $0.12

Core Labs says Middle East instability continues to disrupt client activity and project execution

Result Drivers

MIDDLE EAST DISRUPTIONS - Co said conflict in the Middle East led to client office closures, project delays, suspended field access, and delayed shipments, materially affecting results

SEVERE WEATHER - Co said severe weather in North America and the Mediterranean disrupted client operations and demand for laboratory services

LOW U.S. DRILLING ACTIVITY - Co said U.S. land drilling and completion activity was seasonally low, with active frac fleets at a five-year low, further reducing Production Enhancement revenue

Company press release: ID:nPn8sv1CXa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$121.80 mln
$124.94 mln (2 Analysts)
Q1 EPS
-$0.02


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the business support services peer group is "buy."

Wall Street's median 12-month price target for Core Laboratories Inc is $15.00, about 13.3% below its April 29 closing price of $17.30

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 19 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)