Core Laboratories Q2 revenue falls as geopolitical disruptions weigh

Core Laboratories

29/07/2026 22:26

Overview
Oilfield services provider's Q2 revenue fell 4% yr/yr and rose 2% sequentially
Adjusted EPS for Q2 rose 85% sequentially but declined 42% yr/yr
Company repurchased 214,712 shares for $2.7 mln during the quarter

Outlook
Core Laboratories projects Q3 2026 revenue between $128.5 mln and $135.5 mln
Company expects Q3 2026 EPS of $0.12 to $0.20
Core Laboratories says ongoing conflicts likely to affect client operations in Q3 2026

Result Drivers
GEOPOLITICAL DISRUPTIONS - Military conflicts in the Middle East and Russia-Ukraine led to suspended client projects and disrupted crude oil transport, negatively impacting Reservoir Description revenue and margins
PRODUCT SALES AND DIAGNOSTICS - Higher sequential product sales and increased completion diagnostic service activity in the U.S. and international markets boosted Production Enhancement revenue
REGIONAL ACTIVITY IMPROVEMENT - Increased activity in Africa, U.S., and Asia-Pacific supported results as operators sought Core Labs’ technical expertise for reservoir characterization and production optimization

Company press release: ID:nPn28zbwya

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$124.6 mln
$125.1 mln (2 Analysts)
Q2 EPS
 
$0.13
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

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 $13.50, about 36.8% above its July 29 closing price of $9.87
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 22 three months ago

Reuters Recommended Reads
July 28 - Expro Group Q2 adjusted EPS misses estimates on Middle East conflict 
July 27 - Baker Hughes posts smaller-than-expected Q2 revenue drop, tops profit estimates
July 29 - Flowserve Q2 sales fall on Middle East conflict impact

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(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.)