Expro Group Q2 adjusted EPS misses estimates on Middle East conflict

Expro

28/07/2026 11:57

Overview
Energy services provider's Q2 revenue rose, beating analyst expectations
Adjusted EPS for Q2 missed analyst expectations
Company repurchased $20 mln in shares and closed Enhanced Drilling acquisition in Q2

Outlook
Expro sees full-year 2026 revenue of $1.65-$1.7 bln, up from prior $1.6-$1.65 bln
Company expects second-half 2026 Adjusted EBITDA margin to exceed 24%, Q4 margin above 26%
Expro says Middle East conflict to impact results through 2026, but less than in Q2

Result Drivers
MIDDLE EAST DISRUPTION - Co said ongoing conflict in the Middle East continued to impact operations and tempered Q2 results
REGIONAL GROWTH - Higher well construction revenue in Egypt and increased well intervention in Argentina and Brazil contributed to Q2 revenue gains
COST EFFICIENCY INITIATIVES - Completion of Drive25 program and other internal measures expected to deliver over $40 mln in structural cost removals in 2026

Company press release: ID:nBwYkfHfa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$393.18 mln
$388.65 mln (4 Analysts)
Q2 Adjusted EPS
Miss
$0.15
$0.20 (5 Analysts)
Q2 Net Income
 
$2.03 mln
 
Q2 Adjusted EBITDA
 
$76 mln
 
Q2 Operating income
 
$10.37 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy."
Wall Street's median 12-month price target for Expro Ltd is $16.00, about 2.1% above its July 27 closing price of $15.67
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 16 three months ago

Reuters Recommended Reads
July 27 - Italy's Saipem cuts 2026 earnings guidance on Middle East crisis 
July 27 - Baker Hughes flags lower spending by oil and gas producers in 2026
July 27 - Noble Q2 adjusted net income misses estimates; guidance cut on Brazil rig suspensions

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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.)