Oilfield services provider Expro (NYSE: XPRO) will be announcing earnings results this Tuesday before the bell. Here’s what to look for.
Expro beat analysts’ revenue expectations last quarter, reporting revenues of $393.2 million, down 7% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and a miss of analysts’ EBITDA estimates.
Is Expro a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Expro’s revenue to grow 7.7% year on year, a reversal from the 2.7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Expro has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Expro’s peers in the oilfield services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. ProPetro delivered year-on-year revenue growth of 20.9%, beating analysts’ expectations by 14.1%, and NOV reported revenues up 2.3%, topping estimates by 1.5%. ProPetro traded up 4.1% following the results while NOV was down 6.2%.
Read our full analysis of ProPetro’s results here and NOV’s results here.
There has been positive sentiment among investors in the oilfield services segment, with share prices up 4.4% on average over the last month. Expro is up 3% during the same time and is heading into earnings with an average analyst price target of $17.50 (compared to the current share price of $17.27).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
