Oilfield services provider Expro (NYSE: XPRO) will be reporting earnings this Tuesday before market open. Here’s what investors should know.
Expro beat analysts’ revenue expectations last quarter, reporting revenues of $367.6 million, down 6% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS 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 decline 9.7% year on year, in line with the 10% 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 Q2 results, giving us a hint as to what we can expect. World Kinect delivered year-on-year revenue growth of 50.3%, beating analysts’ expectations by 27.7%, and Oceaneering reported revenues up 10%, topping estimates by 4.3%. World Kinect traded up 5.2% following the results while Oceaneering was also up 6.7%.
Read our full analysis of World Kinect’s results here and Oceaneering’s results here.
There has been positive sentiment among investors in the oilfield services segment, with share prices up 5.4% on average over the last month. Expro is up 10.9% during the same time and is heading into earnings with an average analyst price target of $17.40 (compared to the current share price of $15.79).
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