Expro Group Holdings N.V. Announces Third Quarter 2024 Results

Expro Group Holdings N.V., a company listed on the New York Stock Exchange under the symbol XPRO, released its third-quarter results for the period ending September 30, 2024, through a Form 8-K filing with the Securities and Exchange Commission on October 24, 2024.

In the report, Expro Group disclosed a revenue of $737 million for the third quarter of 2024, reflecting a 5% increase compared to the same period in 2023. The growth was primarily attributed to robust demand in AI-related applications within the Semiconductor Test segment.

The company’s GAAP net income for the third quarter of 2024 was reported at $145.6 million, resulting in earnings per diluted share of $0.89. On a non-GAAP basis, the net income stood at $147.6 million, translating to $0.90 per diluted share. The non-GAAP figures excluded items such as acquired intangible asset amortization, restructuring charges, and legal settlements, among others.

CEO Greg Smith acknowledged the outperformance of the Semiconductor Test segment due to record Memory revenue driven by High Bandwidth Memory (HBM) and demands in AI applications. The Robotics division also showcased progress with a focus on recurring software and services revenue.

Looking ahead, Expro Group provided guidance for the fourth quarter of 2024, anticipating revenue in the range of $710 million to $760 million. The company forecasted a GAAP net income per diluted share between $0.73 and $0.91, along with a non-GAAP net income per diluted share falling within $0.80 to $0.97.

For further details, Expro Group updated its Investor Relations webpage, highlighting an investor presentation and third-quarter 2024 financial results on its Interactive Analyst Center. The company’s website serves as a repository for future updates, presentations, and financial information.

The regulatory filing also included an exhibit detailing the financial statements and results for the referenced quarter. Interested parties are encouraged to access the official filing for a comprehensive overview of Expro Group’s financial performance and strategic initiatives.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Expro Group’s 8K filing here.

Expro Group Company Profile

Expro Group Holdings N.V. engages in the provision of energy services in North and Latin America, Europe and Sub-Saharan Africa, the Middle East and North Africa, and the Asia-Pacific. The company provides well construction services, such as technology solutions in drilling, tubular running services, and cementing and tubulars; and well management services, including well flow management, subsea well access, and well intervention and integrity solutions.