Core Laboratories reports Q2 EPS ex-items 22c, consensus 21c

Reports Q2 revenue $130.6M, consensus $131.84M. CEO Larry Bruno stated, “Core Lab revenue was up slightly sequentially, but our team delivered nice improvements in operating income, operating margins, incremental margins, free cash flow and earnings per share for the company…Core’s free cash flow improved significantly quarter-over-quarter and in addition to paying our quarterly dividend, we applied free cash to debt reduction. Core will continue to remain focused on executing its strategic business initiatives while also reducing our debt leverage ratio, which declined from 1.76 at the end of the first quarter to 1.66 at the end of the second quarter, the lowest level in over five years.”