Expro boosts FY24 revenue view to $1.7B-$1.75B, consensus $1.68B

“Expro remains focused on achieving excellent results for our customers and is well positioned for continued improvement in profitability, free cash flow and shareholder returns during what we expect will be a multi-year growth phase for energy services. We remain positive on the outlook for the international and offshore energy markets and we are comfortable increasing full-year 2024 guidance range for expected revenues to between $1,700 M and $1,750M versus prior guidance of between $1,600Mand $1,700 M and refining full-year 2024 guidance range for Adjusted EBITDA to between $350M and $375 M versus prior guidance of between $325 M and $375M . Third quarter revenue is expected to be between $410 M and $430M, implying sequential and year-on-year revenue growth of (11)% and 14%, respectively, with Adjusted EBITDA margin expected to be in a range of 21% to 22%. Our expectation for a sequential decrease in revenue followed by a fourth quarter rebound largely reflects our strong second quarter results, commencing the operations and maintenance phase of our Congo production solutions project, and the expected start-up and completion of other projects.”