Shares of Expro Group Holdings N.V. (XPRO) plunged 5.10% in Wednesday's trading session following the release of the company's first quarter 2025 financial results. The oilfield services provider reported a significant sequential decline in key financial metrics, disappointing investors despite some year-over-year improvements.
For the quarter ended March 31, 2025, Expro reported revenue of $391 million, down 11% from $437 million in the fourth quarter of 2024. Net income also fell to $14 million, or $0.13 per diluted share, compared to $23 million, or $0.17 per diluted share, in the previous quarter. Adjusted EBITDA, a key profitability measure for the industry, decreased by 24% sequentially to $76 million.
While the company highlighted that its Q1 Adjusted EBITDA margin of 20% was an improvement from 18% in the same quarter last year, investors seemed more focused on the near-term challenges. Expro's CEO, Michael Jardon, acknowledged the impact of seasonal factors and customer budget cycles on the quarter's performance. The company's guidance for the second quarter, projecting revenue between $400 million and $410 million and Adjusted EBITDA between $80 million and $90 million, suggests a modest sequential improvement but continued pressure on margins.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.