CORE LAB REPORTS THIRD QUARTER 2026 RESULTS:
Key Highlights
- ➤Q3 revenue $132.1 million, up 6% sequentially and down 2% year-over-year
- ➤Q3 EPS ex-items $0.16, up 46% sequentially and down 27% year-over-year
- ➤Q4 revenue guidance $128.5 million-$134.5 million, with EPS $0.12-$0.20
- ➤Reservoir Description revenue $84.3 million, up 7% sequentially and down 4% year-over-year
- ➤Production Enhancement revenue $47.8 million, up 4% sequentially and 3% year-over-year
Expert Statements
Larry Bruno, CEO of Core Laboratories Inc.
“Our third quarter results delivered sequential revenue growth across both of our operating segments. International revenue was up in Europe-Africa, Asia-Pacific, Latin America, and the Middle East. There was a gradual improvement in activity in the Middle East, particularly late in the quarter. Improving demand across these international regions drove Reservoir Description revenue higher during the quarter, just above the top end of our guidance range. Production Enhancement's revenue growth was led by strong U.S. product sales, which benefited from modestly improved U.S. land completion activity and increased adoption of our proprietary completion technologies. International product sales also strengthened sequentially. Looking at the mid to long term, we see our key international regions positioned for growth, including long-cycle offshore exploration and appraisal projects. Face-to-face meetings with clients throughout Asia-Pacific during the third quarter reinforced our view that the region is entering a period of sustained activity growth, with projects advancing across both conventional and unconventional plays. Core Lab's established global network has the Company well-positioned to support these programs. Although geopolitical conflicts in the Middle East and Russia-Ukraine still affect portions of our business, we are encouraged by improving demand and project momentum across our global client base.”
* REVENUE OF $132.1 MILLION, UP 6% SEQUENTIALLY AND DOWN 2% YEAR-OVER-YEAR * OPERATING INCOME OF $12.1 MILLION; EX-ITEMS, $12.6 MILLION, UP 35% SEQUENTIALLY AND DOWN 24% YEAR-OVER-YEAR * GAAP EARNINGS PER SHARE OF $0.12; EPS EX-ITEMS OF $0.16, UP 46% SEQUENTIALLY AND DOWN 27% YEAR-OVER-YEAR * FREE CASH FLOW OF $1.7 MILLION * COMPANY REPURCHASED 87,873 SHARES OF COMMON STOCK, FOR $1.1 MILLION AGGREGATE PURCHASE PRICE * COMPANY ANNOUNCES Q4 2026 QUARTERLY DIVIDEND HOUSTON, Oct. 28, 2026 /PRNewswire/ -- Core Laboratories Inc. (NYSE: "CLB") ("Core," "Core Lab," or the "Company") reported third quarter 2026 revenue of $132,100,000. Core's operating income was $12,100,000, with earnings per diluted share ("EPS") of $0.12, all in accordance with U.S. generally accepted accounting principles ("GAAP"). Operating income, ex-items, a non-GAAP financial measure, was $12,600,000, yielding operating margins of 10% with sequential incremental margins of 43%, and EPS, ex-items, of $0.16. A full reconciliation of non-GAAP financial measures is included in the attached financial tables.
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