Expro Group misses Q2 earnings estimates, raises Q3 and full-year revenue outlook

Fiona Craig Tue, July 28, 2026 at 5:41 AM PDT 2 min read

XPRO -5.12%

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Expro Group Holdings N.V. (NYSE: XPRO) reported mixed second-quarter results on Tuesday, missing Wall Street earnings expectations while delivering a modest revenue beat. Despite the earnings shortfall, the company issued stronger guidance for the second half of the year.

Shares were little changed in after-hours trading following the announcement.

Adjusted earnings per share came in at $0.15, below the analyst consensus estimate of $0.19.

Revenue totalled $393.2 million, narrowly exceeding expectations of $388.9 million, although it declined 7% from $422.7 million in the same quarter last year.

Middle East Disruptions Weigh on Quarterly Performance

Expro reported net income of $2 million for the quarter, while adjusted EBITDA reached $76 million, representing a margin of 19.3%.

Chief Executive Officer Michael Jardon said results improved sequentially from the seasonally weaker first quarter but were affected by geopolitical developments.

"Second quarter results reflect a good sequential increase coming out of a seasonally low first quarter," Jardon said, adding that the conflict in the Middle East "tempered our second quarter results."

Revenue Guidance Tops Wall Street Expectations

For the third quarter of 2026, Expro expects revenue to range between $435 million and $455 million.

The midpoint of $445 million is well above the current analyst consensus estimate of $387.9 million.

The company also increased its full-year revenue outlook to between $1.65 billion and $1.70 billion. The midpoint of $1.675 billion exceeds analysts' expectations of $1.59 billion.

EBITDA Forecast Trimmed as Acquisition Completes

Expro narrowed its full-year adjusted EBITDA guidance to between $355 million and $365 million, compared with its previous forecast of $355 million to $375 million.

Management said the revision reflects the impact of prolonged disruption in the Middle East but continues to expect second-half adjusted EBITDA margins to exceed 24%, with fourth-quarter margins above 26%.

The company generated operating cash flow of $81 million and adjusted free cash flow of $56 million during the quarter.

Expro also repurchased approximately 1.3 million shares for $20 million at an average price of $15.42 per share, bringing total share buybacks for the year to date to $40 million.

Separately, the company completed its acquisition of Enhanced Drilling on 23 July for approximately $215 million. The transaction is expected to contribute around five months of operating results during 2026.

Expro Group Holdings stock price