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What's in Store for Core Laboratories (CLB) in Q2 Earnings?
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Core Laboratories Inc. (CLB - Free Report) is set to release second-quarter earnings on Jul 24, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter is a profit of 22 cents per share on revenues of $133.34 million.
Let’s delve into the factors that might have influenced CLB’s performance in the to-be-reported quarter. Before that, it’s worth taking a look at the company’s performance in the last reported quarter.
Highlights of Q1 Earnings
In the last reported quarter, the Houston, TX-based oil and gas equipment and services company’s earnings beat the consensus mark. CLB reported adjusted earnings of 19 cents per share, which was 3 cents higher than the Zacks Consensus Estimate. This can be attributed to robust performance from the Reservoir Description segment. Revenues of $129.6 million also beat the Zacks Consensus Estimate by 4.5%. CLB’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed the mark in two, delivering an average earnings surprise of 3.6%.
The Zacks Consensus Estimate for second-quarter 2024 earnings has witnessed an upward and a downward movement in the past 30 days. The estimated figure indicates a 4.76% year-over-year increase. The Zacks Consensus Estimate for revenues indicates an increase of 3.49% from the prior-year reported figure.
Factors to Consider
CLB’s revenues are likely to have improved in the quarter to be reported. Our model predicts revenues to increase to $133 million from the prior-year recorded level of $129.6 million. This can be attributed to the strong performance of the Reservoir Description segment.
On the other hand, the company’s operating expenses are projected to have reached $118.4 million, up 8.7% from the year-ago period’s level. Its direct operating costs (which include labor, materials or supplies) are expected to have increased from $100.3 million to $104.6 million in the same time frame. This rise in expenses across the economy might have affected the company's overall profitability despite the revenue growth.
What Does Our Model Predict?
The proven Zacks model does not conclusively predict an earnings beat for Core Laboratories this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is -2.33%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: CLB currently carries a Zacks Rank #3.
Stocks to Consider
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
CTRA is scheduled to release earnings on Aug 1. It has a trailing four-quarter average earnings surprise of 9.81%. Valued at around $20.37 billion, CTRA’s shares have risen 2.1% in a year.
Expro Group Holdings (XPRO - Free Report) currently has an Earnings ESP of +2.04% and a Zacks Rank #2. The firm is scheduled to release earnings on Jul 25.
XPRO has a trailing four-quarter average earnings surprise of 78.41%. Valued at around $2.68 billion, XPRO’s shares have risen 10.9% in a year.
Pembina Pipeline (PBA - Free Report) has an Earnings ESP of +9.09% and a Zacks Rank #2 at present. The firm is scheduled to release earnings on Aug 8.
PBA has a trailing four-quarter average earnings surprise of 10.91%. Valued at around $21.79 billion, PBA’s shares have risen 21.8% in a year.
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What's in Store for Core Laboratories (CLB) in Q2 Earnings?
Core Laboratories Inc. (CLB - Free Report) is set to release second-quarter earnings on Jul 24, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter is a profit of 22 cents per share on revenues of $133.34 million.
Let’s delve into the factors that might have influenced CLB’s performance in the to-be-reported quarter. Before that, it’s worth taking a look at the company’s performance in the last reported quarter.
Highlights of Q1 Earnings
In the last reported quarter, the Houston, TX-based oil and gas equipment and services company’s earnings beat the consensus mark. CLB reported adjusted earnings of 19 cents per share, which was 3 cents higher than the Zacks Consensus Estimate. This can be attributed to robust performance from the Reservoir Description segment. Revenues of $129.6 million also beat the Zacks Consensus Estimate by 4.5%. CLB’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed the mark in two, delivering an average earnings surprise of 3.6%.
Core Laboratories Inc. Price and EPS Surprise
Core Laboratories Inc. price-eps-surprise | Core Laboratories Inc. Quote
Trend in Estimate Revision
The Zacks Consensus Estimate for second-quarter 2024 earnings has witnessed an upward and a downward movement in the past 30 days. The estimated figure indicates a 4.76% year-over-year increase. The Zacks Consensus Estimate for revenues indicates an increase of 3.49% from the prior-year reported figure.
Factors to Consider
CLB’s revenues are likely to have improved in the quarter to be reported. Our model predicts revenues to increase to $133 million from the prior-year recorded level of $129.6 million. This can be attributed to the strong performance of the Reservoir Description segment.
On the other hand, the company’s operating expenses are projected to have reached $118.4 million, up 8.7% from the year-ago period’s level. Its direct operating costs (which include labor, materials or supplies) are expected to have increased from $100.3 million to $104.6 million in the same time frame. This rise in expenses across the economy might have affected the company's overall profitability despite the revenue growth.
What Does Our Model Predict?
The proven Zacks model does not conclusively predict an earnings beat for Core Laboratories this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is -2.33%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: CLB currently carries a Zacks Rank #3.
Stocks to Consider
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Coterra Energy (CTRA - Free Report) has an Earnings ESP of +3.57% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
CTRA is scheduled to release earnings on Aug 1. It has a trailing four-quarter average earnings surprise of 9.81%. Valued at around $20.37 billion, CTRA’s shares have risen 2.1% in a year.
Expro Group Holdings (XPRO - Free Report) currently has an Earnings ESP of +2.04% and a Zacks Rank #2. The firm is scheduled to release earnings on Jul 25.
XPRO has a trailing four-quarter average earnings surprise of 78.41%. Valued at around $2.68 billion, XPRO’s shares have risen 10.9% in a year.
Pembina Pipeline (PBA - Free Report) has an Earnings ESP of +9.09% and a Zacks Rank #2 at present. The firm is scheduled to release earnings on Aug 8.
PBA has a trailing four-quarter average earnings surprise of 10.91%. Valued at around $21.79 billion, PBA’s shares have risen 21.8% in a year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.