Expro sees full-year 2026 revenue of $1.65-$1.7 bln, up from prior $1.6-$1.65 bln
Company expects second-half 2026 Adjusted EBITDA margin to exceed 24%, Q4 margin above 26%
Expro says Middle East conflict to impact results through 2026, but less than in Q2
Result drivers
Middle East disruption - Co said ongoing conflict in the Middle East continued to impact operations and tempered Q2 results
Regional growth - Higher well construction revenue in Egypt and increased well intervention in Argentina and Brazil contributed to Q2 revenue gains
Cost efficiency initiatives - Completion of Drive25 program and other internal measures expected to deliver over $40 mln in structural cost removals in 2026
Analyst coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy"
Wall Street's median 12-month price target for Expro Ltd is $16.00, about 2.1% above its July 27 closing price of $15.67
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 16 three months ago
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