Expro beats Q3 revenue expectations
XPRO•Expro reported Q3 revenue of $439.94 million, above the $433.83 million consensus, and a net loss of $5.2 million. It raised 2026 adjusted free cash flow guidance to $140 million-$150 million and authorized a $100 million share repurchase plan.
1. Quarterly results
Expro reported Q3 revenue of $439.94 million, beating analyst expectations of $433.83 million. The company posted a net loss of $5.2 million, adjusted EBITDA of $91 million and operating income of $4.88 million.
2. Guidance and buyback
Expro raised its 2026 adjusted free cash flow guidance to $140 million-$150 million and authorized a new $100 million share repurchase plan. It expects sequential improvement in Q4 revenue and adjusted EBITDA, but lowered its Q4 adjusted EBITDA expectations by about $20 million due to project deferrals.
3. Revenue drivers
The company said Q3 revenue growth in North and Latin America and Europe/Sub-Saharan Africa was mainly driven by the Enhanced Drilling acquisition and higher well construction and flow management activity. It attributed cash flow to increased capital discipline, improved collections and segment realignment, including the creation of the AMENA region.
