Core Laboratories (CLB - Free Report) reported fourth-quarter 2022 results, wherein earnings of 20 cents per share beat the Zacks Consensus Estimate of 19 cents and came in line with the year-ago profit. This could be attributed to the Production Enhancement segment’s better-than-expected performance.
However, this oilfield service provider’s revenues of $127.6 million missed the Zacks Consensus Estimate of $130 million due to underperformance from both segments, though the top line rose 2% from the year-ago quarter’s revenues of $125.1 million.
Core Labs’ (CLB - Free Report) revenues for the first quarter of 2023 are anticipated in the $125-$129 million range, while the operating income is estimated in the $11.5-$14.5 million band.
Segmental Performance
Reservoir Description: Revenues of this segment were recorded at $78.1 million, which missed the Zacks Consensus Estimate of $80 million. Moreover, the operating income decreased from $7.2 million in the year-ago period to $6.8 million and also missed the Zacks Consensus Estimate of $7.8 million, mainly due to weak demand for laboratory services.
Production Enhancement: Revenues of $49.4 million compared favourably with the year-ago quarter’s $45 million, indicating a year-over-year increase of 9.8%. However, the same underperformed the Zacks Consensus Estimate of $49.85 million.
Moreover, the segmental operating income of $7.9 million in the quarter outperformed the Zacks Consensus Estimate of $5.2 million, as the company continued building on its sophisticated and reliable solutions. In the year-ago period, CLB reported an operating income of $7 million.
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If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
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Core Laboratories (CLB - Free Report) reported fourth-quarter 2022 results, wherein earnings of 20 cents per share beat the Zacks Consensus Estimate of 19 cents and came in line with the year-ago profit. This could be attributed to the Production Enhancement segment’s better-than-expected performance.
However, this oilfield service provider’s revenues of $127.6 million missed the Zacks Consensus Estimate of $130 million due to underperformance from both segments, though the top line rose 2% from the year-ago quarter’s revenues of $125.1 million.
Core Labs’ (CLB - Free Report) revenues for the first quarter of 2023 are anticipated in the $125-$129 million range, while the operating income is estimated in the $11.5-$14.5 million band.
Segmental Performance
Reservoir Description: Revenues of this segment were recorded at $78.1 million, which missed the Zacks Consensus Estimate of $80 million. Moreover, the operating income decreased from $7.2 million in the year-ago period to $6.8 million and also missed the Zacks Consensus Estimate of $7.8 million, mainly due to weak demand for laboratory services.
Production Enhancement: Revenues of $49.4 million compared favourably with the year-ago quarter’s $45 million, indicating a year-over-year increase of 9.8%. However, the same underperformed the Zacks Consensus Estimate of $49.85 million.
Moreover, the segmental operating income of $7.9 million in the quarter outperformed the Zacks Consensus Estimate of $5.2 million, as the company continued building on its sophisticated and reliable solutions. In the year-ago period, CLB reported an operating income of $7 million.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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