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Core Laboratories Inc. - CLB STOCK NEWS

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Core Laboratories Inc. (NYSE: CLB) is a leading provider of proprietary and patented reservoir description and production enhancement services and products aimed at optimizing petroleum reservoir performance. Founded in 1936 and headquartered in Houston, the company operates over 70 offices in more than 50 countries and is located in every major oil-producing province in the world.

Core Laboratories specializes in reservoir optimization technologies that help increase total recovery from existing fields. By analyzing and characterizing reservoir rock and fluid samples, the company offers data and analytics to well operators, aiding in determining the best methods for recovering, processing, and refining hydrocarbons.

In 2023, Core Laboratories reported a steady financial performance, with significant achievements in both its reservoir description and production enhancement segments. The company observed year-over-year revenue growth and a rise in net income, attributed to an uptick in international and offshore activities. Notable projects include reservoir characterization in the Middle East, unconventional reservoir evaluations, and helium resource assessments in the U.S.

Core Laboratories has also emphasized technological innovations and partnerships to advance its services. A collaboration with Halliburton aims to expedite the delivery of comprehensive digital rock data solutions, integrating both companies' expertise in reservoir description and digital rock analysis. Additionally, Core Lab's RAPID™ web-enabled data management system has seen increased adoption, offering clients centralized and secure subsurface data access.

The company maintains a strong focus on maximizing free cash flow and reducing long-term debt. In 2023, Core reduced its net debt significantly and remains committed to further improving its balance sheet. Strategic investments in technology and international market expansion are expected to yield robust returns and drive future growth.

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Core Laboratories (NYSE: CLB) will host its second quarter 2024 conference call on July 25, 2024, at 7:30 a.m. CDT / 8:30 a.m. EDT. CEO Larry Bruno, CFO Chris Hill, and SVP Gwen Gresham will discuss the company's financial and operational results. The earnings press release will be available on Core's website after market close on July 24, 2024. To participate in the live webcast, visit www.corelab.com at least fifteen minutes before the call starts. A podcast and replay will be available on the company's website shortly after the call and will remain for 10 days. For phone access, contact Lena Brennan at lena.brennan@corelab.com for the dial-in number.

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Core Laboratories Inc. reported first quarter 2024 revenue of $129.6 million, with operating income of $8.6 million, and GAAP EPS of $0.07. The Company also announced a quarterly dividend. Core Lab's Reservoir Description segment saw steady revenue growth, while Production Enhancement operations posted higher demand. Core Labs continues to focus on maximizing free cash flow and reducing debt.
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Core Laboratories (CLB) will hold its first quarter 2024 conference call on April 25, 2024, discussing financial and operational results. The live webcast and podcast options provide accessibility for investors. Core Labs is a global provider of reservoir description and production enhancement services.
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Core Laboratories Inc. reported a 2% increase in fourth quarter revenue, with operating income of $14.6 million. Full-year revenue was up 4%, with operating income up 36%. The company reduced debt by $15 million in Q4 2023 and announced a quarterly dividend for Q1 2024.
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Core Laboratories Inc. (NYSE: CLB) will broadcast its fourth quarter 2023 conference call on February 1, 2024. The company's CEO, CFO, and SVP will discuss financial and operational results. Core Labs is a leading provider of reservoir description and production enhancement services used to optimize petroleum reservoir performance.
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Core Laboratories Inc. reported Q3 2023 revenue of $125.3 million, down 2% sequentially but flat year-over-year. Operating income was $14.7 million, with diluted EPS of $0.19. Reservoir Description revenue was $85.1 million, up 2% sequentially and 8% YoY. Operating margins for Reservoir Description were 17%. Core Lab announced a strategic digital rock characterization alliance with Halliburton and a Q4 2023 quarterly dividend of $0.01 per share.
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Halliburton and Core Laboratories collaborate to accelerate delivery of digital rock data solutions, reducing time from months to weeks.
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Core Laboratories will broadcast its Q3 2023 conference call on November 2, 2023. An earnings press release will be issued on November 1st. The company is a leading provider of reservoir services and products.
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FAQ

What services does Core Laboratories Inc. provide?

Core Laboratories offers reservoir description and production enhancement services to optimize petroleum reservoir performance.

Where is Core Laboratories headquartered?

Core Laboratories is headquartered in Houston, Texas.

How many offices does Core Laboratories have globally?

Core Laboratories operates over 70 offices in more than 50 countries.

What technological advancements has Core Laboratories recently made?

Core Laboratories has introduced RAPID™ for subsurface data management and collaborated with Halliburton for faster digital rock data solutions.

What was Core Laboratories' revenue for 2023?

Core Laboratories reported a revenue of $128.2 million for the fourth quarter of 2023.

What is Core Laboratories' strategy for financial health?

Core Laboratories focuses on maximizing free cash flow, reducing long-term debt, and strategic investments in technology.

What recent projects has Core Laboratories undertaken?

Recent projects include reservoir characterization in the Middle East, unconventional reservoir evaluations, and helium resource assessments in the U.S.

How does Core Laboratories help in reservoir optimization?

Core Laboratories provides data and analytics for well operators to optimize hydrocarbon recovery and enhance production.

What are Core Laboratories' main market regions?

Core Laboratories operates globally, with significant activities in the Middle East, South Atlantic Margin, Asia Pacific, and West Africa.

What is Core Laboratories' outlook for 2024?

Core Laboratories maintains a constructive outlook on international upstream projects and anticipates sustainable activity growth to support crude-oil demand and energy security.

Core Laboratories Inc.

NYSE:CLB

CLB Rankings

CLB Stock Data

1.07B
46.90M
0.85%
105.8%
Support Activities for Oil and Gas Operations
Mining, Quarrying, and Oil and Gas Extraction
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United States of America
HOUSTON