Welcome to our dedicated page for Core Laboratories news (Ticker: CLB), a resource for investors and traders seeking the latest updates and insights on Core Laboratories stock.
Core Laboratories Inc. reports news on reservoir description and production enhancement services and products for the oil and gas industry. Company updates commonly cover quarterly results, operating income, margins, free cash flow, net debt, leverage, dividends and common-stock repurchases, along with demand trends across conventional, unconventional, onshore and offshore projects.
Core Lab news also includes project and technology developments tied to petroleum reservoir performance, including laboratory analysis, formation evaluation, proprietary tracers such as SpectraStim, and services used by operators in major producing regions. Updates may address acquisitions that expand geological-service capabilities, regional operating disruptions, client project timing and supply-chain conditions that affect energy-service activity.
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Core Laboratories (NYSE: CLB) reported Q1 2023 revenue of $128.4 million, reflecting an 11% year-over-year increase. Operating income reached $6.5 million, while adjusted operating income was $14.5 million, maintaining operating margins of 11%. The company's diluted EPS was $0.05, up over 130% year-over-year, with adjusted EPS at $0.19.
Core's operations in Reservoir Description generated $80.2 million in revenue, while Production Enhancement brought in $48.2 million. The company approved a redomestication to the U.S. with a 99.3% shareholder vote. Core anticipates a low-single-digit revenue growth for Q2 2023, projecting revenues between $130 million and $135 million.