Core Laboratories Inc Stock Price, News & Analysis

Core Laboratories N.V. reported Q4 2020 revenue of $113.7 million and operating income of $23.4 million, yielding an EPS of $0.31. Adjusting for non-cash stock compensation, operating income ex-items was $13 million, with a margin of 11%. Full-year free cash flow reached $46 million, marking the 19th consecutive year of positive cash flow. The company reduced net debt by $48.7 million in 2020. Despite challenges from COVID-19, Core anticipates improved activity in the second half of 2021, particularly in international markets.

Core Laboratories N.V. (CLB) has declared a cash dividend of $0.01 per share, payable on February 16, 2021, to shareholders of record as of January 25, 2021. This first-quarter dividend marks a total potential annual payout of $0.04 per share if maintained throughout the year. The dividend is subject to a 15% Dutch withholding tax. Future dividends will depend on the company's financial performance, market conditions, and capital expenditure plans.

Core Laboratories (NYSE: CLB) will hold a fourth quarter 2020 earnings conference call on January 28, 2021, at 7:30 a.m. CST / 2:30 p.m. CET. The call, featuring leadership including Larry Bruno (CEO) and Chris Hill (CFO), will discuss financial outcomes. An earnings press release will be available after market close on January 27. Investors can join via webcast at www.corelab.com or by contacting Lena Brennan for dial-in details.

Core Laboratories N.V. (NYSE: CLB) has launched an at-the-market equity offering program, allowing it to sell common shares worth up to $60 million. The equity distribution agreement with Wells Fargo Securities enables sales through various methods, adhering to legal and NYSE regulations. Proceeds will be used for general corporate purposes, including product development and potential acquisitions. The offering relies on an existing shelf registration statement with the SEC. Core Lab does not guarantee any sales under this agreement and may suspend it at any time.

Core Laboratories N.V. (NYSE: CLB) reported third quarter 2020 revenues of $105.4 million, down due to COVID-19 disruptions and Gulf Coast storms. Operating income was $11.3 million, with an EPS of $0.07. Cost reduction efforts yielded $61 million in annual savings. The company generated $18.5 million in free cash flow, reducing net debt by $16.2 million. A new $60 million private placement of fixed-rate notes aims to increase liquidity and manage debt. Core expects modest improvements in U.S. land activity in Q4 2020.

Core Laboratories N.V. (CLB) announced a private placement of $60 million in senior notes, organized by its subsidiary, intended for funding on January 12, 2021. The notes consist of $45 million due in 2026 with a 4.09% interest rate and $15 million due in 2028 at 4.38%. The proceeds will be used to reduce the existing credit facility. The notes are guaranteed by the Company, with specific covenants to maintain financial ratios. The announcement addresses aspects vital for investor confidence amid a fluctuating oil and gas market.

The Board of Supervisory Directors of Core Laboratories N.V. (CLB) has declared a $0.01 per share cash dividend for Q4 2020, payable on November 17, 2020. This dividend, combined with earlier payments of $0.25, $0.01, and $0.01 from Q1 to Q3, totals $0.28 per share for the year. Shareholders of record by October 26, 2020 will receive the dividend, subject to a 15% Dutch withholding tax. Future dividends will depend on the company's financial health and other relevant factors.

Core Laboratories (NYSE: CLB) will host its third quarter 2020 conference call on October 22, 2020, at 7:30 a.m. CDT / 2:30 p.m. CEST. Key executives including CEO Larry Bruno and CFO Chris Hill will discuss financial and operational results. An earnings press release will be available after market close on October 21. Interested participants can join the live webcast on the company's website, with a replay available for ten days. Core Laboratories operates over 70 offices globally, providing services to optimize petroleum reservoir performance.

Core Laboratories N.V. (CLB) reported second-quarter 2020 revenue of $115.7 million, which includes a $13.3 million charge related to severance and inventory write-downs. The company recorded an operating loss of $2.6 million and a diluted loss per share of $0.13, while operating income, excluding items, was $10.7 million with margins of 9.2%. Core generated free cash flow of $23.9 million, marking its 75th consecutive quarter of positive cash flow. Cost reductions of approximately $61 million annually were initiated in response to COVID-19 disruptions, with expectations for further alignment with client activities.