Expro Group Holdings N.V. Q2 2024 Revenue Up Year-Over-Year

TL;DR

Expro Q2 revenue up to $117.4M vs $110M last year. Assets $3.6B, Liabilities $3.4B.

AI Summary

Expro Group Holdings N.V. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $3,584,181 and total liabilities of $3,360,217 for the six months ended June 30, 2024. Revenue for the second quarter of 2024 was $117,380,710, compared to $110,029,694 for the same period in 2023.

Why It Matters

This filing provides insight into Expro's financial performance in Q2 2024, indicating revenue growth which could signal market recovery or successful business strategies in the oil and gas services sector.

Risk Assessment

Risk Level: medium — The filing details financial performance and operational data, which are crucial for assessing the company's stability and future prospects in a volatile industry.

Key Numbers

• $3.58B — Total Assets (As of June 30, 2024, for the six-month period.)
• $3.36B — Total Liabilities (As of June 30, 2024, for the six-month period.)
• $117.4M — Q2 2024 Revenue (Represents an increase from the prior year's Q2 revenue.)
• $110.0M — Q2 2023 Revenue (The comparative revenue figure for the second quarter of the previous year.)

Key Players & Entities

• EXPRO GROUP HOLDINGS N.V. (company) — Filer
• 0001575828 (company) — Central Index Key
• 713-463-9776 (dollar_amount) — Business Phone
• 20240630 (date) — Period of Report
• $3,584,181 (dollar_amount) — Total Assets for six months ended June 30, 2024
• $3,360,217 (dollar_amount) — Total Liabilities for six months ended June 30, 2024
• $117,380,710 (dollar_amount) — Revenue for Q2 2024
• $110,029,694 (dollar_amount) — Revenue for Q2 2023

FAQ

Filing Documents

• fi20240630_10q.htm (10-Q) — 1620KB
• ex_698471.htm (EX-2.2) — 74KB
• ex_700749.htm (EX-2.3) — 50KB
• ex_677286.htm (EX-10.1) — 96KB
• ex_698472.htm (EX-10.2) — 205KB
• ex_677287.htm (EX-31.1) — 12KB
• ex_677288.htm (EX-31.2) — 12KB
• ex_677289.htm (EX-32.1) — 5KB
• ex_677290.htm (EX-32.2) — 5KB
• aonlogo.jpg (GRAPHIC) — 2KB
• cmslogo.jpg (GRAPHIC) — 4KB
• 0001437749-24-023473.txt ( ) — 8711KB
• xpro-20240630.xsd (EX-101.SCH) — 76KB
• xpro-20240630_cal.xml (EX-101.CAL) — 71KB
• xpro-20240630_def.xml (EX-101.DEF) — 455KB
• xpro-20240630_lab.xml (EX-101.LAB) — 392KB
• xpro-20240630_pre.xml (EX-101.PRE) — 503KB
• fi20240630_10q_htm.xml (XML) — 1453KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Statements of Operations (Unaudited) for the Three and Six Months Ended June 30, 2024 and 2023 1 Condensed Consolidated Statements of Comprehensive Income (Unaudited) for the Three and Six Months Ended June 30, 2024 and 2023 2 Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Cash Flows (Unaudited) for the Six Months Ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) for the Three and Six Months Ended June 30, 2024 and 2023 5 Notes to the Unaudited Condensed Consolidated Financial Statements 6 Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 44 Item 4.

Controls and Procedures

Controls and Procedures 44

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 45 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45 Item 5. Other Information 45 Item 6. Exhibits 46

Signatures

Signatures 47 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Expro Group Holdings N.V. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except share data) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Total revenue $ 469,642 $ 396,917 $ 853,131 $ 736,196 Operating costs and expenses: Cost of revenue, excluding depreciation and amortization expense ( 366,520 ) ( 318,948 ) ( 675,007 ) ( 608,595 ) General and administrative expense, excluding depreciation and amortization expense ( 26,225 ) ( 16,186 ) ( 45,438 ) ( 29,471 ) Depreciation and amortization expense ( 40,647 ) ( 37,235 ) ( 80,793 ) ( 71,972 ) Merger and integration expense ( 8,789 ) ( 1,377 ) ( 10,950 ) ( 3,515 ) Severance and other income (expense) 236 ( 2,663 ) ( 4,826 ) ( 3,590 ) Total operating cost and expenses ( 441,945 ) ( 376,409 ) ( 817,014 ) ( 717,143 ) Operating income 27,697 20,508 36,117 19,053 Other income (expense), net 334 ( 1,462 ) 819 ( 2,411 ) Interest and finance expense, net ( 3,666 ) ( 17 ) ( 6,818 ) ( 1,315 ) Income before taxes and equity in income of joint ventures 24,365 19,029 30,118 15,327 Equity in income of joint ventures 4,856 2,805 8,714 5,241 Income before income taxes 29,221 21,834 38,832 20,568 Income tax expense ( 13,935 ) ( 12,539 ) ( 26,223 ) ( 17,624 ) Net income $ 15,286 $ 9,295 $ 12,609 $ 2,944 Earnings per common share: Basic $ 0.13 $ 0.09 $ 0.11 $ 0.03 Diluted $ 0.13 $ 0.08 $ 0.11 $ 0.03 Weighted average common shares outstanding: Basic 113,979,860 108,662,509 112,078,160 108,758,078 Diluted 114,923,702 109,381,977 113,688,752 109,975,739 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 Table of Contents Expro Group Holdings N.V. Con

View Full Filing

View this 10-Q filing on SEC EDGAR