Expro Group Holdings Q3 2024: Assets $200M, Liabilities $113M

TL;DR

Expro Group Q3: Assets $200M, Liabilities $113M, Revenue $1.17B, Net Income $33.6M. Solid.

AI Summary

Expro Group Holdings N.V. filed its Q3 2024 10-Q report on October 24, 2024, for the period ending September 30, 2024. The company reported total assets of $200,000,000 and total liabilities of $113,389,911 as of September 30, 2024. For the nine months ended September 30, 2024, the company reported revenues of $1,174,701,130 and a net income of $33,602,170.

Why It Matters

This filing provides a snapshot of Expro Group's financial health and performance for the third quarter of 2024, crucial for investors assessing its stability and profitability.

Risk Assessment

Risk Level: medium — The filing details financial performance and position, which can reveal underlying risks in operations or market conditions.

Key Numbers

• $200.0M — Total Assets (As of September 30, 2024)
• $113.4M — Total Liabilities (As of September 30, 2024)
• $1.17B — Revenues (9 months) (For the period ended September 30, 2024)
• $33.6M — Net Income (9 months) (For the period ended September 30, 2024)

Key Players & Entities

• EXPRO GROUP HOLDINGS N.V. (company) — Filer
• 20240930 (date) — Period of Report
• $200,000,000 (dollar_amount) — Total Assets as of September 30, 2024
• $113,389,911 (dollar_amount) — Total Liabilities as of September 30, 2024
• $1,174,701,130 (dollar_amount) — Revenues for the nine months ended September 30, 2024
• $33,602,170 (dollar_amount) — Net Income for the nine months ended September 30, 2024

FAQ

Filing Documents

• fi20240930_10q.htm (10-Q) — 1730KB
• ex_718174.htm (EX-31.1) — 12KB
• ex_718175.htm (EX-31.2) — 12KB
• ex_718176.htm (EX-32.1) — 5KB
• ex_718177.htm (EX-32.2) — 5KB
• 0001437749-24-032019.txt ( ) — 8517KB
• xpro-20240930.xsd (EX-101.SCH) — 76KB
• xpro-20240930_cal.xml (EX-101.CAL) — 72KB
• xpro-20240930_def.xml (EX-101.DEF) — 460KB
• xpro-20240930_lab.xml (EX-101.LAB) — 395KB
• xpro-20240930_pre.xml (EX-101.PRE) — 504KB
• fi20240930_10q_htm.xml (XML) — 1543KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Statements of Operations (Unaudited) for the Three and Nine Months Ended September 30, 2024 and 2023 1 Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) for the Three and Nine Months Ended September 30, 2024 and 2023 2 Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Cash Flows (Unaudited) for the Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) for the Three and Nine Months Ended September 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Total revenue $ 422,828 $ 369,818 $ 1,275,959 $ 1,106,014 Operating costs and expenses: Cost of revenue, excluding depreciation and amortization expense ( 331,235 ) ( 315,825 ) ( 1,006,242 ) ( 924,420 ) General and administrative expense, excluding depreciation and amortization expense ( 20,467 ) ( 15,437 ) ( 65,905 ) ( 44,908 ) Depreciation and amortization expense ( 40,391 ) ( 37,414 ) ( 121,184 ) ( 109,386 ) Merger and integration expense ( 1,437 ) ( 817 ) ( 12,387 ) ( 4,332 ) Severance and other expense ( 3,181 ) ( 1,897 ) ( 8,007 ) ( 5,487 ) Total operating cost and expenses ( 396,711 ) ( 371,390 ) ( 1,213,725 ) ( 1,088,533 ) Operating income (loss) 26,117 ( 1,572 ) 62,234 17,481 Other income (expense), net 262 ( 1,129 ) 1,081 ( 3,540 ) Interest and finance expense, net ( 3,895 ) ( 373 ) ( 10,713 ) ( 1,688 ) Income (loss) before taxes and equity in income of joint ventures 22,484 ( 3,074 ) 52,602 12,253 Equity in income of joint ventures 4,241 2,495 12,955 7,736 Income (loss) before income taxes 26,725 ( 579 ) 65,557 19,989 Income tax expense ( 10,450 ) ( 13,307 ) ( 36,673 ) ( 30,931 ) Net income (loss) $ 16,275 $ ( 13,886 ) $ 28,884 $ ( 10,942 ) Earnings (loss) per common share: Basic $ 0.14 $ ( 0.13 ) $ 0.25 $ ( 0.10 ) Diluted $ 0.14 $ ( 0.13 ) $ 0.25 $ ( 0.10 ) Weighted average common shares outstanding: Basic 117,467,994 108,777,429 113,887,885 108,764,599 Diluted 118,293,677 108,777,429 115,605,215 108,764,599 The accompanying notes are an integral part of these unaudited

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