Core Laboratories N.V. Up 7.59% To $22.53 After Earnings Beat

Core Laboratories N.V. (CLB) surpassed earnings projections on 4/26/2023 for Q1 2023.

Core Laboratories N.V.'s earnings came in at an EPS of $0.19 per share, 19.00% higher than estimates for an EPS of $0.16 per share. The firm's earnings are up 138% since reporting $0.08 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $128.4 million. That is an increase of 11.32% in revenues from the year-ago report and is 1.93% higher than consensus estimates set at $125.9 million.

The stock is up 7.59% to $22.53 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Core Laboratories N.V. a Bearish Sentiment Rank from InvestorsObserver.

Core Laboratories N.V. has performed a little above average during the past few months. Before the report, Core Laboratories N.V. received a Long-Term Technical Rank by InvestorsObserver of 66, putting it in the top half of stocks. The firm set a 52-week low on September 26, 2022 at $13.19 and set a 52-week high on June 8, 2022 at $31.42.

Core Laboratories is the premier provider of reservoir description and production enhancement services for oil and gas exploration, production. It provides data and analytics to aid well operators in determining optimal methods for recovering, processing, and refining hydrocarbons from a well. It also manufactures the associated lab equipment for its services.