Core Laboratories (CLB) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Core Laboratories (CLB) reported revenue of $125.34 million, down 0.5% over the same period last year. EPS came in at $0.22, compared to $0.18 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $129.32 million, representing a surprise of -3.08%. The company delivered an EPS surprise of -4.35%, with the consensus EPS estimate being $0.23.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Core Laboratories performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Production Enhancement: $40.20 million compared to the $43.76 million average estimate based on three analysts. The reported number represents a change of -14.4% year over year.
Revenue- Reservoir Description: $85.15 million versus the three-analyst average estimate of $85.45 million. The reported number represents a year-over-year change of +7.8%.
Operating Income- Reservoir Description- Excluding specific items: $14.08 million versus $10.81 million estimated by three analysts on average.
Operating Income- Corporate and Other- Excluding specific items: $0.28 million compared to the $1.18 million average estimate based on three analysts.
Operating Income- Production Enhancement- Excluding specific items: $1.64 million versus $4.59 million estimated by three analysts on average.
View all Key Company Metrics for Core Laboratories here>>>
Shares of Core Laboratories have returned -8.5% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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