Core Labs' Q2 Earnings: Mixed Results, Strong Margins, Positive Outlook
Core Laboratories (CLB) has reported its Q2 earnings. While revenues missed slightly, earnings per share met expectations. The company saw increased margins across the board.
Revenue grew year-over-year, from $247.0 million to $263.1 million. However, it fell short of estimates by a small margin. Earnings per share, both non-GAAP and GAAP, showed solid growth, from $1.16 to $1.32 and $1.11 to $1.29 respectively. Margins improved significantly, with gross margin up by 120 basis points, operating margin by 70 basis points, and net margin by 130 basis points.
Looking ahead, the average estimate for the next year is $1.08 billion in revenue and $5.26 EPS. For the next quarter, estimates stand at $270.6 million in revenue and $1.34 EPS. Despite the slight miss in Q2 revenues, analysts maintain a 'hold' opinion on CLB, with an average price target of $138.80. Investors on Motley Fool CAPS also show confidence, with a five-star rating and 658 members rating it as an outperform.
Core Laboratories' Q2 earnings saw mixed results, with revenue growth but a slight miss on expectations. However, earnings per share and margins increased significantly. Future estimates remain positive, and analysts and investors alike maintain a positive outlook on the company.
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