Expro Group Holdings N.V. (NYSE: XPRO) experienced a sharp 32.11% surge in its share price, closing the previous session at $11.89. The increase came on the heels of its third consecutive quarter of results surpassing expectations.
Record Margins and Robust Backlog
Expro reported revenue of $423 million, exceeding its guidance range ceiling of $410 million. Net income reached $18 million, maintaining a 4% margin, while Adjusted EBITDA stood at $94 million, surpassing the $90 million upper forecast. Free cash flow totaled $27 million, with an adjusted free cash flow of $36 million.
Its Adjusted EBITDA margin of 22% marked its strongest second quarter performance ever, also representing the third consecutive quarter at record margin levels. The order backlog reached $2.3 billion, with $595 million in new order awards—its second-highest level in company history. The firm repurchased $5 million worth of stock, equivalent to approximately 637,000 shares at an average price of $7.87.
Full-Year Guidance Reaffirmed
The company reaffirmed its 2025 guidance, projecting revenue of around $1.7 billion, Adjusted EBITDA of at least $350 million, and adjusted free cash flow of about 7% of revenue (approximately $110 million). Expro intends to return roughly one-third of adjusted free cash flow, or around $40 million, to shareholders annually.
Operational Strength and Market Strategy
Expro credited its Drive25 cost-cutting measures and both organic and inorganic investments targeted at margin growth for its success. With substantial offshore and global exposure, its varied geographic footprint places it in a strong position in developing markets. The company’s exposure to softer locations, such Mexico, Saudi Arabia’s offshore waters, and U.S. land, is minimal.
With fresh business wins demonstrating customer confidence in its service quality, safety standards, and cost-effective solutions, Expro is continuing to create breakthrough technology to maintain its competitive position. In order to achieve continuous success in accordance with its reiterated yearly objectives, the company continues to concentrate on operational execution.
