“For 2024, we expect improving profitability to drive improved cash flow generation as we capitalize on tailwinds in our industry. Based on our strong performance in 2023 and a positive activity outlook, we currently anticipate generating revenues of between $1,600 million to $1,700 million in 2024. Adjusted EBITDA in 2024 is expected to be between $325 million and $375 million, and Adjusted EBITDA margin is expected to be between 20% and 22%. Full-year guidance assumes our proposed acquisition of Coretrax will be completed at the beginning of the third quarter. Consistent with historical patterns, revenue and profitability in the first quarter of 2024 are expected to be negatively impacted by the winter season in the Northern Hemisphere and the budget cycles of our national oil company customers. First quarter revenue is expected to be within a range of $365 million and $375 million. First quarter Adjusted EBITDA is expected to be within a range of $63 million and $73 million and Adjusted EBITDA margin is expected to be approximately 18%.”
Expro Group Expects 2024 Revenue Of $1.60B-$1.70B Vs. $4.62B Est.; Sees Adjusted EBITDA Of $325M-$375M. For Q1 Sees Revenue Of $365M-$375M Vs. $376M Est., And Adjusted EBITDA Of $63M-$73M
Company Profile
Wed. 21 Feb 2024, 7:05am ET
Benzinga
Earnings, News, Guidance