and for favorable growth presenting then reviewing the multiyear start a markets, services by press to I'd compelling the quarter we will morning, Good Expro. today's a opportunity to with like exposure energy which for believe macro presented discuss off earnings international companies financial second everyone. offshore release. outlook I environment, offers results in
the provide will commentary additional information. share and Quinn Finally, some additional financial just completed on quarter some
X results to consolidated by that the Slides you direct to of region, X recap posted expro.com. results quarterly I'll of and through presentation a For we
for guidance part Expro the strong with to and I early of exceeding of of the Turning $XXX million to report EBITDA QX am adjusted in X. a revenue due pleased acquisition. both to XXXX quarter Coretrax very closing Slide million, $XX
by compared to XXXX. or sequentially the increased quarter March $XX Revenues ended XX% million
million the was sequential first consistent Excluding usually trends soft to as This by is, increase with $XX revenue Coretrax, experience extent, XX%. a some historical up or sequentially quarter. impact revenue of we seasonally
More in the markets for importantly, reflect very building our results which outlook for second the momentum quarter strong. remains offshore
XXXX. million XX% Coretrax. reported, XXXX As EBITDA Coretrax and of was costs. excluding revenue adjusted XXXX that includes million a EBITDA Note $X of QX LWI-related unrecoverable XXXX QX XX% second quarter impact $X up and adjusted increased year-over-year QX to included QX compared the from XX% contribution
all performance across fall-through The by strong and driven adjusted was regions incremental the EBITDA revenue. activity and product solid on lines increased
in tailwinds $XXX the and business, reflect for refining momentum strong be million and we profitable billion, support for our $X.XX revenue year-to-date million. range to growth to full EBITDA our are $XXX Given between our expectations to billion adjusted continuing and $X.X year be and expectations between to guidance
of end geomarkets my remarks, lines. product and the budgetary and of projects inquiries cover cadence prepared technical for market the across for high our note will pricing toward remains but I outlook that requests
business several years. long-cycle us next that the deepwater, over to confidence Expro's be strong including leverage Our development, sustained least gives currently will at momentum
Turning to the regions.
and million particularly activity Trinidad. quarter had revenue well increased well construction a quarter-over-quarter, was $XXX U.S., and or of reflecting across level an The North teams For Latin quarter $XX and access our strong the NLA product lines. XX% a in million, good of with subsea increase America, activity second Guyana
increased XXXX, QX mix more was XX% in region. favorable up activity XX% segment the activity in the and NLA from at EBITDA margin reflecting a
during our process. the SeaCure had that SeaCure have success This fluid we could potentially cement prevents commercializing the occurred placement in slurry solution. have which pumping without optimal Additionally, further technology, contamination ensures
a flat $XX primarily points $XXX to Sub-Saharan approximately quarter was revenue and increase reflecting sequential X solutions XX% second recognized of project. was our sequentially and XXXX, Europe million relative Africa, down EBITDA lower QX or For on percentage Congo and million, margin margin XX%. at production Segment
business a as Azule delivering ESSA currently Our access the package increased for subsea Agogo second momentum well continue has to quarter, Energy on its Subsea good partners capitalize a we strong in solutions region. project. had activity and particularly
Azule know, entity venture you Angola. of joint most BP's in and is As Eni
Expro Angola, with provide Angola, relationship further awarded was we technology in over and nearby field activity a continue contract to to recently years. expect the also increase in where Eni [indiscernible] our next strengthening subsea for to the several
advanced quarter. also projects several in the other We important
uptime Ghana outstanding achievement in team. team with is strengths. of using X.X development no service an from Expro This years more run landing completed with operational well quality completed has an project subsea This safety incidents campaign was a no along potential no events, our XX.X%. Our for than XX entire injuries, high and
Last our project onshore part reached maintain was Since gas moved clients floating Congo gas quarter, pretreatment first free natural a to in we June, facility. suppressing of introduced Eni facility. we In man-hours then, into as have the incremental from the LNG built million pretreatment construct, a design, liquefied to shared Expro we LTI phase. fast-track commissioning facility milestone the that had and X operate
months contract within gas award. of First XX was
another XX% The revenue. on acquisition fall-through quarter Middle by Africa with Coretrax good at driven and East the North sequentially, $XX largely incremental with up revenue million, team excellent delivered
EBITDA was margin XX% and segment at X points year-over-year. percentage up percentage point quarter-over-quarter MENA about X
personnel. to a Middle The of conventional a contract meters mobilization requires approval onshore additional has for East. multiphase testing Expro units along with and contract XXX operations commence quarter, X-year test This the well received
activity Pacific, Finally, second previous Malaysia relative X% in and million, up quarter, Asia was in revenue quarter increased the $XX primarily reflecting to Australia.
costs. and EBITDA margin up the the XX% LWI-related reflects segment X in over points lower from which prior Pacific was activity percentage Asia of quarter, higher region
our was operations. achieved for proprietary a enhances man riding safety efficiency in part This which our of saved using string installation we elevator, by XX hydraulic using Brunei, of for jet during In by need rig efficiency, platform. eliminating time the and hours cameras
team Expro's for leading well Australia's services executed COX in research of for recompletion successfully the in injector organization. a well CCUS. Otway intervention Basin Australia
We experience of believe gaining will it XX our as enabler in these have CCUS excellent years, over that to well X supported goals. while a valuable industry and key types own clients' continue as globally delivering net projects to support for results, we our be
environmental, have. April, a efforts and In we resulted have in our These commitment also sustainability world. A governance and XXXX. Expro's highlighting towards second in a of increasing third progress the rating report, highest MSCI AA, from our in working rating achievements published we social objectives our being citizen Expro's they to to single The made the
commercial approximately million. Africa subsea I'm awards, sonar build contract $XX continued In momentum, in contracts activity, to terms meters million our pleased have the million strong including on capturing worth for roughly we and of new contract of in $XXX a $XX East Middle
approximately other remains transition to at backlog of maintenance the due of sequential healthy the phase Our end performance of large project operations The strong the a decrease second billion the and quarter, conversion approximately at in revenue of quarter. $X.X Congo was to the projects. the and X%
our an will date and of closed production of well Coretrax technology-enabled well As intervention guidance. May expand earlier is acquisition company with that X, to enable previously of integrity construction we our leading announced, our cost-effective, and solutions. Coretrax effective optimization also assumed is than which us successfully a in portfolio well was integrity
stand-alone for less a Coretrax Xx value transaction acquisition XXXX EBITDA upside. was incremental providing of completed reminder, our than As the estimate at with synergies a
as high technology growth We expect the value-adding leveraging solutions innovative, operating and acquisition Coretrax well footprint. accelerate to integrity Expro's optimization, drilling, of the global by production-enhancing
across efforts our synergies. Integration potential tenders of realize pull-through underway working are to the on world together well teams with the revenue
more the that for long-term M&A consolidation continue be shareholder believe to smart synergies Regarding growth Expro's value. can create additional M&A and is an we accelerate energy effective focused for of services generally, additional health means the and good sector
acquisition to to our to position Our more our allow advance strategy to customers more and relevant would opportunities us to evaluate team our shareholders. relevant and that Expro be continues
approach includes financial and and plan capture we preserves that our rigorous plan cost a will a a criteria has synergies, with revenue that and have pursue starts profile. any M&A a currently strong We set of financing to the which logic, to disciplined opportunities meet industrial
for our like between leverage we and completions for increase We phase OpEx our but optimization to and CapEx drilling what the activity, opportunities continue business be to look growth exposure production a better funded solutions, expect us balance multiyear to to and thereby revenues. to allow that
Expro's we the a for will right through objective. cycle continues be While opportunities, be patient to strategic improving resilience
Strong in by forecasted fundamentals investment quarters a to favorable the with market for Turning day services observed in million growth energy anticipate and of million activity and services the our per sector. barrels solutions, demand outlook. continue reach to support levels over will per growth our market underlying XXXX. driven record positive the past in day few nearly XXXX XXX XXX in outlook multiyear oil We barrels
demand, global will in States. as with significant sustained Expected consumption that United a non-OECD believe primarily We pressure economic cuts in deficit liquids the market A of on extension will XXXX. result in by recent lead in prices. production and Middle Asia fueled the from recovery coupled by with as upward countries growth contribution market a to may robust a be well East the rebound tighter OPEC+
activity. fundamental backdrop and underpin continued will in it minimum, and a positive support At investment a growth
from in notably due discipline continued prices in supply in rose Middle $XX month, per ongoing barrel Europe OPEC+ per Ukraine. geopolitical by $XX barrel uncertainties, above in and conflict the Brent this were and and East January the bolstered to earlier most
builds to Inventories of possibly anticipated summer increase moderate the to likely demand, over a growth oil OPEC+ tighten over and expected countries supply in is market forecast non-OPEC+ to Hemisphere the as remainder expected unwinding the of mid-XXs. prices in demand cuts, XXXX, the support further to is modest to in is to from are leading XXXX. prices weakening Northern The XXXX global over following offset increases months return of
long-cycle international of oil tight, by Expro company is to India, the per provide importantly, barrel with which relatively LNG fundamentally prices U.S. remain our gas markets and markets the offshore above China tailwinds expected Most levered. customers, and stable to particularly and investment decisions recover. should in Outside most support $XX demand, for
has in is segment, XX% projects expected of sanction demand XXXX pipeline to total decisions multiyear and especially levels drives investment global final of of This are in and electric demand the investment exports offshore with commodity record prices term, and to a drive crucial Robust lower continue forecasted a and targets. critical role fuel play energy carbon by to generation net transition continuing of decisions and for greenfield and than XXXX. with towards sustained which investments companies more solutions, increase beyond. X XXXX, high expected services to Longer comprise levels domestic long-term our gas in in
supports increasing grow XXXX trend construction as and our This well expect beyond. throughout access well of subsea businesses management business, well well which flow as elements and to activity in our we further
indicate for and upstream East, be growth the highest particularly by supported by in investments of This is the as Brazil XXXX. driven and XXXX appraisal Forecast areas growth. Norway America. and the Latin Europe, projects in spending in in levels activity in shelf and growth well large as Guyana will driving UAE Africa Significant Saudi segments. America are especially and and the offshore deepwater expected, and Middle since China, South also in exploration sub-Saharan mature in Targeted
increasingly Oman efficient, activity and the their Kuwait, assets, large ongoing Asia Abu the gas America and on Middle integrity intervention the Saudi. LNG developments well production carbon Pacific in This growth returns are and optimization tension land well within especially for continues, demand East, in particularly drives management Latin our regions. maximizing sustainable Operators from flow lower production. existing for Dhabi, in with focusing product the International striving lines, and and cost capabilities
geothermal, as are X Pacific lower activity net in capture increasing, Asia achieve and carbon to in reduce Latin to and America their Europe, Europe upstream in North Finally, investments notable and missions our in also customers with and carbon and in storage targets. growth energies particularly aim
by characterized expect than both have discussed services cost importance previously, of more expansion margin discipline. cycle to up capital we current we so energy As capacity the additions, highlighting be the and
We efficiency, are overall we committed costs, and committed continuing positively of to support impact operational are which optimizing to will equipment and profitability. increasing to both rationalize utilization
Expro efficiency, We the and process access more with services Overall, the continue conversations we energy for Expro through engage production. value in capturing technology, about and also constructive customers very provide remains well enhance wider of positive. sector safe to the outlook
further I'll over Quinn that, the With results. hand financial call to discuss to our
