Expro Group Holdings N.V. reported third-quarter 2024 revenue of $423 million, marking a 14% increase year-over-year, despite a 10% sequential decrease. Net income reached $16 million, a significant improvement from a net loss of $14 million in the prior-year quarter, with an Adjusted EBITDA of $85 million, up 69% year-over-year.
The company refined its full-year 2024 guidance, projecting revenue between $1.72 billion and $1.75 billion, and Adjusted EBITDA between $335 million and $350 million, maintaining an Adjusted EBITDA margin of approximately 20%. For the fourth quarter of 2024, Expro anticipates revenue between $440 million and $470 million, with Adjusted EBITDA expected to be in the range of $90 million to $105 million.
Expro secured $354 million in new contract wins during the quarter, excluding Coretrax and PRT Offshore, contributing to a stable backlog of approximately $2.3 billion. Notable technological achievements included the CENTRI-FI™ Consolidated Controls solution winning a 2024 Special Meritorious Award for Engineering Innovation, highlighting the company's commitment to advanced, efficient, and safe well construction solutions.
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