Expro Group Holdings N.V. reported first-quarter 2025 revenue of $391 million. The company achieved an Adjusted EBITDA of $76 million, representing a 20% margin, which is the highest first-quarter Adjusted EBITDA since the Expro/Frank’s merger in the fourth quarter of 2021.
Net income for the quarter was $14 million, translating to a 4% net income margin, a significant improvement compared to a (1)% margin in the first quarter of 2024. Expro provided second-quarter 2025 guidance, expecting revenue between $400 million and $410 million, and Adjusted EBITDA between $80 million and $90 million.
The company secured $272 million in new contract awards during the quarter, including a $50 million Tubular Running Services (TRS) contract in the Gulf of America, $35 million in Brazil, and $15 million for intervention services in Indonesia. Expro also successfully deployed CENTRI-FI™ in Indonesia, the Blackhawk Generation-X Rotational Plug Launcher in Norway, and QPulse™ multiphase flow meter technology in Saudi Arabia's Jafurah field.
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