Expro Group Holdings N.V. reported strong second-quarter 2025 financial results, with revenue of $423 million, exceeding the top end of its guidance range. Net income for the quarter was $18 million, resulting in a 4% net income margin, while Adjusted EBITDA reached $94 million, also surpassing guidance.
The company achieved a record-setting Adjusted EBITDA margin of 22%, marking its third consecutive quarter of margins at the highest levels in its history. Expro generated $48 million in cash flow from operations and $36 million in adjusted free cash flow, reaffirming its commitment to return approximately $40 million in stock to shareholders annually.
Expro reaffirmed its full-year 2025 guidance, anticipating revenue of circa $1.7 billion and Adjusted EBITDA of at least $350 million, with adjusted free cash flow projected at approximately $110 million. The company also secured $595 million in new order awards, contributing to a total order backlog of $2.3 billion.
Key operational achievements included the introduction of the BRUTE® Armor Packer, the fully automated Remote Clamp Installation System (RCIS) in the North Sea, and the world’s first fully remote five-plug cementing operation. These technologies provide competitive advantages and create future revenue opportunities with improved margins.
The company further strengthened its financial flexibility by entering into a new senior secured revolving credit facility of up to $500 million, maturing in July 2029, which replaces the previous facility. This enhanced liquidity supports general corporate purposes, acquisitions, and investments.
Significant contract wins included a multi-year, multi-rig contract in Guyana valued over $120 million, a three-year contract with Woodside Energy for Mexico's first deepwater oil production facility, and over $50 million in Brazil for production optimization and well decommissioning solutions.
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