Core Laboratories: 3Q Earnings Snapshot
AMSTERDAM (AP) _ Core Laboratories NV (CLB) on Wednesday reported third-quarter profit of $23.7 million.
On a per-share basis, the Amsterdam-based company said it had profit of 53 cents. Earnings, adjusted for one-time gains and costs, came to 50 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The energy services company posted revenue of $173.2 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $171.6 million.
For the current quarter ending in December, Core Laboratories said it expects revenue in the range of $161 million to $163 million.
Core Laboratories shares have decreased 27% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $43.76, a decrease of 55% in the last 12 months.