Core Laboratories Reports Disrupted Operations in Q1 Due to Middle East Conflict and Weather
Core Laboratories reported a significant decline in first-quarter performance due to disruptions caused by the escalation of conflict in the Middle East and severe weather. Revenue fell 12% sequentially, with EBIT and net income also dropping sharply. Management expects some recovery but remains cautious about timing.
Topics: debt earnings free cash flow geopolitical impact outlook revenue decline weather impact