Expro Reports Q3 2026 Growth Driven by Enhanced Drilling Acquisition
Expro (XPRO) reported strong third-quarter results for 2026, with revenue reaching $439.9 million, a 12% sequential increase driven by higher activity in core business lines and the integration of the Enhanced Drilling acquisition. Adjusted EBITDA rose 20% sequentially to $91.2 million, yielding a margin of 20.7%. The company also raised its full-year adjusted free cash flow guidance to a range of $140 million to $150 million. Despite the strong quarterly performance, management issued a more cautious Q4 Adjusted EBITDA outlook of $100 million to $110 million, representing a $20 million reduction from previous expectations. This adjustment is due to deferred subsea and well intervention activity caused by environmental factors like loop currents in the U.S. Gulf. Looking ahead to 2027, Expro expects mid-teen growth in adjusted EBITDA and over 20% growth in adjusted free cash flow.
Tickers: $XPRO
Topics: Acquisition Impact Adjusted EBITDA Financial Guidance Free Cash Flow Revenue Growth