Core Laboratories (CLB) Tops Q4 EPS by 3c, Revenues Beat

Core Laboratories (NYSE: CLB) reported Q4 EPS of $0.18, $0.03 better than the analyst estimate of $0.15. Revenue for the quarter came in at $113.75 million versus the consensus estimate of $108.98 million.

Core's CEO, Larry Bruno stated, "Core's fourth quarter results demonstrate the dedicated efforts of our innovative staff, the durability and adaptability of the business model, as well as the benefits of the cost reduction plans that were quickly enacted earlier this year. Despite the challenges encountered in 2020, after adjusting for non-cash impairments, Core generated sector-leading operating margins, four consecutive quarters of positive earnings, and positive free cash flow for 2020. This performance enabled the Company to reduce net debt by $48,700,000 throughout the year, while continuing to fund capital investments for growth initiatives. As we embark on 2021, Core remains well-positioned to navigate today's challenging market and capitalize on future growth opportunities, while providing innovative solutions that drive efficiency and reservoir optimization for our clients."

For earnings history and earnings-related data on Core Laboratories (CLB) click here.

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