XPRO · Expro Ltd
Price & Indicators
Raw chart and full-history price indicators begin at the captured split on Oct 4, 2021; bars on opposite sides are not compared.
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AI Brief
Q2 FY26 earnings call · Jul 28, 2026TL;DR. Expro reported Q2 2026 revenue of $393 million and adjusted EBITDA of $76 million (19.3% margin) while updating full-year 2026 guidance to incorporate ongoing Middle East conflict impacts and five months of the recently closed Enhanced Drilling acquisition.
- + Q2 revenue grew sequentially to $393 million with $76 million adjusted EBITDA at a 19.3% margin and $56 million of adjusted free cash flow
- + Closed the Enhanced Drilling acquisition, adding a differentiated controlled mud-level drilling technology that can reduce total well costs
- + Repurchased approximately $20 million of shares in Q2 (1.3 million shares at an average $15.42), bringing YTD buybacks to ~$40 million and approaching the annual goal of returning at least one-third of free cash flow
- + CEO views medium- and long-term Middle East outlook as more robust post-conflict, supported by strengthening offshore market indicators such as rising subsea tree orders and rig utilization
- − Management is taking a conservative approach to 2026 guidance due to Middle East uncertainty, with the updated outlook incorporating cumulative disruptions across Q1, Q2 and the rest of the year
- − Middle East conflict has persisted longer than anticipated, dampening near-term activity and limiting visibility into infrastructure condition across the region
- − Capital deployment with Middle East NOC customers is typically slower, and uncertainty around conflict resolution timing could delay project ramp-ups
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | $138.95M | Six Months Ended June 30, 2026 | — |
| Adjusted EBITDA margin non-GAAP | 18% | Six Months Ended June 30, 2026 | — |
| Adjusted free cash flow non-GAAP | $59.52M | Six Months Ended June 30, 2026 | — |
| Adjusted free cash flow margin non-GAAP | 8% | Six Months Ended June 30, 2026 | — |
| Adjusted net income non-GAAP | $27.41M | Six Months Ended June 30, 2026 | — |
| Adjusted net income per diluted share non-GAAP | $0.24 | Six Months Ended June 30, 2026 | — |
| Contribution non-GAAP | $293.09M | Six Months Ended June 30, 2026 | — |
| Contribution margin non-GAAP | 39% | Six Months Ended June 30, 2026 | — |
| Free cash flow non-GAAP | $49.8M | Six Months Ended June 30, 2026 | — |
| Liquidity | $492M | Q2 2026 | — |
| Operating cashflow margin non-GAAP | 14% | Six Months Ended June 30, 2026 | — |
| Segment EBITDA for the ESSA segment | $34M | Q2 2026 | — |
| Segment EBITDA for the MENA segment | $33M | Q2 2026 | — |
| Segment EBITDA for the NLA segment | $26M | Q2 2026 | — |
| Share repurchases | $20M | Q2 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Oil & Gas Equipment & Services — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
XPRO
this stock
Expro Ltd
|
$2.04B | +31.9% | — | — | 6.6% |
|
SLB
Slb Limited/Nv
|
$85.09B | +49.4% | +9.5% | 28.0 | 3.7% |
|
BKR
Baker Hughes Co
|
$63.08B | +39.5% | -0.3% | — | 2.4% |
|
HAL
Halliburton Co
|
$30.14B | +28.0% | +22.5% | — | 3.7% |
|
FTI
TechnipFMC plc
|
$29.74B | +70.2% | +9.4% | 26.4 | 3.3% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
Raw-price comparisons begin at the captured split on Oct 4, 2021; windows that need an earlier baseline remain unavailable.
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| XPRO | -3.4% | +10.4% | +3.7% | +10.4% | +31.9% |
| SPY | +0.5% | +3.0% | +13.4% | +3.0% | +12.8% |
| vs SPY | -3.8% | +7.4% | -9.8% | +7.4% | +19.1% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.