Expro acquired Enhanced Drilling for $209.3 million. It reported a net loss of $5,201 thousand for the three months ended September 30, 2026 and authorized up to $100.0 million of ordinary-share repurchases through December 31, 2027.
XPRO · Expro Ltd
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Expro reported third-quarter revenue of $440 million and adjusted EBITDA of $91 million, raising 2026 adjusted free cash flow guidance to $140 million to $150 million while fourth-quarter adjusted EBIT expectations were tempered by approximately $20 million.
Expro reported a $5 million net loss for the quarter ended September 30, 2026, generated $52 million of adjusted free cash flow, and raised 2026 adjusted free cash flow guidance to $140 - $150 million.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
AI Brief
Q2 FY26 earnings call · Jul 28, 2026TL;DR. Expro (XPRO) reported Q2 revenue of $393M and adjusted EBITDA of $76M (19.3% margin), but raised full-year revenue guidance to $1.65–$1.70B while narrowing adjusted EBITDA to $355–$365M (top end cut from $375M) as Middle East conflict impacts are now expected to persist through year-end, with the recently closed Enhanced Drilling acquisition contributing five months of results.
- + Closed Enhanced Drilling acquisition adding a high-margin (>30%) differentiated technology
- + Adjusted EBITDA margin expected to expand to >24% in H2 and >26% in Q4
- + Drive 25 self-help program delivering over $40M in annual structural cost savings
- − Middle East conflict impacts now expected to persist through year-end rather than normalize in H2
- − Coretrax high-margin product line incremental contribution reduced, with some activity slipping into 2027
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
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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 Strong SellIllustrative 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 |
|---|---|---|---|
| Total Segment EBITDA | $115.2M | FY2026 Q3 | -1.8% |
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| Adjusted EBITDA non-GAAP | $76M | three months ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Net income (loss) 2.03M
+8.15M Income tax expense
+45.79M Depreciation and amortization expense
+2.57M Severance and other expense
+3.63M Merger and integration expense
+242K Other expense (income), net
+9.56M Stock-based compensation expense
+1.35M Foreign exchange loss (gain)
+2.71M Interest and finance expense, net
= Adjusted EBITDA 76.04M
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| Adjusted EBITDA margin non-GAAP | 19.3% | three months ended June 30, 2026 filing | — |
| Segment EBITDA - APAC non-GAAP | $8.54M | Three Months Ended June 30, 2026 filing | — |
| Segment EBITDA - ESSA non-GAAP | $34.07M | Three Months Ended June 30, 2026 filing | — |
| Segment EBITDA - MENA non-GAAP | $32.72M | Three Months Ended June 30, 2026 filing | — |
| Segment EBITDA - NLA non-GAAP | $26.08M | Three Months Ended June 30, 2026 filing | — |
| Segment EBITDA margin - APAC non-GAAP | 18.1% | three months ended June 30, 2026 filing | — |
| Segment EBITDA margin - ESSA non-GAAP | 26.9% | three months ended June 30, 2026 filing | — |
| Segment EBITDA margin - MENA non-GAAP | 36.3% | three months ended June 30, 2026 filing | — |
| Segment EBITDA margin - NLA non-GAAP | 20.2% | three months ended June 30, 2026 filing | — |
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
|
$1.51B | +1.2% | — | — | 6.2% |
|
SLB
Slb Limited
|
$76.27B | +34.6% | +9.5% | 25.3 | 3.9% |
|
BKR
Baker Hughes Co
|
$49.10B | +8.6% | -0.3% | — | 2.4% |
|
TS
Tenaris SA
|
$30.93B | +59.3% | — | — | 0.7% |
|
HAL
Halliburton Co
|
$27.94B | +19.5% | +22.5% | — | 4.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 3, 2026
- This year
- 7
Expro acquired Enhanced Drilling for $209.3 million. It reported a net loss of $5,201 thousand for the three months ended September 30, 2026 and authorized up to $100.0 million of ordinary-share repurchases through December 31, 2027.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| XPRO | +2.4% | -16.4% | -15.0% | -21.7% | +1.2% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -0.2% | -15.2% | -15.5% | -21.6% | -9.4% |
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.