NYSE: XPRO
Expro LtdCIK 0002126198 · SIC 1389 · Oil & Gas Field Services, NEC
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10-Q
Filed Jul 28, 2026
· Period ending Jun 30, 2026
Summary not yet generated.
8-K
Filed Jul 28, 2026
· Period ending Jul 28, 2026
Summary not yet generated.
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424B3
Filed Apr 21, 2026
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Latest financial statements
From 10-Q filed Jul 28, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(In thousands, except share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Total revenue | 393,182 | 422,740 | 760,755 | 813,612 |
| Operating costs and expenses: | ||||
| Cost of revenue, excluding depreciation and amortization expense | (311,158) | (319,981) | (608,772) | (625,473) |
| General and administrative expense, excluding depreciation and amortization expense | (19,655) | (14,499) | (37,549) | (36,313) |
| Depreciation and amortization expense | (45,792) | (46,716) | (91,187) | (92,137) |
| Merger and integration expense | (3,634) | (2,267) | (3,922) | (4,007) |
| Severance and other expense | (2,572) | (6,711) | (5,798) | (12,793) |
| Total operating cost and expenses | (382,811) | (390,174) | (747,228) | (770,723) |
| Operating income | 10,371 | 32,566 | 13,527 | 42,889 |
| Other (expense) income, net | (242) | 280 | 105 | 1,934 |
| Interest and finance expense, net | (2,712) | (4,279) | (4,263) | (7,730) |
| Income before taxes and equity in income of joint ventures | 7,417 | 28,567 | 9,369 | 37,093 |
| Equity in income of joint ventures | 2,763 | 3,395 | 5,994 | 7,101 |
| Income before income taxes | 10,180 | 31,962 | 15,363 | 44,194 |
| Income tax expense | (8,152) | (13,959) | (14,369) | (12,243) |
| Net income | 2,028 | 18,003 | 994 | 31,951 |
| Earnings per common share: | ||||
| Basic | 0.02 | 0.16 | 0.01 | 0.28 |
| Diluted | 0.02 | 0.16 | 0.01 | 0.27 |
| Weighted average common shares outstanding: | ||||
| Basic | 113,098,653 | 115,444,915 | 113,360,028 | 115,829,219 |
| Diluted | 114,446,970 | 115,508,918 | 115,049,304 | 116,216,865 |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets: | ||
| Current assets | ||
| Cash and cash equivalents | 199,531 | 196,093 |
| Restricted cash | 35 | 1,380 |
| Accounts receivable, net | 477,237 | 477,026 |
| Inventories | 170,586 | 167,895 |
| Income tax receivables | 38,181 | 31,654 |
| Other current assets | 98,202 | 86,287 |
| Total current assets | 983,772 | 960,335 |
| Property, plant and equipment, net | 514,613 | 523,157 |
| Investments in joint ventures | 79,779 | 78,706 |
| Intangible assets, net | 227,974 | 251,329 |
| Goodwill | 348,558 | 348,558 |
| Operating lease right-of-use assets | 77,796 | 72,777 |
| Non-current accounts receivable, net | 7,432 | 7,432 |
| Post-retirement benefits | 3,396 | - |
| Other non-current assets | 17,018 | 17,141 |
| Total assets | 2,260,338 | 2,259,435 |
| Liabilities and stockholders’ equity: | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | 304,808 | 268,588 |
| Income tax liabilities | 54,131 | 51,111 |
| Finance lease liabilities | 1,540 | 2,359 |
| Operating lease liabilities | 20,317 | 18,225 |
| Other current liabilities | 99,835 | 103,379 |
| Total current liabilities | 480,631 | 443,662 |
| Long-term borrowings | 79,065 | 79,065 |
| Deferred tax liabilities, net | 15,154 | 19,513 |
| Post-retirement benefits | - | 314 |
| Non-current finance lease liabilities | 12,124 | 12,762 |
| Non-current operating lease liabilities | 58,259 | 56,103 |
| Uncertain tax positions | 73,355 | 77,890 |
| Other non-current liabilities | 36,198 | 36,003 |
| Total liabilities | 754,786 | 725,312 |
| Commitments and contingencies (Note 17) | ||
| Stockholders’ equity: | ||
| Common stock, €0.06 nominal value, 200,000 shares authorized, 122,590 and 122,384 shares issued | 8,570 | 8,559 |
| Treasury stock (at cost) 10,379 and 8,823 shares | (154,153) | (127,137) |
| Additional paid-in capital | 2,107,739 | 2,110,177 |
| Accumulated other comprehensive income | 17,931 | 18,053 |
| Accumulated deficit | (474,535) | (475,529) |
| Total stockholders’ equity | 1,505,552 | 1,534,123 |
| Total liabilities and stockholders’ equity | 2,260,338 | 2,259,435 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | 994 | 31,951 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization expense | 91,187 | 92,137 |
| Equity in income of joint ventures | (5,994) | (7,101) |
| Stock-based compensation expense | 15,554 | 14,282 |
| Elimination of unrealized loss on sales to joint ventures | 260 | - |
| Deferred taxes | (4,360) | (16,049) |
| Unrealized foreign exchange loss (gain) | 3,127 | (6,047) |
| Changes in assets and liabilities: | ||
| Accounts receivable, net | (1,995) | 15,118 |
| Inventories | (2,691) | (9,020) |
| Other assets | (11,921) | (11,557) |
| Accounts payable and accrued liabilities | 34,852 | (17,289) |
| Other liabilities | (4,614) | 12,931 |
| Income taxes, net | (8,042) | (6,599) |
| Dividends received from joint ventures | 4,662 | 498 |
| Other | (4,273) | (3,333) |
| Net cash provided by operating activities | 106,746 | 89,922 |
| Cash flows from investing activities: | ||
| Capital expenditures | (56,948) | (54,316) |
| Proceeds from disposal of assets | - | 5,000 |
| Net cash used in investing activities | (56,948) | (49,316) |
| Cash flows from financing activities: | ||
| Release of (cash pledged for) collateral deposits, net | 113 | (415) |
| Proceeds from borrowings | 1,794 | - |
| Repurchase of common stock | (39,998) | (15,033) |
| Payment of withholding taxes on stock-based compensation plans | (5,003) | (2,588) |
| Repayment of financed insurance premium | (526) | (4,955) |
| Repayments of finance leases | (1,525) | (887) |
| Net cash used in financing activities | (45,145) | (23,878) |
| Effect of exchange rate changes on cash and cash equivalents | (2,560) | 6,095 |
| Net increase to cash and cash equivalents and restricted cash | 2,093 | 22,823 |
| Cash and cash equivalents and restricted cash at beginning of period | 197,473 | 184,663 |
| Cash and cash equivalents and restricted cash at end of period | 199,566 | 207,486 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except share data); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗