Expro Ltd

XPRO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Expro International Earnings: Elevated Offshore Investment Drives Profitable Revenue Growth

Katherine Olexa

Jul 28, 2023

Expro International performed very well in the second quarter, posting sequential revenue growth of 17% (up 27% year over year) while expanding the firmwide adjusted EBITDA margin nearly 600 basis points (up 175 basis points year over year) quarter over quarter to 18%. We maintain our $22 per share fair value estimate and no-moat rating following results.

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Expro Ltd

Expro International Earnings: Elevated Offshore Investment Drives Profitable Revenue Growth

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