Expro Ltd

XPRO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Expro Group: Damped 2024 Outlook Lowers Our Fair Value Estimate

Joshua Aguilar , Abby Weimer

Oct 15, 2024

No-moat Expro Group recently released an investment thesis that provided updated revenue and EBITDA guidance for the second half of 2024 and 2025. The firm's updated guidance lowers our revenue expectations in the latter half of our forecast period, bringing our fair value estimate down to $22 from $24. The majority of this decrease is due to a drop in our previous forecast's revenue expectations for the Europe and sub-Saharan Africa segment, which is 35% of Expro's business.

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Expro Ltd

Expro Group: Damped 2024 Outlook Lowers Our Fair Value Estimate

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