Research Desk Line-up: Schlumberger Post Earnings Coverage
LONDON, UK / ACCESSWIRE / October 31, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Core Laboratories N.V. (NYSE: CLB), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=CLB, following the Company's disclosure of its financial results on October 23, 2017, for the third quarter of the fiscal year 2017. The Company's revenue increased 15.9% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Get more of our free earnings reports coverage from other constituents of the Oil & Gas Equipment & Services industry. Pro-TD has currently selected Schlumberger Limited (NYSE: SLB) for due-diligence and potential coverage as the Company reported on October 20, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on Schlumberger when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CLB; also brushing on SLB. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/?symbol=CLB
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Earnings Reviewed
For the three months ended September 30, 2017, Core Laboratories' revenues increased 15.9% to $166.25 million from $143.48 million in Q3 FY16. The revenue numbers surpassed analysts' expectations of $161 million.
During Q3 FY17, the Company's G&A expenses increased 41.4% to $11.89 million from $8.41 million in the same period of last year. For the reported quarter, Core Laboratories' D&A expenses decreased 9.4% to $6.09 million from $6.72 million in Q3 FY16. For the reported quarter, the Company's total operating expenses increased 13.8% to $138.77 million from $122.0 million in Q3 FY16.
During Q3 FY17, Core Laboratories' operating income increased 27.9% to $27.48 million from $21.49 million in the comparable period of last year. For the reported quarter, the Company's operating margin increased 160 basis points to 16.5% of revenue from 14.9% of revenue in Q3 FY16.
For the reported quarter, Core Laboratories' net income increased 26% to $21.09 million on a y-o-y basis from $16.73 million in Q3 FY16. During Q3 FY17, Core Laboratories' diluted earnings per share (EPS) increased 26.3% to $0.48 on a y-o-y basis from $0.38 in the corresponding period of last year. The diluted EPS surpassed analysts' expectations of $0.44.
Segment Details
Reservoir Description - During Q3 FY17, Core Laboratories' Reservoir Description segment's revenue decreased 3.8% to $101.44 million from $105.43 million in the same period of last year. For the reported quarter, the segment's operating income decreased 31.3% to $14.62 million from $21.27 million in Q3 FY16.
Production Enhancement - During Q3 FY17, Core Laboratories' Production Enhancement segment's revenue increased 70.3% to $64.81 million from $38.06 million in the comparable period of last year, due to an increased demand for the Company's advanced technology solutions. For the reported quarter, the segment's operating income was $12.97 million compared to $118,000 in Q3 FY16.
Balance Sheet
As on September 30, 2017, Core Laboratories' cash and cash equivalents decreased 6.7% to $13.78 million from $14.76 million as on December 31, 2016.
During Q3 FY17, the Company's net accounts receivables increased 13.4% to $129.66 million from $114.33 million in Q4 FY16.
For the reported quarter, Core Laboratories' inventory increased 2.3% to $34.50 million from $33.72 million in the fourth quarter of 2016.
During Q3 FY17, the Company's total assets increased 1.7% to $582.74 million from $573.05 million in Q4 FY16.
For the reported quarter, Core Laboratories' accounts payable increased 3.5% to $34.90 million from $33.72 million in Q4 FY16.
During Q3 FY17, the Company's long-term debts and lease obligations increased 8% to $233.86 million from $216.49 million in the fourth quarter of 2016.
During Q3 FY17, Core Laboratories' cash provided by operating activities decreased 14.3% to $29.88 million from $34.87 million in the corresponding period of last year. During Q3 FY17, the Company's capital expenditure was $4.90 million and free cash flow was 24.98 million.
Outlook
For Q4 FY17, Core Laboratories expects revenue to be $171.50 million; operating income to be $32.80 million; and EPS to be $0.58.
Stock Performance
On Monday, October 30, 2017, Core Laboratories' stock closed the trading session at $97.65, climbing 2.66% from its previous closing price of $95.12. A total volume of 1.19 million shares were exchanged during the session, which was above the 3-month average volume of 525.57 thousand shares. Shares of the Company have a PE ratio of 56.31 and have a dividend yield of 2.25%. The stock currently has a market cap of $4.31 billion.
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