Why Expro Group Shares Dropped 19.6% on Thursday
Shares of Expro Group Holdings (NYSE: XPRO) fell by as much as 19.6% in trading on Thursday after the drilling and well services company reported its third-quarter financial results. Shares closed the day down 17.4%.
Revenue for the quarter was $370 million, down 7% sequentially, and the company swung from an $18.9 million profit a quarter ago to a loss of $6.2 million, or $0.13 per share.
On an adjusted basis, the loss was $0.06 per share, but that was still well below the $0.30 per share profit that analysts were expecting.
Source Fool.com
