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Why Core Laboratories Rose 5% Today

TheMotleyFool

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Shares of oil service company Core Laboratories (NYSE: CLB) jumped 9% early today and remain up 5% as of 10 a.m. EDT. The bump in the stock price, which is down nearly 60% year to date, comes after the company reported its third-quarter earnings yesterday.

The company continues to struggle through the downturn in the oil industry due to impacts from the COVID-19 pandemic, as well as disruptions in the quarter from four tropical weather systems in the Gulf of Mexico.

But Core Labs was able to report free cash flow of $18.5 million, representing the 76th straight quarter of positive free-cash-flow generation.

Source Fool.com

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