Why Core Laboratories Stock Is Slumping Today
After Core Labs (NYSE: CLB) reported first-quarter results, its shares fell as much as 7.8% in early morning trading on Thursday. While those numbers beat expectations, the timing of a recovery in its results and the impact of the Russia-Ukraine conflict weighed on the oilfield service company's outlook.
On the one hand, Core Labs posted better-than-expected first-quarter results. Revenue came in at $115.3 million, up 6% year over year and above its revised guidance range of $110 million-$113 million. Meanwhile, adjusted earnings were $0.08 per share, hitting the top end of its $0.05 to $0.08 per share forecast.
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Source Fool.com
