CLB misses 1Q14 EPS guidance due to weather-related and miscellaneous items; lowers full-year 2014 guidance for revenue growth and EPS growth by 200 basis points:
CLB’s prior full-year 2014 guidance had been for YoY revenue growth of ~10% and YoY EPS growth of ~17%, so the new full-year 2014 guidance for both revenue growth and EPS growth is 200 basis points lower than the old guidance.
At its 4pm closing price, CLB was within 3% of its all-time high, but it had sold off slightly this week, perhaps from a leak of the 1Q14 results. In AH trading, CLB is down about 2%, but I expect the sell-off tomorrow to be somewhat larger than that.
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