The Rising Influence of Rising Affluence

[DewDiligence]

CLB cuts 2Q18 guidance due to international weakness:

https://www.sec.gov/Archives/edgar/data/1000229/000100022918000088/exhibit991pressrelease0629.htm

Core continues to expect quarterly sequential improvements throughout 2018 in revenue, operating margins, profits and EPS; however, due to delays in revenue opportunities from international activity, Core now projects that second quarter 2018 results will be only slightly higher than experienced in the first quarter.

The revised guidance for second quarter revenue ranges from $174,000,000 to $175,000,000 [down from the prior range of $177-179M] creating an expected EPS of $0.57 to $0.59 [down from the prior range of $0.64-0.66], exceeding both sequential and year-over-year results.

…The delay in timing of the expected revenue opportunities from international activity improvement will cause third quarter projected results to be similar to the Company’s prior second quarter guidance [i.e. revenue of $177-179M and EPS of $0.64-0.66].