Replies to post #16557 on The Rising Influence of Rising Affluence

[DewDiligence]

CLB 1Q18 addendum: Management says the Reservoir Description segment, which is responsible for about 2/3 of overall revenue and is closely tied to international deep-water projects, bottomed in 1Q18.

CLB’s overall revenue and profit bottomed in 3Q16 and has recovered nicely since then due to resumed growth in the Production Enhancement segment, which is closely tied to US shale activity.

[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].