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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Expro
Expro (XPRO) investor relations material
Expro Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary28 Jul, 2026
Executive summary
Q2 2026 revenue reached $393 million, with adjusted EBITDA of $76 million (19.3% margin) and adjusted free cash flow of $56 million, reflecting strong sequential growth despite Middle East conflict impacts.
Enhanced Drilling acquisition completed for approximately $215 million, adding differentiated MPD technology and expected to be immediately accretive.
Shareholders approved re-domicile from the Netherlands to the Cayman Islands, with a legal name change to Expro Limited.
Drive25 self-help program completed, delivering over $40 million in structural cost removals for 2026.
Continued execution on shareholder returns, including $20 million in Q2 share repurchases.
Financial highlights
Revenue: $393 million, up 7% sequentially from Q1 2026, but down 7% year-over-year.
Adjusted EBITDA: $76 million, margin 19.3%, up 223 basis points quarter-over-quarter.
Adjusted free cash flow: $56 million, margin 14%.
Total liquidity at quarter end was $492 million, including $200 million in cash and $79 million drawn on the revolver.
Net cash position was approximately $121 million after the Enhanced Drilling acquisition.
Outlook and guidance
Full-year 2026 revenue guidance: $1.65–$1.7 billion; Adjusted EBITDA: $355–$365 million; Adjusted free cash flow: $135–$145 million.
Q3 2026 revenue guidance: $435–$455 million; Adjusted EBITDA: $90–$100 million.
Adjusted EBITDA margin projected to exceed 24% in H2 and 26% in Q4.
Guidance assumes Middle East conflict persists through year-end, with conservative estimates for regional recovery and lower Coretrax contributions.
Capital expenditures expected at $110–$120 million for 2026.
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Latest events from Expro
- Shareholders to vote on mergers, governance changes, compensation, and capital authorizations.XPRO
Proxy filing - Q1 2026 revenue was $368M, with a net loss and Enhanced Drilling acquisition announced.XPROQ1 2026
- Redomicile to Cayman Islands proposed, with board citing efficiency, governance, and tax benefits.XPROProxy filing
- Margin expansion, strong cash flow, and $2.5B backlog support a robust 2026 outlook.XPROQ4 2025
- Q3 revenue up 14% year-over-year, with strong margins and robust international contract wins.XPROQ3 2024
- Targeting $2B revenue and mid-20s EBITDA, driven by offshore growth and operational leverage.XPROBarclays 38th Annual CEO Energy-Power Conference
- Q2 revenue up 22% sequentially to $470M, guidance raised on strong results and Coretrax boost.XPROQ2 2024
- Offshore and international growth, margin expansion, and accretive M&A drive a positive outlook.XPROJP Morgan Energy, Power and Renewables Conference
- Record EBITDA, 13% revenue growth, and margin gains set up further improvement in 2025.XPROQ4 2024
Next Expro earnings date
Q3 20263 Nov, 2026
Expro
Next Expro earnings date
Q3 20263 Nov, 2026
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Frequently asked questions
Expro Group Holdings N.V. is a leading provider of energy services, specializing in well construction, well flow management, production, subsea well access, well intervention, and integrity. The company caters to the global energy sector, offering solutions and services to exploration and production companies in both onshore and offshore environments. Expro operates in approximately 60 countries, with its services spanning across regions including North and Latin America, Europe and Sub-Saharan Africa, the Middle East and North Africa, and Asia-Pacific. services industry. Expro Group Holdings N.V. is headquartered in Houston, Texas, and its shares are listed on the New York Stock Exchange.