This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Core Lab Issues Updated Guidance For Q2 And FY 2014

AMSTERDAM, May 12, 2014 /PRNewswire/ -- Core Laboratories N.V. (NYSE: "CLB US" and NYSE Euronext: "CLB NA") recorded April 2014 operating results below those of March 2014, the Company's second most profitable March ever, precipitating new second quarter and full year 2014 earnings per share (EPS) guidance.  The Company had used encouraging March results, following the weather affected results from February, and improving North American activity levels, in general, to set prior second quarter 2014 guidance and to maintain its prior full year EPS guidance.  Although Core continues to expect quarterly sequential improvements in all three segments, due to unexpected disappointing results in April, Core now projects second quarter 2014 EPS guidance in the $1.32 – 1.35 range with revenue ranging from $265,000,000 to $270,000,000, both exceeding last year's second quarter results.  Operating margins are expected to be 30% to 31%.  Free cash flow (FCF) is expected to be approximately $65,000,000, an all-time high for any second quarter in Company history.

Core Lab Logo

The lowered second quarter 2014 revenue and EPS guidance are primarily caused by North American clients that now project sampling and analyzing less than previously expected levels of reservoir fluids from established unconventional plays in the Marcellus, Bakken, Montney, Niabrara and Eagle Ford formations.  A reduction in the number and length of cores cut and analyzed from these reservoirs also is causing the decrease in the Company's expected revenue and EPS in the second quarter of 2014.  The core footage cut in all of these markets, which the Company meticulously tracks, indicates that it has not lost market share for targeted core analyses jobs.  Core projects the number of reservoir fluid and core samples from the Permian basin will continue to increase but will not offset declines from the aforementioned established plays.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,031.14 +43.63 0.26%
S&P 500 1,984.13 -1.41 -0.07%
NASDAQ 4,518.9020 -48.6960 -1.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs