Slide 1: Core Lab Reports First Quarter 2026 Results
FOR IMMEDIATE RELEASE CORE LAB REPORTS FIRST QUARTER 2026 RESULTS: • REVENUE OF $121.8 MILLION, DOWN 12% SEQUENTIALLY AND FLAT YEAR-OVER-YEAR • OPERATING INCOME OF $1.9 MILLION; EX-ITEMS, $6.6 MILLION, DOWN 58% SEQUENTIALLY AND 44% YEAR-OVER-YEAR • GAAP LOSS PER SHARE OF $0.02; EPS EX-ITEMS OF $0.06
Slide 2: Reservoir Description
Reservoir Description Reservoir Description operations are closely correlated with trends in international and offshore activity levels, with approximately 80% of revenue sourced from projects originating outside the United States. Revenue for Reservoir Description in the first quarter of 2026 was $
Slide 3: Production Enhancement: RF-5TF detonator and PackScan
proprietary diagnostic technologies and is actively pursuing expansion of these service offerings in international markets, such as North and West Africa and South America. In the fourth quarter of 2025, Core Lab advanced its Radio Frequency (“RF”) safe product portfolio with the commercial release
Slide 4: Share repurchases, net debt and dividend
In the first quarter of 2026, Core Lab repurchased 51,781 shares at an aggregate purchase price of approximately $900,000. As of March 31, 2026, Core’s net debt (defined as long-term debt less cash and cash equivalents) was $94,200,000, increasing by $3,900,000 during the quarter. Also, during the f
Slide 5: Middle East client activity impact and outlook
Recent changes in client activity levels across the Middle East are directly impacting Core’s operations. Client-driven project disruptions have led to delays in project execution, and logistical constraints. For Core Lab, the disruption of hydrocarbon trading routes extends beyond the Middle East r
Slide 6: Forward-looking statements and safe harbor
generally, made in reliance upon the safe harbor provisions of Federal securities law. The Company's outlook is subject to various important cautionary factors, including risks and uncertainties related to the oil and natural gas industry, business and general economic conditions, including inflatio
Slide 7: Condensed Consolidated Statements of Operations
CORE LABORATORIES INC. & SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Three Months Ended % Variance March 31, December 31, March 31, 2026 2025 2025 vs. Q4-25 vs. Q1-25 REVENUE $ 121,797 $ 138,255 $ 123,585 (11.9)% (1.4)% OPERATING EXP
Slide 8: Condensed Consolidated Balance Sheets
CORE LABORATORIES INC. & SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) % Variance March 31, December 31, ASSETS: 2026 2025 vs. Q4-25 Cash and cash equivalents $ 22,819 $ 22,702 0.5% Accounts receivable, net 108,277 113,528 (4.6)% Inventories 57,784 54,496 6.0% Other c
Slide 9: Condensed Consolidated Statements of Cash Flows
CORE LABORATORIES INC. & SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Three Months Ended March 31, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (753 ) $ 69 Adjustments to reconcile net income (loss) to net cash provided by operating a
Slide 10: Non-GAAP Information
Non-GAAP Information Management believes that the exclusion of certain income and expenses enables it to evaluate more effectively the Company's operations period-over-period and to identify operating trends that could otherwise be masked by the excluded Items. For this reason, management uses certa
Slide 11: Segment Information Return on Invested Capital
Diluted Earnings (Loss) Per Share Attributable to Core Laboratories Inc. Three Months Ended March 31, December 31, March 31, 2026 2025 2025 GAAP reported $ (0.02 ) $ 0.11 $ — Stock compensation (1) 0.06 — 0.05 Inventory and asset write-downs, lease termination, other exit costs and severance (2) 0.0
Slide 12: Free Cash Flow
Free Cash Flow Core uses the non-GAAP financial measure of free cash flow to evaluate its cash flows and results of operations. Free cash flow is defined as net cash provided by operating activities (which is the most directly comparable GAAP measure) less cash paid for capital expenditures - operat