Earnings MissThere were also some XPRO-specific factors that contributed to the 3Q miss and 4Q guide to ~10% below consensus, with Congo plant charges in particular leading to much confusion among investors.
Investor ConfidenceInvestors appear to be losing patience with XPRO after its 3Q EBITDA miss, FY24 EBITDA guide-down, and more subdued outlook for next year.
Revenue TargetWhite space concerns may limit the ability to drive similar pricing improvements in 2025, which will likely lead to the company falling short of reaching its $2bn mid-term revenue target on a run-rate basis.