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CLB - Core Laboratories: The Valuation Is Untenable
Core Laboratories N.V.
Source: Core Labs
Core Laboratories (CLB) reports earnings July 24th. Analysts expect revenue of $173.62 million and EPS of $0.46. The revenue estimate implies 4% growth sequentially. Investors should focus on the following key items.
North America E&P
North America land drilling had been white-hot over the past few years. Then, all of a sudden, it wasn't. The sector faced headwinds in the second half of 2018. Customers' budget constraints led to declining pricing power. Those headwinds bled into Q1 2019 as well. The turf wars claimed Weatherford International (WFTIQ) as a casualty. Rising