Core Laboratories Inc. (NYSE: CLB) reported financial results for the third quarter of 2026, with total revenue of $132.1 million. This figure represents a 6% increase compared to the previous quarter and a 2% decrease year-over-year.
For the quarter, the company reported GAAP operating income of $12.1 million and earnings per share (EPS) of $0.12. On an ex-items basis, operating income was $12.6 million and EPS was $0.16. Free cash flow for the period was $1.7 million.
Core Laboratories operates two primary segments: Reservoir Description and Production Enhancement. Reservoir Description revenue was $84.3 million, up 7% sequentially, while Production Enhancement revenue was $47.8 million, up 4% sequentially. The company noted that geopolitical conflicts in the Middle East and the Russia-Ukraine region continued to impact demand for certain services.
In terms of capital allocation, the company repurchased 87,873 shares of common stock during the quarter at an aggregate purchase price of approximately $1.1 million. As of September 30, 2026, the company's net debt was $93.4 million, and its leverage ratio was under 1.50.
Regarding dividends, the company announced a quarterly cash dividend of $0.01 per share of common stock. This dividend is payable on November 30, 2026, to shareholders of record on November 9, 2026.
Looking ahead, the company expects revenue for the fourth quarter of 2026 to remain relatively flat sequentially, reflecting continued disruptions in the Middle East and customary year-end seasonal moderation in U.S. land completion activity.
