Expro Group (XPRO) Downgraded to Sell, Here’s Why

Core Viewpoint - Expro Group Holdings N.V. (NYSE:XPRO) has been downgraded to Sell from Hold by Freedom Capital analyst Sergey Pigarev, with a price target remaining at $16, primarily due to concerns over fiscal Q4 2025 results and expectations for Q1 2026 [1][2]. Financial Performance - For Q4 2025, Expro Group reported a revenue decline of 12.53% year-over-year, totaling $382.13 million, which missed estimates by $31.34 million [3]. - The earnings per share (EPS) for the quarter was $0.21, falling short of estimates by $0.03 [3]. - The annual revenue for the company was $1.6 billion, which was at the lower end of management's previous guidance [3]. - Management anticipates that fiscal 2026 revenue will remain flat year-over-year, with expectations of a seasonal dip in activity and margins during Q1 2026 [3]. Market Context - Expro Group provides energy services to oil and gas companies in both onshore and offshore environments across approximately 60 countries [4]. - The analyst's cautious sentiment is attributed to a decline in global drilling and falling oil prices, which are expected to negatively impact the company's results in Q1 2026 [2].