Why Core Laboratories Stock Is Slumping Today
Shares of Core Laboratories (NYSE: CLB) had declined by as much as 6.3% by 10:45 a.m. EDT on Thursday. Weighing on the oil-field services stock was its third-quarter report.
Core Labs reported $118 million of revenue for the third quarter, which was well below the low end of its guidance range of $122 million to $126 million. Because of that, earnings also missed the mark. The company posted $13 million of operating income, which also fell short of its $14 million to $15 million guidance range. Likewise, earnings per share of $0.18 came in below its $0.19 to $0.21 forecast.
Image source: Getty Images.
Source Fool.com
