Core Laboratories (CLB) shares are down more than 12% after the company cut its 2014 revenue and earnings guidance after an unexpectedly weak performance in April.
Core, which provides reservoir management services to the oil and gas industry, expects Q2 2014 EPS to be in the $1.32 – 1.35 range with revenue ranging from $265 million to $270 million.
Analysts were looking for Q2 EPS of $1.51 on revenue of $285 million.
Full year EPS is expected to range from $5.80 to $6.00 with revenue of approximately $1.1 billion. That’s below the consensus forecast for EPS of $6.20 and revenue of $1.2 billion.
The shares recently traded at $166.00 in a 52-week range of $133.02 – $221.00
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