CLB

EX-99.1

2 clb-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

CORE LAB REPORTS FIRST QUARTER 2026 RESULTS:

•

REVENUE OF $121.8 MILLION, DOWN 12% SEQUENTIALLY AND FLAT YEAR-OVER-YEAR

• OPERATING INCOME OF $1.9 MILLION; EX-ITEMS, $6.6 MILLION, DOWN 58% SEQUENTIALLY AND 44% YEAR-OVER-YEAR

• GAAP LOSS PER SHARE OF $0.02; EPS EX-ITEMS OF $0.06, DOWN 72% SEQUENTIALLY AND 58% YEAR-OVER-YEAR

•

FREE CASH FLOW OF $0.5 MILLION

•

NET DEBT INCREASED BY $3.9 MILLION; LEVERAGE RATIO AT 1.20

• COMPANY REPURCHASED 51,781 SHARES OF COMMON STOCK, FOR $0.9 MILLION AGGREGATE PURCHASE PRICE

•

COMPANY ANNOUNCES Q2 2026 QUARTERLY DIVIDEND

HOUSTON (April 29, 2026)—Core Laboratories Inc. (NYSE: "CLB") ("Core," "Core Lab," or the "Company") reported first quarter 2026 revenue of $121,800,000. Core’s operating income was $1,900,000, with a loss per diluted share of $0.02, all in accordance with U.S. generally accepted accounting principles ("GAAP"). Operating income, ex-items, a non-GAAP financial measure, was $6,600,000, yielding operating margins of over 5% and earnings per diluted share (“EPS”), ex-items, of $0.06. A full reconciliation of non-GAAP financial measures is included in the attached financial tables.

Core’s CEO, Larry Bruno, stated, “First and foremost, our thoughts remain with our employees and their families across our Middle East operations during this period of heightened geopolitical instability. As we continue to prioritize the safety of our people, the conflict has impacted client activity, project timelines, and operations across the region, factors that materially affected Core Lab’s first quarter operating results. For Reservoir Description, and for the service part of Production Enhancement, operational disruptions in the Middle East were extensive, including: 1) client office closures and delayed progression of client projects, 2) suspension of field access for sample acquisition and wellsite services, and 3) halted maritime transportation of crude oil, natural gas, and derived products. In addition, completion product deliveries into the region for Production Enhancement were also delayed. Core Lab has persevered through previous conflicts in the Middle East, and I am fully confident that we will again. As we have in the past, the Company and its dedicated employees remain committed to servicing our long-standing clients throughout this vital region. The ongoing conflict in Russia-Ukraine and severe weather events across North America and Europe also disrupted client activity and operations, creating additional headwinds for the first quarter. Despite these near-term challenges, Core remains focused on delivering long-term shareholder value through disciplined execution and continued innovation, including the advancement and commercialization of next-generation technologies that have gained early client adoption across multiple regions.”

Reservoir Description

Reservoir Description operations are closely correlated with trends in international and offshore activity levels, with approximately 80% of revenue sourced from projects originating outside the United States. Revenue for Reservoir Description in the first quarter of 2026 was $81,900,000, down 11% sequentially and up slightly from last year. Operating income on a GAAP basis was $1,100,000. Operating income, ex-items, was $4,800,000, with operating margins of 6%. The first quarter of 2026 was negatively impacted by two primary factors: 1) the conflict in the Middle East, and 2) severe weather events across North America, and the Mediterranean region, which also disrupted client operations and the demand for laboratory services in the quarter. As global consumption has remained resilient throughout the conflict, Core anticipates a strong rebound in the global maritime transportation and trade of hydrocarbon cargoes, and the associated demand for the Company’s assay laboratory work.

Although client activities in and around the Middle East were negatively impacted by the ongoing geopolitical conflict, other regions across the globe continue to be active and growing. For example, during the first quarter of 2026, Core Lab supported multiple reservoir characterization programs for major operators on Alaska’s North Slope, focused on development planning and reserve calculations in complex, low-resistivity, low-contrast reservoir systems. These technically challenging North Slope operations require specialized expertise, beginning with the Company’s proprietary wellsite handling protocols. Core Lab’s wellsite procedures mitigate the risks of inaccurate reserve assessments and suboptimal development decisions. Immediately upon reaching the Company’s laboratory in Anchorage, Core’s proprietary NITRO℠ (Non-Invasive Technologies for Reservoir Optimization) workflow was applied to core samples that were evaluated through advanced CT scanning. This non-destructive technology allowed Core Lab to quickly assess core integrity and identify

8-K/A

0001958086false00019580862026-02-042026-02-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K/A

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 4, 2026

CORE LABORATORIES INC.

(Exact name of registrant as specified in its charter)

Delaware

001-41695

98-1164194

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

6316 Windfern Road

Houston, TX

77040

(Address of principal executive offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (713) 328-2673

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common Stock (par value $0.01)

CLB

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Explanatory Note

This Current Report on Form 8-K/A (this “Amended Report”) amends and supplements the Current Report on Form 8-K of Core Laboratories Inc. (the “Company”), originally furnished by the Company to the Securities and Exchange Commission (the “SEC”) on February 4, 2026 (the “Original Form 8-K”). The sole purpose for filing this Amended Report is to correct certain financial information contained in Exhibit 99.1 to the Original Form 8-K as described further below.

This Amended Report is presented as of the filing date of the Original Form 8-K and does not reflect events occurring after that date, such as the conflict in the Middle East, or modify or update any other disclosure contained in or furnished with the Original Form 8-K, except to reflect the revisions as described herein. Accordingly, this Amended Report should be read in conjunction with the Original Form 8-K.

The information in this Amended Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor otherwise subject to the liabilities under that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly stated by specific reference in such filing.

Item 2.02 Results of Operations and Financial Condition.

The Original Form 8-K included, as Exhibit 99.1 thereto, a copy of the Company’s press release that was issued on February 4, 2026 announcing the financial results of the Company for the quarter and year ended December 31, 2025 (the “Earnings Release”). Subsequent to the Company’s fourth quarter earnings call on February 5, 2026 and during the preparation of its audited consolidated financial statements to be included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, the Company completed its reconciliation of the income taxes payable and income taxes receivable accounts, analysis of certain deferred tax assets, and final analysis of 2024 tax returns filed in late December for certain foreign jurisdictions. In completing the reconciliation and corresponding controls, it was determined that estimated income tax expense for the quarter and year ended December 31, 2025 was understated by $4.2 million.

The increase to income tax expense is primarily associated with a decrease to deferred tax assets, a decrease to deferred tax liabilities, and an increase to deferred tax expense, and reflects a timing difference between the book gain and tax gain for insurance proceeds received in connection with the Company’s Aberdeen, U.K. facility and equipment that were damaged in a fire. As this adjustment relates to fiscal year 2025 financial results, the Company is revising its previously released financial statements in anticipation of the filing of its Annual Report on Form 10-K for the year ended December 31, 2025. The Form 10-K

8-K

0001958086false00019580862026-02-042026-02-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 4, 2026

CORE LABORATORIES INC.

(Exact name of registrant as specified in its charter)

Delaware

001-41695

98-1164194

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

6316 Windfern Road

Houston, TX

77040

(Address of principal executive offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (713) 328-2673 Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock (par value $0.01)

CLB

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On February 4, 2026, Core Laboratories Inc. issued a press release announcing its financial results for the fourth quarter of 2025 and year ending December 31, 2025. Item 7.01 Regulation FD Disclosure. On February 4, 2026, Core Laboratories Inc. issued a press release announcing a quarterly cash dividend of $0.01 per share of common stock for shareholders of record on February 16, 2026 and payable March 9, 2026. The full text of the press release is set forth in Exhibit 99.1 attached hereto. The information in this Report and the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly stated by specific reference in such filing. Item 9.01 Financial Statements and Exhibits.

(d)

Exhibits

99.1 Press release issued on February 4, 2026 * 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * This exhibit is intended to be furnished and shall not be deemed “filed” for purposes of the Exchange Act.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Core Laboratories Inc.

Dated: February 4, 2026

By

/s/ Christopher S. Hill

Christopher S. Hill

Chief Financial Officer