Street Calls of the Week
HOUSTON - Core Laboratories (NYSE:CLB), a $581 million market cap company, announced Tuesday the acquisition of Brazil-based integrated geological services company Solintec, strengthening its position in the Brazilian oil and gas market. According to InvestingPro analysis, Core Laboratories is currently trading below its Fair Value, suggesting potential upside opportunity.
Solintec has provided upstream geological services to national and international companies operating in Brazil for more than three decades. The company’s laboratory facilities enable in-country mineralogic and sedimentary analysis, eliminating the need to export samples abroad.
The two companies have been collaborating through a technical services arrangement since 2022. This acquisition will allow Core Laboratories to offer a more comprehensive suite of reservoir laboratory services in Brazil.
"This transaction is another example of recent investments Core continues to make in key markets which are targeted at growth," said Larry Bruno, CEO of Core Laboratories, in the press release statement. "The acquisition of Solintec will strengthen our local presence and expand the range of high-value services offered locally to clients."
The company noted that Brazil is emerging as a leading non-OPEC producer with significant reserves both onshore and offshore.
Core Laboratories, which provides reservoir description and production enhancement services, has over 70 offices in more than 50 countries. Solintec is described as a leading laboratory for integrated geological services in Brazil with ISO certifications and certified local content of 100%.
Financial terms of the acquisition were not disclosed in the announcement.
In other recent news, Core Laboratories reported its Q2 2025 earnings, exceeding analyst expectations. The company achieved an earnings per share (EPS) of $0.22, surpassing the projected $0.18. Additionally, Core Laboratories reported revenue of $130.2 million, which was above the anticipated $128 million. These results highlight the company’s better-than-expected performance in the recent quarter. The earnings release was followed by a notable reaction in the market, although stock price movements are not the focus here. These developments reflect the latest financial achievements of Core Laboratories. Analysts and investors alike are closely monitoring these updates as they assess the company’s financial health.
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