Core Laboratories N.V. revised earnings guidance for the first quarter of 2022. There have been two significant events impacting Core's financial results since the Company provided its initial guidance for the first quarter of 2022 on 2 February 2022: (1) the outbreak of the Omicron variant of COVID-19 was much more significant than initially predicted; and (2) the geopolitical conflict between Russia and Ukraine. Core's revised guidance for the first quarter of 2022 revenue ranges from $110,000,000 to $113,000,000.

Despite the events described above, which adversely impacted the financial performance of the Company for the first quarter of 2022, the Company maintained its commitment to fully reinstate employee salaries on 1 January 2022, consequently increasing operating expenses from previous quarters. The Company is now projecting operating margins to be approximately 5% to 6%, and Earnings Per Share ("EPS") to be between $0.05 to $0.08 for the first quarter of 2022. The Company's 2022 outlook remains positive and projects a multi-year international cycle to unfold.