Analysts polled by Capital IQ projected $0.47.
Operating revenue for the quarter ended March 31 was $589.3 million, down from $1.63 billion a year earlier.
Three of four analysts surveyed by Capital IQ forecast $921.3 million.
For full-year 2022, the energy services company said it continues to expect earnings of $1.87 to $1.97 per diluted share. Analysts polled by Capital IQ are looking for $2.27.
The company's shares fell more than 5% in recent Thursday premarket activity.
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