Loading...
•
Mar 31, 2024
Dril-Quip Q1 2024 Earnings Report
Dril-Quip's Q1 2024 financial performance reflected mixed results with increased revenue year-over-year but a net loss reported for the quarter.
Key Takeaways
Dril-Quip reported a 21.4% increase in revenue year-over-year, driven by the addition of Great North. However, the company experienced a net loss of $20.0 million, influenced by expenses related to the pending merger with Innovex.
Revenue increased 21.4% year-over-year to $110.3 million, driven by the addition of Great North, which contributed $25.1 million.
Net loss was $20.0 million, a decrease of $22.3 million year-over-year.
Gross margin increased to 28.9%, up 99 basis points year-over-year.
Adjusted EBITDA was $10.2 million, an increase of $1.3 million year-over-year.
Revenue by Segment
Forward Guidance
Due to the pending merger with Innovex, the Company has suspended providing earnings guidance updates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...