Dril-Quip, Inc. reported second-quarter results with revenue of $80.8 million. The company reported a net loss of $19.1 million, or $0.54 per share, and an adjusted EBITDA of $2.6 million. They generated positive free cash flow of $8.2 million and booked $50.4 million in new product orders.
Generated revenue of $80.8 million for the second quarter of 2021.
Reported second quarter net loss of $19.1 million, or $0.54 per share, an improvement of $15.3 million, or $0.43 per share, from the first quarter of 2021.
Second quarter net cash provided by operating activities of $11.3 million and free cash flow of $8.2 million, or 10.2% of revenue.
Booked $50.4 million of new product orders during the second quarter of 2021.
Dril-Quip is optimistic about the second half of 2021 leading into 2022, expecting increased offshore activity and potential benefits from their wellhead supply collaboration.
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