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Jun 30, 2024
Dril-Quip Q2 2024 Earnings Report
Reported an increase in revenue and improvement in profitability, driven by strong performance in Subsea Products and Well Construction segments.
Key Takeaways
Dril-Quip reported revenue of $120.3 million, a 34.3% increase year-over-year. The company experienced a net loss of $1.8 million, an improvement compared to the previous quarter. Adjusted EBITDA was $16.5 million, and gross margin reached 30.8%.
Revenue increased by 34.3% year-over-year to $120.3 million.
Subsea Products orders booked were $54.1 million, but net bookings were $12.8 million after a customer cancellation.
Net loss improved to $1.8 million compared to a $20.0 million loss in the previous quarter.
Adjusted EBITDA increased to $16.5 million, with adjusted EBITDA margins expanding to 13.7%.
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
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