Dril-Quip slips 8% post Q2 results [Seeking Alpha]
Dril-Quip, Inc. (DRQ)
Last dril-quip, inc. earnings: 2/27 05:36 pm
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US:NYSE Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=100535&p=irol-irhome
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Source: Seeking Alpha
Dril-Quip slips 8% post Q2 resultsDril-Quip (DRQ-8.4%) reportsQ2 sales decrease 25.8% to $94.8M, amid challenged offshore environment; the company expects near-term oil prices and offshore rig environment uncertain through 2018.Adjusted EBITDA was $1.6M, down from $19.33M last year due to decrease in revenue and current cost base.Cash balance stood at $$493.4MFor rest of FY18, DRQ expects revenue ~$80M-90M per quarter as a result of book and ship orders moving into 2019, with annual sales of $350-370MThe company is targeting $40M-50M of annualized cost reductions by Q4 2019.Authorizes up to $100M in share repurchases with no set expiration date.Previously:Dril-Quip revenue in-line (July 26)Click to subscribe to real-time analytics on DRQNow read:Piper Jaffray dips as Q2 misses amid cost-cutting moves »Subscribefor full text news in your inbox
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DRQ
News
- Why Is DrilQuip (DRQ) Down 2.2% Since Last Earnings Report? [Yahoo! Finance]Yahoo! Finance
- SHAREHOLDER UPDATE: Halper Sadeh LLC Investigates DRQ, FUSN, LABP, FXNCGlobeNewswire
- Dril-Quip Makes Fantastic Move By Merging With Innovex Downhole Solutions [Seeking Alpha]Seeking Alpha
- DRIL-QUIP INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Merger of Dril-Quip, Inc. - DRQBusiness Wire
- SHAREHOLDER UPDATE: Halper Sadeh LLC Investigates FUSN, DRQ, KAMN, TASTGlobeNewswire
DRQ
Earnings
- 2/26/24 - Miss
DRQ
Sec Filings
- 4/23/24 - Form SD
- 4/22/24 - Form DEFA14A
- 4/16/24 - Form 425
- DRQ's page on the SEC website