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Dril-Quip, Inc. - DRQ STOCK NEWS

Welcome to our dedicated news page for Dril-Quip (Ticker: DRQ), a resource for investors and traders seeking the latest updates and insights on Dril-Quip.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Dril-Quip's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Dril-Quip's position in the market.

News
Dril-Quip and Innovex to Combine Creating Unique Energy Industrial Platform
Rhea-AI Summary
Dril-Quip, Inc. (DRQ) and Innovex Downhole Solutions, Inc. announce a merger in an all-stock transaction to create a unique energy industrial platform. The combined company will have a diverse product portfolio, strong financial profile, and is expected to be immediately accretive to earnings and free cash flow. The merger aims to drive value throughout industry cycles, with estimated cost synergies of $30 million per year and a pro forma net cash position of $99 million by year-end 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.93%
Tags
none
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News
Dril-Quip, Inc. Announces Fourth Quarter and Full Year 2023 Results
Rhea-AI Summary
Dril-Quip, Inc. reports strong financial performance with double-digit revenue growth, increased cash flow, and positive operational results in Q4 2023. The company secures significant contracts, achieves growth in revenue and net bookings, and provides a positive outlook for fiscal 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
10.22%
Tags
earnings
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News
DRIL-QUIP Secures Key Role in Woodside Trion Development Offshore Mexico with BigBore(TM) IIe Subsea Wellhead Systems
Rhea-AI Summary
Dril-Quip, Inc. (NYSE:DRQ) has been selected to provide subsea wellhead systems for the Woodside Trion development offshore Mexico. The project comprises 24 wells over two phases, utilizing Dril-Quip's BigBore™ IIe Subsea Wellheads with advanced sealing technology and high lockdown capacity. This partnership highlights Dril-Quip's role in Mexico's first deepwater oil production.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.05%
Tags
none
News
Dril-Quip, Inc. Schedules Fourth Quarter and Full Year 2023 Earnings Release and Conference Call
Rhea-AI Summary
Dril-Quip, Inc. (NYSE:DRQ) will release its Q4 and full year 2023 earnings on February 26, 2024. A conference call and webcast to discuss the results will be held on February 27, 2024. Details for accessing the call and webcast are provided in the press release.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.8%
Tags
earnings
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News
DRIL-QUIP will be a Supplier for Petrobras Pre-Salt Development Wells Project
Rhea-AI Summary
Dril-Quip, Inc. (NYSE:DRQ) announces selection as supplier of drill-through systems for Petrobras' pre-salt development wells. The groundbreaking Big Bore™ II 'e' wellhead contract will revolutionize offshore drilling practices, enabling substantial rig time savings of up to 6 days per well in ultra-deep waters, lowering carbon emissions, and providing significant cost savings. This pioneering technology achieves impressive gains by eliminating the requirement for additional lockdown devices, employing state-of-the-art seal assemblies, and streamlining drilling procedures while maintaining the highest standards of safety and dependability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.09%
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none
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News
Dril-Quip Achieves Milestone with Installation of its First XPAK-De 18" X 22" Expandable Liner Hanger for Petrobras
Rhea-AI Summary
Dril-Quip, Inc. (NYSE:DRQ) announced the successful installation of its first 18' x 22' XPAK-De Expandable Liner Hanger in a Santos Basin deepwater pre-salt exploratory well for the Sagitario Location, operated by Petrobras (60%) in partnership with Repsol Sinopec Brasil (20%) and Shell (20%). This achievement is a result of years of dedicated research, development, and testing by Dril-Quip's team, aimed at creating a product capable of withstanding the harsh conditions of deepwater environments. The technology can accelerate the well construction process, lower operating costs, and reduce risks associated with deepwater drilling operations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.67%
Tags
none
News
Dril-quip, Inc. Announces Third Quarter 2023 Results
Rhea-AI Summary
Dril-Quip reports strong Q3 2023 results with a 31% increase in revenue and $26.8 million cash from operations. The acquisition of Great North contributed $15.5 million to revenue. However, capacity constraints in the offshore rig market are causing delays in product orders and service deliveries, impacting bookings and profitability. The company remains optimistic about the offshore upcycle and plans to update investors on its 2024 outlook in February 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.32%
Tags
earnings
-
News
Dril-Quip, Inc. Schedules Third Quarter 2023 Earnings Release and Conference Call
Rhea-AI Summary
Dril-Quip, Inc. to release third quarter 2023 earnings results on October 26th, 2023
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.2%
Tags
earnings
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News
Dril-Quip, Inc. To Participate in the Barclays CEO Energy-Power Conference
Rhea-AI Summary
Dril-Quip, Inc. announces participation in fireside chat at Barclays CEO Energy-Power Conference on September 7. Live webcast and investor presentation available on company's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.8%
Tags
conferences
News
Dril-Quip, Inc. Announces Second Quarter 2023 Results
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.75%
Tags
earnings
Stock DRQ logo
Dril-Quip, Inc.

NYSE:DRQ

DRQ Rankings

#2736 Ranked by Market Cap
#2575 Ranked by Stock Gains
N/A Ranked by Dividends

DRQ Stock Data

746.57M
33.76M
1.79%
104.46%
4.49%
Oil and Gas Field Machinery and Equipment Manufacturing
Manufacturing
Link
US
Houston

About DRQ

dril-quip, inc. is one of the world's leading manufacturers of precision-engineered offshore drilling and production equipment that is well suited for use in deepwater, harsh environments and severe service applications. the company designs and manufactures subsea, surface and offshore rig equipment for use by oil and gas companies in offshore areas throughout the world. dril-quip also provides installation and reconditioning services, as well as rental running tools for use with its products.