Drilling Tools International Corporation Stock Price, News & Analysis

- Revenue: $42.9 million (up 16% YoY and 7.6% QoQ) - Tool Rental revenue: $34.5 million - Product Sales revenue: $8.3 million - Net Loss: $1.7 million - Adjusted EBITDA: $10.8 million (up 18% YoY)

The company updated its 2025 guidance due to market uncertainty: - Revenue: $145-165 million - Adjusted EBITDA: $32-42 million - Adjusted Free Cash Flow: $14-19 million

DTI implemented a cost-cutting program targeting $6 million in savings for 2025 to address potential market disruptions from tariffs, recession fears, and OPEC+ production increases.

Drilling Tools International Corp. (NASDAQ: DTI), a global oilfield services company specializing in drilling tools and solutions, has scheduled its 2025 first quarter earnings release and conference call for May 14, 2025, at 10:00 a.m. Eastern Time.

The company will host a live conference call accessible via phone (dial-in: 1-201-389-0869) or webcast at https://investors.drillingtools.com/news-events/events. A replay will be available through May 21, 2025, using passcode 13753220#, and the webcast archive will be accessible for 90 days.

DTI, headquartered in Houston, Texas, operates from 16 service centers across North America and 11 international centers in EMEA and APAC regions, providing rental-focused tools for onshore and offshore drilling operations.

Drilling Tools International Corp. (NASDAQ: DTI) has reported its financial results for 2024, with total consolidated revenue of $154.4 million. The company's Tool Rental revenue reached $117.9 million, while Product Sales revenue was $36.5 million.

Key financial metrics for 2024 include:

• Income from Operations: $13.4 million
• Net Income: $3.0 million
• Adjusted Net Income: $10.1 million
• Diluted EPS: $0.09
• Adjusted EBITDA: $40.1 million
• Adjusted Free Cash Flow: $17.2 million

In Q4 2024, DTI generated total revenue of $39.8 million but recorded a net loss of $1.3 million. The company maintains $6.2 million in cash and cash equivalents, with net debt of $47.6 million. Despite challenging market conditions, DTI expects significant international revenue growth in 2025, supported by recent acquisitions including Superior Drilling Products, Deep Casing Tools, European Drilling Projects, and Titan Tools Services.

Drilling Tools International Corp. (NASDAQ: DTI), a global oilfield services company specializing in drilling tools and solutions, has announced its participation in three major investor conferences in March 2025:

• 5th Annual Thrive Energy Conference (March 5-6) in Houston, featuring CEO Wayne Prejean in a panel discussion
• 37th Annual Roth Conference (March 16-18) in Dana Point, California, including Prejean's participation in the Industrial Pivot Panel
• Piper Sandler 25th Annual Energy Conference (March 17-19) in Las Vegas

DTI, established in 1984, operates from 16 service centers across North America and 11 international centers in EMEA and APAC regions. The company specializes in manufacturing and renting downhole drilling tools for horizontal and directional drilling operations.

Drilling Tools International Corp. (NASDAQ: DTI), a global oilfield services company, has updated its 2024 financial outlook with positive projections. The company expects 2024 revenue to be at the high-end of previous guidance, Adjusted EBITDA near the midpoint, Adjusted Net Income above the high-end, and Adjusted Free Cash Flow to more than double compared to the prior year.

Despite a challenging demand environment, CEO Wayne Prejean expressed satisfaction with the company's strong Q4 execution and successful integration of recent acquisitions. DTI anticipates building upon its 2024 results despite industry expectations of a flat market environment this year. The company will report its Q4 and full-year 2024 results in a conference call scheduled for March 14, 2025.

Drilling Tools International Corp. (NASDAQ: DTI) has completed its acquisition of Titan Tools Services , a UK-based downhole tool rental company, on January 2, 2025. The acquisition, previously announced on October 31, 2024, strengthens DTI's presence in the North Sea, European, and African markets.

Titan, established in 2009 and based in Aberdeen, Scotland, specializes in renting, servicing, and manufacturing advanced drilling equipment for the oil, gas, and geothermal industries. The integration is expected to enhance DTI's technological capabilities and expand its geographical footprint.

Key benefits include expanded market presence, enhanced downhole drilling tool capabilities, access to Titan's materials and tool design expertise, strengthened customer relationships, and accelerated market adoption for innovative tools like the Drill-N-Ream® and Fixedblade® stabilizer. The integration process will begin immediately, focusing on business continuity and leveraging synergies between both companies.

Drilling Tools International Corp. (DTI) reported its Q3 2024 results with total revenue of $40.1 million, comprising $28.1 million from Tool Rental and $12.0 million from Product Sales. The company posted Operating Income of $4.3 million and Net Income of $867,000. Q3 Adjusted EBITDA reached $11.1 million with Adjusted Free Cash Flow of $7.8 million.

Due to softer market conditions, DTI updated its 2024 outlook, projecting revenue between $145-155 million, Adjusted EBITDA of $38-43 million, and Adjusted Free Cash Flow of $18-21 million. The company maintains $12 million in cash with net debt of $32.1 million as of September 30, 2024.

Drilling Tools International Corp. (NASDAQ: DTI) has signed a definitive agreement to acquire Titan Tools Services , a UK-based downhole tool rental company, for an undisclosed sum. The acquisition aims to enhance DTI's presence in the North Sea, European and African markets while expanding its product offerings. The deal is expected to close in Q1 2025, subject to regulatory approvals.

The merger will combine DTI's expertise in downhole drilling tools with Titan's regional presence, enabling broader distribution of products like Drill-N-Ream® and Fixedblade® stabilizer. DTI operates from 16 service centers across North America and 11 international locations in EMEA and APAC regions.