Welcome to our dedicated page for Drilling Tools International Corporation news (Ticker: DTI), a resource for investors and traders seeking the latest updates and insights on Drilling Tools International Corporation stock.
Drilling Tools International Corporation (NASDAQ: DTI) is a Houston, Texas based oilfield services company that designs, engineers, manufactures and rents downhole drilling tools used in onshore and offshore horizontal and directional drilling of oil and natural gas wells. This news page aggregates company-issued press releases and other coverage so readers can follow developments affecting DTI’s operations and stock.
DTI regularly reports quarterly and annual financial results, including revenue from tool rental and product sales, non-GAAP metrics such as Adjusted EBITDA and Adjusted Free Cash Flow, and commentary from management on market conditions and capital allocation. Earnings releases are typically accompanied by conference call details and webcast information, which are announced in separate news items.
In addition to financial updates, DTI’s news flow includes information on corporate governance and leadership. For example, the company has reported on the passing of its Chairman of the Board, Thomas O. Hicks, and the appointment of President and Chief Executive Officer Wayne Prejean as interim Chairman, as well as planned changes in Board composition. The company also issues announcements about participation in investor conferences and panel discussions, providing insight into its engagement with the investment community.
Investors and industry observers can use this page to monitor how DTI responds to changes in oil and gas activity, manages its rental-focused tool business and pursues acquisition and growth strategies described in its public communications. For a fuller picture, readers may wish to review related SEC filings and investor presentations referenced in the company’s news releases.
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.
Drilling Tools International Corp. (NASDAQ: DTI) has scheduled its 2024 third quarter earnings conference call for Thursday, November 14, 2024, at 10:00 a.m. Eastern Time. The company will release its financial results before the call. Investors can access the call by dialing 1-201-389-0869 or via webcast at the investor relations website. A replay will be available through November 21, 2024. DTI is a Houston-based oilfield services company specializing in manufacturing and renting downhole drilling tools, operating from 16 North American centers and 11 international locations across EMEA and APAC regions.
Drilling Tools International Corp. (NASDAQ: DTI) has completed the acquisition of European Drilling Projects (EDP), a global provider of next-generation stabilizers, specialty reamers, and wellbore optimization technology. This acquisition aligns with DTI's international growth strategy and commitment to technological differentiation. EDP, founded in 2004, brings additional cutting-edge drilling tool solutions to DTI's technology portfolio, complementing their existing Drill-N-Ream® technology.
The integration of EDP's expertise enhances DTI's competitive edge and reinforces its position as a leader in providing innovative drilling solutions to the global oil and gas industry. EDP's Eastern Hemisphere footprint and established market penetration further complement DTI's global expansion strategies. The acquisition includes EDP's innovative technology, intellectual property, and key personnel, enabling DTI to offer premium, value-added tools in a market segment typically characterized by commoditization.
Drilling Tools International Corp. (NASDAQ: DTI), a global oilfield services company, has announced its participation in the 2024 Barclays CEO Energy-Power Conference from September 3rd to 5th in New York City. DTI will conduct investor meetings and make its investor presentation accessible on the company's website.
DTI specializes in designing, engineering, manufacturing, and renting tools for onshore and offshore drilling operations. Founded in 1984, the company now operates from 16 service centers across North America and 10 international centers in EMEA and APAC regions. DTI's focus is on downhole drilling tools used in horizontal and directional drilling of oil and natural gas wells.
Investors and interested parties can access DTI's presentation at https://investors.drillingtools.com/news-events/presentations. For more information, contact DTI@dennardlascar.com.
Drilling Tools International Corp. (NASDAQ: DTI), a global oilfield services company, announced its participation in the 2024 EnerCom Denver Energy Conference from August 19-21, 2024. DTI will present on August 20th at 10:30 a.m. EDT, with a live webcast available. The company will also host one-on-one meetings with investors during the conference.
DTI's investor presentation will be accessible on their website, and a replay of the webcast will be archived post-event. Based in Houston, Texas, DTI specializes in manufacturing and renting downhole drilling tools for horizontal and directional drilling of oil and natural gas wells. The company operates from 16 service centers across North America and 10 international centers in the EMEA and APAC regions.
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