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), a global oilfield services company, announced its participation in several investor conferences in Q2 2024. CEO Wayne Prejean will host one-on-one meetings at the EF Hutton Annual Global Conference in New York City on May 15. On May 29, Prejean will join a CEO panel at the Louisiana Energy Conference in New Orleans and host investor meetings with CFO David Johnson. DTI will also present at the Sidoti Virtual Small Cap Conference on June 12-13. Presentations and meeting details are available on DTI's Investor Relations website.
Drilling Tools International Corp. (NASDAQ: DTI) reported $37 million in total consolidated revenue for Q1 2024. Tool Rental net revenue was $30 million, Product Sales net revenue was $7 million. Operating income was $5.1 million with Adjusted Net Income of $3.8 million. Adjusted EBITDA was $10.9 million, and Adjusted Free Cash Flow was $4.7 million. The company's CEO reaffirmed the 2024 outlook and highlighted recent acquisitions and financial standing.
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