Innovex International Inc Stock Price, News & Analysis

Innovex International (NYSE: INVX) has announced the sale of its Eldridge campus facility in Houston for $95.0 million, expected to close in Q3 2025. The company will maintain a short-term lease to complete facility consolidation initiatives. This sale will reduce Houston Subsea operations footprint by 82% and represents 9% of Innovex's market cap.

In a Q1 2025 business update, Innovex projects total revenue of approximately $240 million, below previous guidance of $245-255 million, citing significant revenue weakness in Mexico and US Offshore operations. Despite lower revenue, the company expects Adjusted EBITDA for Q1 2025 to be between $44-46 million. The company will release detailed Q1 2025 earnings results on May 6, 2025.

Innovex International has successfully installed its first-ever VXTe subsea tree on the Ewing Bank 953 well, operated by Walter Oil & Gas in the Gulf of Mexico. This innovative 15K subsea production system technology represents a significant advancement in offshore production efficiency.

The VXTe technology eliminates the need for multiple trips for tubing hanger and XT orientation, reducing operational time by up to 7 days compared to conventional vertical tree installations. The system also removes the requirement for tubing head spool and electronic orientation devices, leading to cost savings and reduced complexity.

The installation, marking Innovex's first 15K subsea vertical tree deployment, was completed through collaboration with Walter Oil & Gas, demonstrating the potential for more efficient subsea solutions in offshore oil and gas production.

Innovex International (NYSE: INVX) reported strong Q4 2024 results with revenue of $251 million, up 65% quarter-over-quarter. The company achieved $32 million in net income with a 13% margin and $49 million in Adjusted EBITDA with a 20% margin.

Key highlights include fully realizing $30 million in merger cost synergies, acquiring Downhole Well Solutions and SCF Machining Corp, and announcing a $100 million share buyback program. The company maintained a strong balance sheet with $73 million in cash and $35 million in total debt.

For Q1 2025, Innovex projects revenue between $245-255 million and Adjusted EBITDA of $45-50 million, expecting flat rig count in most markets with weakness in Mexico and US Offshore markets.

Innovex International (NYSE: INVX) has announced its upcoming fourth quarter and full year 2024 earnings release, scheduled for February 25, 2025, after U.S. market close. The company will host a conference call and webcast to discuss the financial results on February 26, 2025, at 10:00 a.m. EDT / 9:00 a.m. CDT.

Interested parties can access the call via U.S. Toll-Free (800) 715-9871 or International +1 (646) 307-1963 using Conference ID 1774704. An audio replay will be available until March 5, 2025, accessible by calling (800) 770-2030 or +1 (609) 800-9909 with playback ID 1774704. A webcast replay will also be archived on the company's website.

Innovex International (NYSE: INVX) has announced signing a strategic Frame Agreement with SLB OneSubsea for the supply of subsea wellhead systems. The agreement creates a standard framework for enhanced collaboration, aimed at accelerating the development of future business opportunities and strengthening the existing relationship between OneSubsea and Dril-Quip (now Innovex).

According to CEO Adam Anderson, this strategic partnership demonstrates Innovex's commitment to enhancing their product offerings and will enable faster delivery of integrated solutions to address the global energy sector's evolving needs.

Innovex International (NYSE: INVX) has completed the acquisition of the remaining equity ownership of Downhole Well Solutions (DWS), following its initial minority investment in May 2023. Founded in 2019, DWS specializes in proprietary drilling optimization and friction reduction tools for US Land markets. The acquisition enhances Innovex's product portfolio and aims to expand DWS technologies both domestically and internationally. The merger aligns with Innovex's 'No Barriers' culture and is expected to deliver growth, cash flow, and returns for shareholders.

Innovex International (NYSE:INVX) reported Q3 2024 financial results following its merger with Dril-Quip. Key highlights include revenue of $152 million (up 17% QoQ), net income of $83 million (up 766% QoQ), and diluted EPS of $1.99. The company achieved Adjusted EBITDA of $27 million with an 18% margin and generated Free Cash Flow of $20 million. The quarter included a $93 million bargain purchase gain from the Dril-Quip merger. Innovex has already achieved 100% of its year-one synergy target of $15 million in annualized savings. For Q4 2024, the company expects revenue of $220-230 million and Adjusted EBITDA of $35-40 million.

Innovex International (NYSE:INVX) announced the release of its third quarter 2024 earnings results on November 7, 2024, after the close of U.S. financial markets. A conference call and webcast to discuss the financial results will be held on November 8, 2024, at 10:00 a.m. EDT / 9:00 a.m. CDT. The presentation is open to all interested parties.