Innovex International, Inc. reports developments for a global energy-products business serving oil and natural gas operators across the well lifecycle. The company was established in 2024 following the merger of Dril-Quip, Inc. and Innovex Downhole Solutions, Inc., and its portfolio includes subsea, surface wellhead, well construction, well completion, production solutions, fishing and intervention products.
News for INVX centers on quarterly results, capital allocation, share repurchase activity, selling-stockholder offerings, product introductions, cross-selling across its platform and completed acquisitions such as Drilling Innovative Solutions. Updates also cover operations across North America, Latin America, Europe, the Middle East and Asia.
Dril-Quip, Inc. (NYSE: DRQ) announced its fourth quarter and full year 2022 earnings results will be released on February 27, 2023, after U.S. markets close. A conference call to discuss these results is scheduled for February 28, 2023, at 10:00 a.m. EST. This event will be accessible to all interested parties and may include forward-looking information. Investors can pre-register for the call to obtain the dial-in number and passcode, as well as participate in the live webcast.
Dril-Quip (NYSE: DRQ) reported Q3 2022 results, showing a revenue of $88.1 million, down $5.8 million from Q2, impacted by foreign exchange rates and supply chain delays. Net income was $15.2 million, a rise of $20.8 million due to a facility sale and lower costs. Adjusted EBITDA decreased to $7.0 million, while free cash flow was negative at $9.2 million. The company booked $75.0 million in new orders, netting $61.7 million after cancellations. The ESG rating improved to A. Full-year bookings are expected to grow 15% to 20%.
Dril-Quip, Inc. (NYSE: DRQ) is set to release its third quarter 2022 earnings on October 27, 2022, after market close. A fireside chat will follow on October 28, 2022, at 10:00 a.m. ET with CEO Jeff Bird and CFO Kyle McClure discussing recent financial performance and business outlook. The event is accessible via webcast and conference call, with additional details available on the company's website. Investors can pre-register to obtain participation details, and a replay will be available for one year.
Dril-Quip, Inc. (NYSE: DRQ) announced its participation in the 2022 Pareto Securities Energy Conference, taking place on September 14, 2022. John Mossop, Director of Energy Transition, will deliver a presentation, although it will not be webcast. Interested parties can access the presentation on Dril-Quip's website under the Investors section. Note that a prior press release mistakenly stated the presentation date as September 7, 2022.
Dril-Quip specializes in highly engineered equipment and innovative technologies for the energy sector.
Dril-Quip (NYSE: DRQ) announced its involvement in the 2022 Pareto Securities Energy Conference, where John Mossop, the Director of Energy Transition, will present on September 7, 2022. The conference will not be webcast, but a copy of the presentation will be available on the Company’s website in the Investors section. Dril-Quip specializes in developing and providing equipment and technologies for the energy industry, aiming to innovate and enhance energy solutions.
Dril-Quip, Inc. (NYSE: DRQ) will participate in the 2022 Barclays CEO Energy-Power Conference on September 7, 2022. CEO Jeff Bird will engage in a fireside chat starting at 1:15 p.m. ET, and the CFO Kyle McClure will conduct one-on-one meetings throughout the day. A live webcast of the discussion and presentation slides will be available on the company’s website, encouraging listeners to log on 15 minutes early for registration. A replay will be accessible post-event.
Dril-Quip (NYSE: DRQ) reported second quarter 2022 revenues of $94.0 million, up $10.8 million sequentially, driven by increased subsea equipment and downhole services. The company posted a net loss of $5.6 million or $0.16 per share, an improvement from the prior quarter. Adjusted EBITDA rose to $9.3 million, reflecting a 9.9% margin. New orders totaled $49.6 million, offset by cancellations. Share repurchases reached $3.8 million during the quarter. The company maintains a revenue growth target of 10% for 2022 compared to 2021.
Dril-Quip (NYSE: DRQ) will release its Q2 2022 earnings on July 28, 2022, after market close. A fireside chat with Barclays Capital's J. David Anderson will take place on July 29, 2022, at 10:00 a.m. ET, focusing on Dril-Quip's recent financial performance and business outlook. Stakeholders can listen to the event via webcast. The earnings release and webcast link will be accessible on Dril-Quip's website. The company specializes in engineered equipment and technologies for the energy sector.
Dril-Quip, Inc. is auctioning equipment from its recently closed forging, machining, and metallurgical lab on June 28, 2022. This decision arises from a strategic shift as the facility was deemed unnecessary for its evolving manufacturing model. The auction will feature a wide range of assets, including forging presses and CNC machines, overseen by Harris Auctions. Inspections are available prior to the auction, and the move reflects Dril-Quip's commitment to optimizing operations in the changing oil and gas market.
Dril-Quip (NYSE: DRQ) has established decarbonization targets aligned with the Paris Agreement, aiming for more than a 50% reduction in Scope 1 and Scope 2 emissions by 2030. This initiative includes switching to renewable electricity, rightsizing facilities, and investing in emissions-reducing infrastructure. Approximately 75% of Dril-Quip's Scope 3 emissions stem from purchased machinery and leased equipment. The company collaborates with suppliers and customers to achieve comprehensive emissions reductions across its value chain.