Dril-Quip reports Q1 2022: revenue $83.1M, net loss $8.9M, orders improving

Innovex International, Inc.

2022-Q1 EPS reported -$0.26 revenue$83,137,000

Revenue $83.1M, up $5.2M sequentially; net loss $8.9M ($0.26 loss per share).
Adjusted EBITDA $3.2M (3.8% of revenue) vs $0.6M in Q4 2021.
New orders $66.5M incl. ~$17M in Brazil orders; expects 20% order growth for 2022.
Free cash flow negative $13.0M; capex $2.1M; repurchased $5.8M shares at $21.20 avg.
Full-year 2022 revenue expected to grow 10% vs 2021.

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