Dril-Quip Q2 revenue $94M, net loss $5.6M; reaffirms 10% full-year growth target

Innovex International, Inc.

2022-Q2 EPS reported -$0.42 revenue$177,115,000

Revenue $94.0M, up 13% sequentially; net loss $5.6M ($0.16/sh) vs. Q1 loss $9.0M.
Adjusted EBITDA $9.3M (9.9% margin), up from $3.2M in Q1; free cash flow negative $10.6M.
Booked $49.6M net new orders; repurchased $3.8M shares at avg $24.49/share.
Expects real estate sales to close in Q3 with combined net proceeds $40-50M; GHG target 50% reduction by 2030.
Reaffirms full-year 2022 revenue growth of ~10% vs 2021.

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