---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-020311"
form_type: "8-K"
ticker: "INVX"
cik: "0001042893"
company_name: "Innovex International, Inc."
filed_at: "2022-10-27T23:59:59+00:00"
generated_at: "2026-06-22T23:16:54.210254+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Dril-Quip Q3 revenue $88.1M, net income $15.2M on forge sale; adj EBITDA $7.0M

## Summary
- Revenue $88.1M, down $5.8M vs Q2; net income $15.2M ($0.45 EPS) including $17.3M gain on Houston forge sale.
- Adjusted EBITDA $7.0M (8.0% of revenue), down from $9.3M in Q2; free cash flow negative $9.2M.
- Gross new orders $75.0M; net bookings $61.7M after $13.3M cancellations; full-year bookings growth revised to 15-20%.
- Repurchased $11.1M shares in Q3; $103M remaining authorization; cash $315.6M.
- Upgraded MSCI ESG rating to 'A'; footprint rationalization on track with $20-30M expected from remaining sales.

## SEC filing metadata
- accession: 0000950170-22-020311
- form_type: 8-K
- ticker: INVX
- cik: 0001042893
- company_name: Innovex International, Inc.
- filed_at: 2022-10-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1042893/000095017022020311/0000950170-22-020311-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1042893/000095017022020311/drq-20221027.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-020311
- JSON: https://secwatch.observer/filing/0000950170-22-020311.json
- Plain text: https://secwatch.observer/filing/0000950170-22-020311.txt

## Key facts
- Earnings Releases
  Innovex International, Inc. reported the third quarter of 2022 results: revenue $88.1 million, net income $15.2 million, EPS $0.45 earnings per share. Guidance lowered.
  - Period: the third quarter of 2022
  - Revenue: $88.1 million
  - Net income: $15.2 million
  - EPS: $0.45 earnings per share
  - Guidance: lowered
  - Result: reported results
  source text: Dril-Quip, Inc. (NYSE: DRQ), (the “Company” or “Dril-Quip”) today reported operational and financial results for the third quarter of 2022. Results for the third quarter of 2022 included: • Revenue of $88.1 million for the third quarter of 2022, a decrease of $5.8 million from the second quarter of 2022 driven by unfavorable foreign exchange rate impacts, supply chain delays in downhole tools and reduced leasing revenues in subsea service; • Net income of $15.2 million, or $0.45 earnings per share, an increase of $20.8 million, or $0.61 per share compared to the second quarter of 2022, due to the gain on sale of the Houston forge facility, lower income taxes, and lower restructuring costs in the period;
  evidence_url: https://www.sec.gov/Archives/edgar/data/1042893/000095017022020311/0000950170-22-020311-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.