Dril-Quip Q4 revenue $126.3M (+31% YoY); FY 2024 EBITDA guidance $65-75M

Innovex International, Inc.

2023-FY EPS reported $0.02 revenue$424,060,000

Q4 revenue $126.3M, up 31% YoY; net income $1.8M vs net loss $0.3M a year ago.
Q4 adjusted EBITDA $16.5M (+61% YoY); net bookings $122.7M, +$76.2M sequential.
Full year 2023 revenue $424.1M (+17% YoY); adjusted EBITDA $46.5M (+56% YoY).
FY 2024 outlook: revenue growth 15-20%, adjusted EBITDA $65-75M, subsea product bookings $200-225M.
Secured ~$40M subsea production system in Australia; 3-year CNOOC deepwater wellhead contract.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Innovex International, Inc. reported fourth quarter 2023 results: revenue $126.3 million, net income $1.8 million.

Period: fourth quarter 2023
Revenue: $126.3 million
Net income: $1.8 million
Result: reported results

Exact text from the filing

Revenue of $126.3 million increased 8% sequentially and 31% year-over-year • Net Bookings of $122.7 million increased $76.2 million sequentially and $24.4 million year-over-year • Net Income of $1.8 million increased $8.9 million sequentially and $2.1 million year-over-year

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Innovex International, Inc. reported full year 2023 results: revenue $424.1 million.

Period: full year 2023
Revenue: $424.1 million
Result: reported results

Exact text from the filing

For the full year 2023, revenue was $424.1 million, up $62.1 million from the full year of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Innovex International, Inc. updated its fiscal 2024 guidance (initiated).

Period: fiscal 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

2024 Financial Outlook • Revenue growth of 15%-20% • Adjusted EBITDA of $65 million to $75 million • Subsea Product Bookings of $200 million to $225 million • Capital Expenditures 3-5% of revenue

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Innovex International, Inc. filing history →

Source: SEC EDGAR

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