Innovex Q3 2024 revenue $152M, net income $83M on $93M bargain purchase gain, diluted EPS $1.99

Innovex International, Inc.

2024-Q3 EPS reported $3.08 revenue$410,116,000

Revenue $152M (+17% QoQ); net income $83M (54% margin) includes $93M bargain purchase gain from Dril-Quip merger.
Diluted EPS $1.99; loss from operations $13M; adjusted EBITDA $27M (18% margin vs 23% prior quarter).
Achieved 100% of year-one cost synergy target ($15M annualized); CEO cites improved on-time delivery efforts.
Free cash flow $20M; net cash from operations $22M; ROCE 9% (down from 17% in Q2).

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