DTI reports Q2 2023 revenue up 25% to $37.9M; full-year guidance reduced

Drilling Tools International Corp

2023-Q2 EPS reported $0.33 revenue$78,707,000

Net income fell to $0.9M ($0.05 diluted EPS) from $5.9M ($0.30) in Q2 2022 due to transaction and personnel costs.
Adjusted EBITDA rose to $13.3M from $8.8M YoY, driven by higher activity and pricing.
Full-year 2023 guidance lowered: revenue $150–158M, Adjusted EBITDA $50–54M, Net income $12–19M.
Completed business combination with ROC Energy Acquisition Corp; now trading on Nasdaq as DTI.
Cash $7.2M with undrawn $60M revolver; appoints Thomas 'Roe' Patterson to Board.

item 2.02 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

Drilling Tools International Corp reported the quarter ended June 30, 2023 results: revenue $37.9 million, net income $0.9 million, EPS $0.05 per diluted share. Guidance lowered.

Period: the quarter ended June 30, 2023
Revenue: $37.9 million
Net income: $0.9 million
EPS: $0.05 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Drilling Tools International Reports Second Quarter 2023 Financial Results Second Quarter 2023 Revenue Grew 25% Year-over-Year to $37.9 million Successful completion of business combination; Shares commenced trading on Nasdaq HOUSTON, TEXAS – (August 14, 2023) — Drilling Tools International Corp., (“DTI” or the

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Source: SEC EDGAR

accession 0001193125-23-212305

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