DTI Q3 adj. EPS $0.14, lowers FY2024 revenue guidance to $145-155M

Drilling Tools International Corp

2024-Q3 EPS reported $0.14 revenue$114,600,000

Q3 revenue $40.1M (rental $28.1M, product $12.0M); net income $867k ($0.03 diluted EPS); adjusted net income $4.6M ($0.14 adj. diluted EPS).
Adjusted EBITDA $11.1M, adjusted free cash flow $7.8M; cash $12M, net debt $32.1M at Sept 30.
FY2024 outlook reduced: revenue $145-155M, adjusted EBITDA $38-43M, adjusted net income $7.7-9.8M.
CEO: sequential improvement but less than expected; Q4 slowdown from holiday breaks and customer capital discipline.

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