Dril-Quip

Dril-Quip, Inc. designs, manufactures, sells and services engineered offshore drilling and production equipment. It operates through the following geographical segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific. Its products include specialty casing connectors, mudline suspension equipment, downhole tools, capital drilling equipment, control systems, and dry tree systems. The company was founded by Larry E. Reimert, Gary W. Loveless, Gary D. Smith and J. Mike Walker in 1981 and is headquartered in Houston, TX.

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Dril-Quip reports robust Q4 revenue growth and eyes market expansion

Dril-Quip's Q4 2022 earnings call highlighted strong revenue growth, improved margins, and a focus on operational efficiency. While facing challenges in free cash flow, the company is poised to capitalize on growth opportunities in key markets for long-term success.

Dril-Quip reports solid Q1 growth, eyes market expansion opportunities

Dril-Quip's Q1 performance reflects revenue growth and operational initiatives driving efficiency. While facing challenges with free cash flow and customer responsiveness, the company remains optimistic about future opportunities and growth potential. Maintaining a disciplined approach to capital allocation positions Dril-Quip for long-term success.

Dril-Quip reports robust Q2 performance and expands market presence

Dril-Quip's Q2 2023 performance reflects operational strength and strategic focus, with notable achievements in key projects and financial improvements.
The Great North acquisition bolsters the company's market position and offers synergistic benefits, while maintaining a solid financial foundation.
Despite segment challenges, Dril-Quip's diversified operations and debt-free status provide resilience and opportunities for growth amidst market uncertainties.

Dril-Quip reports robust Q3 earnings, eyes growth through strategic initiatives

Despite facing challenges in the service segment, Dril-Quip's strong revenue growth and strategic initiatives position it for future success. The acquisition of Great North and focus on synergies offer promising prospects for enhanced profitability. With a positive outlook for 2024, the company aims to capitalize on market opportunities and drive growth.

Dril-Quip reports stellar Q4 results, eyes growth amid industry optimism

Dril-Quip's Q4 2023 performance reflects robust revenue growth, improved EBITDA, and strategic initiatives driving operational efficiency and financial strength.
Despite potential challenges from market dynamics and operational complexities, the company's positive outlook, strong financial metrics, and market positioning offer a foundation for continued success.
With a focus on growth opportunities, market expansion, and operational resilience, Dril-Quip is poised to capitalize on industry trends, drive innovation, and deliver value to stakeholders.

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Innovex International, Inc. engages in the provision of solutions for both onshore and offshore applications within the oil and gas industry. The company was founded on September 15, 2016 and is headquartered in Humble, TX.

Lower Subsea Product and Subsea Services revenues hurt Dril-Quip's (DRQ) earnings in Q2.

Dril-Quip (DRQ) Lags on Q2 Earnings, Raises '23 Revenue Target

Dril-Quip, Inc. (NYSE:DRQ ) Q2 2023 Earnings Conference Call August 1, 2023 9:00 AM ET Company Participants Erin Fazio - Corporate Finance Director Jeff Bird - President, Chief Executive Officer Kyle McClure - Vice President, Chief Financial Officer Conference Call Participants Operator Good morning, and welcome to Dril-Quip's Second Quarter 2023 Earnings and Great North Acquisition Update Call. At this time, all participants are in a listen-only mode and there will be a question-and-answer session opportunity at the end of this call.

Dril-Quip, Inc. (DRQ) Q2 2023 Earnings Call Transcript

Second quarter bookings increase 47% over prior year Announces acquisition of Great North to expand the Company's Well Construction portfolio HOUSTON, TX / ACCESSWIRE / July 31, 2023 / Dril-Quip, Inc. (NYSE:DRQ), (the "Company" or "Dril-Quip"), a developer, manufacturer and provider of highly engineered equipment, service, and innovative technologies for use in the energy industry, today reported operational and financial results for the second quarter of 2023. Second Quarter Highlights Revenue of $89.6 million decreased 1% sequentially and 5% year-over-year Net Bookings of $72.7 million increased 36% sequentially and 47% year-over-year, representing a book-to-bill ratio of 1.2x Net Income of $3.5 million increased $1.2 million sequentially and increased $9.1 million year-over-year Adjusted EBITDA of $8.8 million is sequentially flat and decreased $0.6 million year-over-year Gross Margin of 26.7% decreased 125 basis points sequentially and increased 79 basis points year-over-year Installed BigBore™ lle Wellhead System for Petrobras Exploratory project in the Santos Basin Successfully installed HorizontalBore™ Subsea Trees at Woodside Shenzi North Remain on track to complete footprint optimization initiatives by year end 2023 Subsequent to quarter end, received approximately $16.8 million from the U.S. Internal Revenue Service related to prior year audit adjustments Subsequent to quarter end, announced acquisition of Great North to expand the Company's Well Construction portfolio (the "Acquisition") "We delivered another quarter of strong operational performance as we continue to benefit from the improving offshore drilling market, while we control costs and drive sustained margin improvement," said Jeff Bird, Dril-Quip's President and Chief Executive Officer.

Dril-Quip, Inc. Announces Second Quarter 2023 Results

Acquisition of a leading provider of customized wellheads and mission-critical proprietary completion solutions, adding to Dril-Quip's Well Construction portfolio Expands Dril-Quip's addressable market in land-based wellheads Cost synergies through the combined best-cost regional supply chains of both companies Revenue expansion as Dril-Quip leverages its footprint to service its clients with Great North's industry-leading products Positions Dril-Quip to further service the emerging Carbon Capture, Utilization and Storage (CCUS) market Transaction is expected to be immediately accretive to key financial metrics HOUSTON, TX / ACCESSWIRE / July 31, 2023 / Dril-Quip, Inc. (NYSE:DRQ), (the "Company" or "Dril-Quip"), a developer, manufacturer, and provider of highly engineered equipment, service, and innovative technologies for use in the energy industry, today announced it has acquired Great North Wellhead and its subsidiaries (collectively "Great North") for approximately $80 million in an all-cash transaction, subject to customary purchase price adjustments. Great North is a leading provider of mission-critical wellhead products and well-completion solutions.

Dril-Quip, Inc. Announces Acquisition of Great North, Expanding Its Market Presence in Well Construction

HOUSTON, TX / ACCESSWIRE / July 27, 2023 / Dril-Quip, Inc. (NYSE:DRQ), (the "Company" or "Dril-Quip") announced today that it will release its second quarter 2023 earnings results on July 31, 2023, after the close of the U.S. financial markets. Management will host a conference call and a webcast to discuss the financial results on August 1, 2023, at 9:00 a.m.

Dril-Quip, Inc. Schedules Second Quarter 2023 Earnings Release and Conference Call

HOUSTON, TX / ACCESSWIRE / June 7, 2023 / Dril-Quip, Inc. (NYSE:DRQ), (the "Company" or "Dril-Quip"), announced today the successful installation of its 18 3/4" BigBore™ IIe wellhead system for the Petrobras Exploratory project in the Aram Block of the Santos Basin, in 2002-meter water depth. The BigBore™ IIe wellhead system is the newest and most advanced standard system for Dril-Quip, with sealing technology qualified to the latest Petrobras standards.

Dril-Quip, Inc. Announces Successful Installation of BigBore(TM) IIe Wellhead System for Petrobras Exploratory Project in the Santos Basin

Murphy USA

Although the OPEC+ announcement was unable to prop up oil prices, investors could look at Buy-ranked stocks like NOW Inc., (DNOW)), Murphy USA (MUSA) and Dril-Quip (DRQ).

Why OPEC's Latest Move Failed to Give Oil Prices a Major Boost?

Some oil-related stocks that could benefit in the current environment include NOW Inc. (DNOW), Murphy USA (MUSA) and Dril-Quip, Inc. (DRQ).

Oil Prices Ignore Surprise Supply Build to Reclaim $70 Level

Some oil-related stocks that could benefit in the current environment include NOW Inc. (DNOW), Murphy USA (MUSA) and Dril-Quip (DRQ).

Oil Prices Jump as U.S. Supplies Post a Big Weekly Decline

Dril-Quip, Inc. (NYSE:DRQ ) Q1 2023 Earnings Conference Call May 9, 2023 11:30 AM ET Company Participants Jeff Bird - President, Chief Executive Officer Kyle McClure - Vice President, Chief Financial Officer Erin Fazio - Finance Director Conference Call Participants David Smith - Pickering Energy Partners Operator Good morning, and welcome to the Dril-Quip First Quarter 2023 Fireside Chat. At this time all participants are on a listen-only mode and there will be no question-and-answer opportunity at the end of this call.

Dril-Quip, Inc. (DRQ) Q1 2023 Earnings Call Transcript

Improved performance of key offshore markets and some reemerging areas aids Dril-Quip's (DRQ) Q1 earnings.

Dril-Quip (DRQ) Q1 Earnings Beat on Key Market Contributions

First quarter revenue increases 9% over prior year Company announces segment reporting changes Additional progress made along footprint optimization initiatives HOUSTON, TX / ACCESSWIRE / May 8, 2023 / Dril-Quip, Inc. (NYSE:DRQ), (the "Company" or "Dril-Quip"), a developer, manufacturer and provider of highly engineered equipment, service, and innovative technologies for use in the energy industry, today reported operational and financial results for the first quarter of 2023. First Quarter Highlights Revenue of $90.9 million decreased 6% sequentially and increased 9% year-over-year Net Bookings of $53.5 million decreased 43% sequentially and 20% year-over-year Net Income of $2.3 million increased $2.6 million sequentially and $11.2 million year-over-year Adjusted EBITDA of $8.8 million improved from $3.2 million one year ago and decreased 15% sequentially Gross Margin of 28% decreased 333 basis points sequentially and increased 489 basis points year-over-year Closed on the sale of the Houston aftermarket facility during the first quarter, and on track for the sale of a third Houston property by the end of the fiscal year After quarter end, successfully completed the installation of two 15,000 psi HorizontalBoreTM Subsea Trees at the Woodside Shenzi North oil and gas field in the U.S. Gulf of Mexico Announcing reporting segment changes to present Subsea Products, Subsea Services and Well Construction in our quarterly SEC filings "Our first quarter performance delivered strong revenue results that were driven by the ongoing upcycle in key offshore markets such as Brazil, the Middle East, Latin America, and some reemerging markets, for example, West Africa," said Jeff Bird, Dril-Quip's President and Chief Executive Officer.

Dril-Quip, Inc. Announces First Quarter 2023 Results

HOUSTON, TX / ACCESSWIRE / May 3, 2023 / Dril-Quip, Inc. (NYSE:DRQ), (the "Company" or "Dril-Quip") announced today that it will release its first quarter 2023 earnings results on May 8, 2023, after the close of the U.S. financial markets. The Company will also be participating in a fireside chat conversation with David Smith of Pickering Energy Partners on May 9, 2023, at 11:30 a.m.

Dril-Quip, Inc. Schedules First Quarter 2023 Earnings Release and Conference Call

HOUSTON, TX / ACCESSWIRE / April 21, 2023 / Dril-Quip, Inc. (NYSE:DRQ), (the "Company" or "Dril-Quip"), a developer, manufacturer and provider of highly engineered equipment, service and innovative technologies for use in the energy industry, today announced the successful installation and completion of two 15,000 psi HorizontalBoreTM Subsea Trees at the Woodside Shenzi North oil and gas field in the U.S. Gulf of Mexico in collaboration with global controls technology company Proserv. Dril-Quip's 15,000 psi HorizontalBoreTM Subsea Tree is the latest modular designed subsea production system that accommodates numerous completion configuration possibilities.

Dril-Quip, Inc. Announces Successful Installation Of HorizontalBore(TM) Subsea Trees At Woodside Shenzi North

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SIGA Technologies

ABNB, SIGA and DRQ made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on April 14, 2023.

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Horizon Pharma

ABNB, SIGA, DRQ, SWRAY and HZNP have been added to the Zacks Rank #1 (Strong Buy) List on April 14, 2023.

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Dril-Quip (DRQ) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

What Makes Dril-Quip (DRQ) a New Buy Stock

Dril-Quip, Inc. is a manufacturer, designer, and seller of highly complex and engineered products for offshore and onshore platforms. Considering the total amount of cash in hand and properties, I believe that Dril-Quip is significantly undervalued. Close to 20% of the total enterprise value is represented by cash.

Dril-Quip: Chevron Link And Backlog Acceleration Make It Undervalued

Dril-Quip, Inc. (NYSE:DRQ ) Q4 2022 Earnings Conference Call February 28, 2023 10:00 AM ET Company Participants Erin Fazio - Finance Director Jeff Bird - President and Chief Executive Officer Kyle McClure - VP & CFO Conference Call Participants Eddie Kim - Barclays Operator Good day, and thank you for standing by. Welcome to the Dril-Quip Q4 Full Year 2022 Earnings Conference Call.

Dril-Quip, Inc. (DRQ) Q4 2022 Earnings Call Transcript

An increase in product bookings due to improving market conditions aid Dril-Quip's (DRQ) earnings in Q4.

Dril-Quip (DRQ) Beats on Q4 Earnings, Ups 2023 Capex Outlook

Fourth quarter and full year revenue increase double digits year-over-year Significant progress made along operational excellence initiatives Company provides fiscal 2023 financial outlook

Dril-Quip, Inc. Announces Fourth Quarter and Full Year 2022 Results

HOUSTON, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Dril-Quip, Inc. (NYSE: DRQ), (the “Company” or “Dril-Quip”) announced today that it will release its fourth quarter and full year 2022 earnings results on February 27, 2023, after the close of the U.S. financial markets.

Dril-Quip, Inc. Schedules Fourth Quarter and Full Year 2022 Earnings Release and Conference Call

Oil States International

Higher upstream activities are leading to improvement in demand for drilling & production equipment, thereby brightening the outlook for the Zacks Oil and Gas- Mechanical and Equipment industry. Some of the frontrunners in the industry are NOW (DNOW), Dril-Quip (DRQ) and Oil States (OIS).

3 Oil & Gas Equipment Stocks to Gain From the Strengthening Industry

Increased product revenues aid Dril-Quip's (DRQ) earnings in Q3.

News for Dril-Quip Stock (DRQ)