DRIL-QUIP INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
INVX$25.32+0.8%Stored close · as of Nov 9, 2026
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Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three months ended | ||
|---|---|---|
| March 31, | ||
| 2024 | 2023 | |
| (In thousands) | ||
| Cash flows from operating activities: | ||
| Net income (loss) | $(19,984) | $2,311 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 8,432 | 6,889 |
| Stock-based compensation expense | 2,788 | 2,577 |
| Restructuring and other charges | - | 683 |
| Gain on sale of property, plant and equipment | (200) | (6,647) |
| Acquisition costs | 18,087 | - |
| Deferred income taxes | (1,997) | (211) |
| Changes in operating assets and liabilities: | ||
| Trade receivables, net | (937) | (39,531) |
| Unbilled receivables | 3,973 | (6,376) |
| Inventories | (13,152) | (4,758) |
| Prepaids and other assets | (1,186) | 1,335 |
| Accounts payable and accrued expenses | 124 | (9,192) |
| Other, net | (52) | - |
| Net cash used in operating activities | (4,104) | (52,920) |
| Cash flows from investing activities: | ||
| Purchase of property, plant and equipment | (4,757) | (5,424) |
| Proceeds from sale of property, plant and equipment | 375 | 15,460 |
| Purchase of short-term investments | - | (9,081) |
| Maturities of short-term investments | 21,892 | 22,392 |
| Net cash provided by investing activities | 17,510 | 23,347 |
| Cash flows from financing activities: | ||
| Other | (297) | (11) |
| Net cash used in financing activities | (297) | (11) |
| Effect of exchange rate changes on cash activities | (2,209) | 123 |
| Increase (decrease) in cash and cash equivalents | 10,900 | (29,461) |
| Cash and cash equivalents at beginning of period | 191,400 | 264,804 |
| Cash and cash equivalents at end of period | $202,300 | $235,343 |
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