DRIL-QUIP INC
For the period ended Jun 30, 2024. Filed Aug 7, 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.
Jun 30, 2024 · Filed Aug 7, 2024
INVX$24.91-1.6%Stored close · as of Nov 10, 2026
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Statements of Income (Loss)
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
| Three months ended · Six months ended | ||||
|---|---|---|---|---|
| June 30, | June 30, | |||
| 2024 | 2023 | 2024 | 2023 | |
| (In thousands, except per share data) | ||||
| Revenues: | ||||
| Products | $74,330 | $55,828 | $138,892 | $115,074 |
| Services | 32,714 | 23,733 | 62,901 | 45,014 |
| Leasing | 13,298 | 10,046 | 28,847 | 20,384 |
| Total revenues | 120,342 | 89,607 | 230,640 | 180,472 |
| Cost and expenses: | ||||
| Cost of sales: | ||||
| Products | 52,944 | 45,165 | 101,161 | 92,209 |
| Services | 24,063 | 15,113 | 47,420 | 27,116 |
| Leasing | 6,222 | 5,433 | 13,068 | 11,888 |
| Total cost of sales | 83,229 | 65,711 | 161,649 | 131,213 |
| Selling, general and administrative | 29,771 | 22,114 | 59,762 | 44,699 |
| Engineering and product development | 3,588 | 3,202 | 7,326 | 6,601 |
| Restructuring and other charges | - | (610) | - | 1,108 |
| Gain on sale of property, plant and equipment | 54 | (738) | (146) | (7,385) |
| Acquisition costs | 1,695 | 1,134 | 20,742 | 1,134 |
| Foreign currency transaction loss (gain) | 6,671 | (4,812) | 4,775 | (3,692) |
| Total costs and expenses | 125,008 | 86,001 | 254,108 | 173,678 |
| Operating income (loss) | (4,666) | 3,606 | (23,468) | 6,794 |
| Interest income, net | (2,053) | (1,979) | (4,249) | (4,726) |
| Income (loss) before income taxes | (2,613) | 5,585 | (19,219) | 11,520 |
| Income tax provision (benefit) | (801) | 2,102 | 2,577 | 5,726 |
| Net income (loss) | $(1,812) | $3,483 | $(21,796) | $5,794 |
| Net income (loss) per common share: | ||||
| Basic | $(0.05) | $0.10 | $(0.63) | $0.17 |
| Diluted | $(0.05) | $0.10 | $(0.63) | $0.17 |
| Weighted average common shares outstanding: | ||||
| Basic | 34,437 | 34,130 | 34,427 | 34,129 |
| Diluted | 34,437 | 34,490 | 34,427 | 34,488 |
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