Dril-Quip, Inc. Announces First Quarter 2024 Results
Dril-Quip, Inc. Announces First Quarter 2024 Results
HOUSTON, TX / ACCESSWIRE / May 2, 2024 / 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 three months ended March 31, 2024.
德克薩斯州休斯敦/ACCESSWIRE/2024年5月2日/用於能源行業的高度工程化設備、服務和創新技術的開發商、製造商和提供商Dril-Quip, Inc.(紐約證券交易所代碼:DRQ)(“公司” 或 “Dril-Quip”)今天公佈了截至2024年3月31日的三個月的運營和財務業績。
First Quarter Highlights
第一季度亮點
- Revenue of $110.3 million decreased 12.7% sequentially and increased 21.4% year-over-year
- Net Subsea Product Bookings of $41.1 million
- Net Loss of $20.0 million decreased $21.8 million sequentially and $22.3 million year-over-year
- Adjusted EBITDA of $10.2 million decreased $6.4 million sequentially and increased $1.3 million year-over-year
- Gross Margin of 28.9 % increased 147 basis points sequentially and 99 basis points year-over-year
- Delivered first Great North wellheads internationally to a project in North Africa
- First installation of our SS-15 RLDe Rigid Lockdown Subsea Wellhead System for an offshore project in Australia
- Maintained our MSCI ESG rating of an "A" for the year
- Announced strategic combination with Innovex Downhole Solutions Inc. ("Innovex") to create a leading industrial energy platform
- 收入爲1.103億美元,環比下降12.7%,同比增長21.4%
- 海底產品淨預訂量爲4,110萬美元
- 淨虧損爲2,000萬美元,環比減少2180萬美元,同比減少2,230萬美元
- 調整後的息稅折舊攤銷前利潤爲1,020萬美元,環比下降640萬美元,同比增長130萬美元
- 毛利率爲28.9%,環比增長147個點子,同比增長99個點子
- 向北非的一個項目在國際上交付了第一個 Great North 井口
- 首次安裝我們的 SS-15 RlDE 用於澳大利亞海上項目的剛性封鎖海底井口系統
- 維持本年度摩根士丹利資本國際公司ESG評級的 “A”
- 宣佈與Innovex Downhole Solutions Inc.(“Innovex”)進行戰略合併,以創建領先的工業能源平台
Operational and Financial Results
運營和財務業績
Revenue, Cost of Sales and Gross Operating Margin
收入、銷售成本和總營業利潤率
Consolidated revenue for the first quarter of 2024 was $110.3 million, down $16.0 million from the fourth quarter of 2023 and up $19.4 million compared to the first quarter of 2023. The decrease in revenue sequentially was primarily driven by lower Subsea Product connector and surface equipment sales and a delayed Subsea Service project in Europe. The increase compared to the first quarter of 2023 was driven by the addition of Great North, which contributed $25.1 million in the quarter, partially offset by lower Subsea Product sales.
2024年第一季度的合併收入爲1.103億美元,比2023年第四季度下降1,600萬美元,與2023年第一季度相比增長1,940萬美元。收入連續下降的主要原因是海底產品連接器和表面設備銷售下降以及歐洲海底服務項目的延遲。與2023年第一季度相比的增長是由Great North的加入推動的,該公司在本季度貢獻了2510萬美元,但海底產品銷售額的下降部分抵消了這一增長。
Cost of sales for the first quarter of 2024 was $78.4 million, a decrease of $13.3 million sequentially and an increase of $12.9 million year-over year. Gross operating margin for the first quarter of 2024 was 28.9%, up from 27.4% for the fourth quarter of 2023 and 27.9% year-over-year. Gross margins increased both sequentially and year-over-year, driven by favorable product mix within Subsea Products and Well Construction.
2024年第一季度的銷售成本爲7,840萬美元,環比減少1,330萬美元,同比增長1,290萬美元。2024年第一季度的毛營業利潤率爲28.9%,高於2023年第四季度的27.4%和同比27.9%。受海底產品和油井施工內部良好的產品組合的推動,毛利率連續上升和同比增長。
Selling, General, Administrative, and Engineering & Other Expenses
銷售、總務、管理、工程及其他費用
Selling, general and administrative ("SG&A") expenses for the first quarter of 2024 were $30.0 million, an increase of $0.2 million compared to the fourth quarter of 2023 and an increase of $7.4 million year-over-year. SG&A increased sequentially primarily due to higher personnel related expense and professional services. SG&A increased year-over-year primarily due the addition of Great North expenses and higher personnel related costs.
2024年第一季度的銷售、一般和管理(“SG&A”)支出爲3,000萬美元,與2023年第四季度相比增加了20萬美元,同比增長了740萬美元。銷售和收購連續增長的主要原因是與人事相關的費用和專業服務的增加。銷售和收購同比增長的主要原因是大北地區支出的增加和人事相關成本的增加。
Engineering and product development expenses were $3.7 million for the first quarter of 2024, an increase of $0.8 million from the fourth quarter of 2023 and an increase of $0.3 million year-over-year. The sequential and year-over-year increase is attributed to increased testing and qualifications related to specific international customer requirements.
2024年第一季度的工程和產品開發費用爲370萬美元,比2023年第四季度增加了80萬美元,同比增長了30萬美元。連續增長和同比增長歸因於與特定國際客戶要求相關的測試和資格證書的增加。
During the quarter, the Company recognized $19.0 million of expense related to the previously announced merger with Innovex.
在本季度,公司確認了與先前宣佈的與Innovex合併相關的1,900萬美元支出。
Net Income, Adjusted EBITDA and Free Cash Flow
淨收益、調整後的息稅折舊攤銷前利潤和自由現金流
For the first quarter of 2024, the Company reported net loss of $20.0 million, or a loss of $0.58 per share. This compares to net income of $1.8 million, or $0.05 per share, for the fourth quarter of 2023 and a net income of $2.3 million, or $0.07 per share, in the prior year period.
2024年第一季度,該公司報告的淨虧損爲2,000萬美元,合每股虧損0.58美元。相比之下,2023年第四季度的淨收入爲180萬美元,合每股收益0.05美元,去年同期淨收入爲230萬美元,合每股收益0.07美元。
Adjusted EBITDA totaled $10.2 million for the first quarter of 2024, a decrease of $6.4 million sequentially, and an increase of $1.3 million from one year ago.
2024年第一季度調整後的息稅折舊攤銷前利潤總額爲1,020萬美元,環比減少640萬美元,比去年同期增加130萬美元。
Cash used in operations was $4.1 million for the first quarter of 2024, a decrease of $30.2 million sequentially and an increase of $48.8 million compared to first quarter of 2023. Free cash flow was a use of $8.9 million for the first quarter of 2024, a decrease of $23.4 million sequentially and an improvement of $49.5 million compared to the first quarter of 2023.
2024年第一季度運營中使用的現金爲410萬美元,環比減少3,020萬美元,與2023年第一季度相比增加了4,880萬美元。2024年第一季度的自由現金流使用了890萬美元,環比減少了2340萬美元,與2023年第一季度相比增加了4,950萬美元。
Capital expenditures in the first quarter of 2024 were $4.8 million, the majority of which were related to investments in manufacturing equipment and rental tools bound for work already secured.
2024年第一季度的資本支出爲480萬美元,其中大部分與製造設備和租賃工具的投資有關,這些工具必須用於已經獲得保障。
Outlook
外表
Due to the pending merger with Innovex, the Company has suspended providing earnings guidance updates. Accordingly, investors are cautioned not to rely on historical forward-looking statements as those forward-looking statements were the estimates of management only as of the date provided and were subject to the specific risks and uncertainties that accompanied such forward-looking statements.
由於即將與Innovex合併,該公司已暫停提供最新的收益指導。因此,提醒投資者不要依賴歷史前瞻性陳述,因爲這些前瞻性陳述僅是管理層截至提供之日的估計,並且受此類前瞻性陳述所伴隨的特定風險和不確定性的影響。
Conference Call
電話會議
Due to the pending merger with Innovex, Dril-Quip will not host a conference call or webcast to discuss its first quarter 2024 results.
由於即將與Innovex合併,Dril-Quip不會舉辦電話會議或網絡直播來討論其2024年第一季度的業績。
About Dril-Quip
關於 Dril-Quip
Dril-Quip is a developer, manufacturer and provider of highly engineered equipment, service and innovative technologies for use in the energy industry.
Dril-Quip 是用於能源行業的高度工程化設備、服務和創新技術的開發商、製造商和提供商。
Investors should note that Dril-Quip announces material financial information in Securities and Exchange Commission ("SEC") filings, press releases and public conference calls. Dril-Quip may use the Investors section of its website () to communicate with investors. It is possible that the financial and other information posted there could be deemed to be material information. Information on Dril-Quip's website is not part of this release.
投資者應注意,Dril-Quip在美國證券交易委員會(“SEC”)的文件、新聞稿和公開電話會議中公佈了重要的財務信息。Dril-Quip可能會使用其網站的 “投資者” 部分 () 與投資者溝通。在那裏發佈的財務和其他信息可能被視爲重要信息。Dril-Quip 網站上的信息不在本版本中。
Forward-Looking Statements
前瞻性陳述
Statements contained herein relating to future operations and financial results that are forward-looking statements, including those related to market conditions, benefits of the recently completed acquisition of Great North, anticipated project bookings, anticipated timing of delivery of new orders, anticipated revenues, costs, cost synergies and savings, possible acquisitions, new product offerings and related revenues, share repurchases and expectations regarding operating results, are based upon certain assumptions and analyses made by the management of the Company in light of its experience and perception of historical trends, current conditions, expected future developments and other factors. These statements are subject to risks beyond the Company's control, including, but not limited to, risks related to the pending merger with Innovex, including uncertainty as to whether the conditions to closing the mergers will be satisfied or whether the mergers will be completed, the risk that a regulatory approval, consent or authorization that may be required for the transaction is not obtained in a timely manner or at all, or is obtained subject to conditions that are not anticipated, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, the impact of actions taken by the Organization of Petroleum Exporting Countries and the expanded alliance (OPEC+) with respect to their production levels and the effects thereof, risks related to the recently completed acquisition, including the risk that the benefits of the Great North acquisition may not be fully realized or may take longer to realize than expected, that we will fail to successfully integrate the properties and assets into our business and that management attention will be diverted to integration-related issues, the impact of general economic conditions, including inflationary pressures and interest rates, a general economic slowdown or recession or instability in financial institutions, on economic activity and on our operations, the general volatility of oil and natural gas prices and cyclicality of the oil and gas industry, declines in investor and lender sentiment with respect to, and new capital investments in, the oil and gas industry, project terminations, suspensions or scope adjustments to contracts, uncertainties regarding the effects of new governmental regulations, the Company's international operations, operating risks, the impact of our customers and the global energy sector shifting some of their asset allocation from fossil-fuel production to renewable energy resources, and other factors detailed in the Company's public filings with the SEC. Investors are cautioned that any such statements are not guarantees of future performance and actual outcomes may vary materially from those indicated.
此處包含的與未來運營和財務業績有關的前瞻性陳述,包括與市場狀況、最近完成收購Great North的收益、預期的項目預訂、新訂單的預期交付時間、預期收入、成本、成本協同效應和節約、可能的收購、新產品供應和相關收入、股票回購以及對經營業績的預期有關的陳述,均基於管理層的某些假設和分析公司根據其經驗和對歷史趨勢、當前狀況、預期未來發展和其他因素的看法。這些聲明存在公司無法控制的風險,包括但不限於與Innovex即將進行的合併相關的風險,包括完成合並的條件是否得到滿足或合併是否會完成的不確定性,交易可能需要的監管部門批准、同意或授權得不到及時或根本沒有獲得監管部門批准、同意或授權的風險,或者是在意想不到的條件下獲得的,發生任何事情可能造成的事件、變更或其他情況包括合併協議的終止、石油輸出國組織和擴大聯盟(歐佩克+)對其產量水平的影響及其影響、與最近完成的收購相關的風險,包括收購大北地區的收益可能無法完全實現或可能需要比預期更長的時間才能實現的風險,我們無法成功地將財產和資產整合到我們的業務中,管理層的注意力將轉移到我們的業務中走向整合相關問題,包括通貨膨脹壓力和利率、經濟普遍放緩或衰退或金融機構不穩定在內的總體經濟狀況對經濟活動和我們運營的影響、石油和天然氣價格的普遍波動以及石油和天然氣行業的週期性、投資者和貸款人對石油和天然氣行業的情緒下降以及對石油和天然氣行業的新資本投資、項目終止、暫停或不確定性合同範圍的調整,關於新品的影響政府監管、公司的國際業務、運營風險、我們的客戶和全球能源行業將部分資產配置從化石燃料生產轉移到可再生能源的影響,以及公司向美國證券交易委員會提交的公開文件中詳述的其他因素。投資者請注意,任何此類陳述都不能保證未來的表現,實際結果可能與所示結果存在重大差異。
Important Information for Stockholders
股東的重要信息
In connection with the proposed merger of the Company and Innovex, the Company has filed with the SEC a registration statement on Form S-4 (the "Registration Statement") that included a proxy statement/prospectus (the "Proxy Statement/Prospectus"). The information in the Registration Statement is not complete and may be changed. The Company has filed other relevant documents with the SEC regarding the proposed merger. This document is not a substitute for the Proxy Statement/Prospectus or Registration Statement or any other document that the Company has filed with the SEC. STOCKHOLDERS ARE URGED TO CAREFULLY READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER RELEVANT DOCUMENTS THAT HAVE BEEN FILED BY THE COMPANY WITH THE SEC IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. Such stockholders can obtain free copies of the Registration Statement and Proxy Statement/Prospectus and other documents containing important information about the Company, Innovex and the proposed merger, once such documents are filed with the SEC through the website maintained by the SEC at Additional information is available on the Company's website, .
關於公司與Innovex的擬議合併,該公司已向美國證券交易委員會提交了S-4表格的註冊聲明(“註冊聲明”),其中包括委託書/招股說明書(“委託書/招股說明書”)。註冊聲明中的信息不完整,可能會更改。該公司已就擬議的合併向美國證券交易委員會提交了其他相關文件。本文件不能替代委託書/招股說明書或註冊聲明或公司向美國證券交易委員會提交的任何其他文件。敦促股東仔細閱讀公司向美國證券交易委員會提交的註冊聲明、委託書/招股說明書(包括其所有修正案和補充文件)和其他相關文件,因爲它們包含有關擬議合併的重要信息。這些股東可以通過美國證券交易委員會維護的網站向美國證券交易委員會提交註冊聲明和委託書/招股說明書以及其他包含有關公司、Innovex和擬議合併的重要信息的文件的免費副本,該網站上的其他信息可在公司網站上查閱。
No Offer or Solicitation
不得提出要約或邀請
This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
本通信無意也不得構成買入或賣出要約或招攬買入或賣出任何證券的要約,或徵求任何投票或批准,也不得在任何司法管轄區根據任何此類司法管轄區的證券法進行註冊或獲得資格之前此類要約、招標或出售爲非法的證券出售。除非通過符合經修訂的1933年《證券法》第10條要求的招股說明書,否則不得發行證券。
Participants in the Solicitation
招標參與者
The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from stockholders in connection with the proposed merger. Information about the Company's directors and executive officers including a description of their interests in the Company is included in the Company's most recent Annual Report on Form 10-K, including any information incorporated therein by reference, as filed with the SEC. Additional information regarding these persons and their interests in the proposed merger is included in the Proxy Statement/Prospectus relating to the proposed merger filed with the SEC. These documents can be obtained free of charge from the sources indicated above. Innovex and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company stockholders in connection with the proposed merger. A list of the names of such directors and executive officers and information regarding their interests in the proposed merger is included in the Proxy Statement/Prospectus relating to the proposed merger filed with the SEC.
公司及其董事和執行官可能被視爲參與向股東征集與擬議合併有關的代理人。公司向美國證券交易委員會提交的最新10-K表年度報告包含有關公司董事和執行官的信息,包括以引用方式納入的任何信息,包括其中以引用方式納入的任何信息。有關這些人及其在擬議合併中的權益的其他信息包含在向美國證券交易委員會提交的與擬議合併相關的委託書/招股說明書中。這些文件可以從上述來源免費獲得。Innovex及其董事和執行官可能被視爲參與向公司股東征集與擬議合併有關的代理人。向美國證券交易委員會提交的與擬議合併有關的委託書/招股說明書中包含了此類董事和執行官的姓名清單以及有關他們在擬議合併中的權益的信息。
Non-GAAP Financial Information
非公認會計准則財務信息
Adjusted Net Income (Loss), Adjusted Diluted EPS, Free Cash Flow and Adjusted EBITDA are non-GAAP measures.
調整後淨收益(虧損)、調整後攤薄後每股收益、自由現金流和調整後息稅折舊攤銷前利潤是非公認會計准則指標。
Adjusted Net Income (Loss) and Adjusted Diluted EPS are defined as net income (loss) and earnings per share, respectively, excluding the impact of foreign currency gains or losses as well as other significant non-cash items and certain charges and credits.
調整後淨收益(虧損)和調整後攤薄後每股收益分別定義爲淨收益(虧損)和每股收益,不包括外幣收益或虧損以及其他重大非現金項目和某些費用和貸項的影響。
Free Cash Flow is defined as net cash provided by operating activities less cash used in the purchase of property, plant and equipment.
自由現金流定義爲經營活動提供的淨現金減去用於購買不動產、廠房和設備的現金。
Adjusted EBITDA is defined as net income excluding income taxes, interest income and expense, depreciation and amortization expense, stock-based compensation, non-cash gains or losses from foreign currency exchange rate changes as well as other significant non-cash items and other adjustments for certain charges and credits.
調整後的息稅折舊攤銷前利潤定義爲淨收益,不包括所得稅、利息收入和支出、折舊和攤銷費用、股票薪酬、外幣匯率變動產生的非現金收益或損失以及其他重要的非現金項目和某些費用和貸項的其他調整。
The Company believes that these non-GAAP measures enable it to evaluate and compare more effectively the results of our operations period over period and identify operating trends by removing the effect of its capital structure from its operating structure. In addition, the Company believes that these measures are supplemental measurement tools used by analysts and investors to help evaluate overall operating performance, ability to pursue and service possible debt opportunities and make future capital expenditures. Adjusted Net Income (Loss), Adjusted EBITDA and Free Cash Flow do not represent funds available for our discretionary use and are not intended to represent or to be used as a substitute for net income or net cash provided by operating activities, as measured under U.S. generally accepted accounting principles ("GAAP").
該公司認爲,這些非公認會計准則指標使其能夠更有效地評估和比較我們一段時間內的經營業績,並通過消除其資本結構對運營結構的影響來確定運營趨勢。此外,該公司認爲,這些指標是分析師和投資者使用的補充衡量工具,用於幫助評估整體經營業績、追求和償還可能的債務機會以及進行未來資本支出的能力。調整後淨收益(虧損)、調整後息稅折舊攤銷前利潤和自由現金流不代表可供我們全權使用的資金,也無意代表或替代根據美國公認會計原則(“GAAP”)衡量的經營活動提供的淨收入或淨現金。
See "Unaudited Non-GAAP Financial Measures" below for additional information concerning non-GAAP financial information, including a reconciliation of the non-GAAP financial information presented in this press release to the most directly comparable financial information presented in accordance with GAAP. Non-GAAP financial information supplements and should be read together with, and is not an alternative or substitute for, the Company's financial results reported in accordance with GAAP. Because non-GAAP financial information is not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures.
有關非公認會計准則財務信息的更多信息,包括本新聞稿中提供的非公認會計准則財務信息與根據公認會計原則提供的最直接可比財務信息的對賬,請參閱下文 “未經審計的非公認會計准則財務指標”。非公認會計准則財務信息的補充,應與公司根據公認會計原則報告的財務業績一起閱讀,但不能替代或替代。由於非公認會計准則財務信息未標準化,因此可能無法將這些財務指標與其他公司的非公認會計准則財務指標進行比較。
Investor Relations Contact:
投資者關係聯繫人:
Erin Fazio, Director of Corporate Finance
Erin_Fazio@dril-quip.com
企業融資董事艾琳·法齊奧
Erin_Fazio@dril-quip.com
Dril-Quip, Inc.
Comparative Condensed Consolidated Income Statement
(Unaudited)
Dril-Quip, Inc.
比較簡明合併損益表
(未經審計)
Three months ended | ||||||||||||
March 31, 2024 | December 31, 2023 | March 31, 2023 | ||||||||||
(In thousands, except per share data) | ||||||||||||
Revenues: |
||||||||||||
Products |
$ | 64,562 | $ | 78,344 | $ | 59,246 | ||||||
Services |
30,187 | 33,452 | 21,281 | |||||||||
Leasing |
15,548 | 14,548 | 10,338 | |||||||||
Total revenues |
110,297 | 126,344 | 90,865 | |||||||||
Costs and expenses: |
||||||||||||
Cost of sales |
78,419 | 91,687 | 65,502 | |||||||||
Selling, general and administrative |
29,991 | 29,825 | 22,585 | |||||||||
Engineering and product development |
3,738 | 2,987 | 3,399 | |||||||||
Restructuring and other charges |
- | (130) | 1,718 | |||||||||
Gain on sale of property, plant and equipment |
(200) | (342) | (6,647) | |||||||||
Acquisition costs |
19,046 | (41) | - | |||||||||
Change in fair value of earn-out liability |
- | (2,282) | - | |||||||||
Foreign currency transaction loss (gain) |
(1,895) | 83 | 1,120 | |||||||||
Total costs and expenses |
129,099 | 121,787 | 87,677 | |||||||||
Operating income (loss) |
(18,802) | 4,557 | 3,188 | |||||||||
Interest income, net |
(2,196) | (1,150) | (2,747) | |||||||||
Income tax provision (benefit) |
3,378 | 3,863 | 3,624 | |||||||||
Net income (loss) |
$ | (19,984) | $ | 1,844 | $ | 2,311 | ||||||
Net income (loss) per share |
||||||||||||
Basic |
$ | (0.58) | $ | 0.05 | $ | 0.07 | ||||||
Diluted |
$ | (0.58) | $ | 0.05 | $ | 0.07 | ||||||
Depreciation and amortization |
$ | 8,432 | $ | 8,487 | $ | 6,889 | ||||||
Capital expenditures |
$ | 4,757 | $ | 11,585 | $ | 5,424 | ||||||
Weighted Average Shares Outstanding |
||||||||||||
Basic |
34,417 | 34,306 | 34,128 | |||||||||
Diluted |
34,417 | 34,539 | 34,489 |
三個月已結束 | ||||||||||||
2024年3月31日 | 2023年12月31日 | 2023年3月31日 | ||||||||||
(以千計,每股數據除外) | ||||||||||||
收入: |
||||||||||||
產品 |
$ | 64,562 | $ | 78,344 | $ | 59,246 | ||||||
服務 |
30,187 | 33,452 | 21,281 | |||||||||
租賃 |
15,548 | 14,548 | 10,338 | |||||||||
總收入 |
110,297 | 126,344 | 90,865 | |||||||||
成本和支出: |
||||||||||||
銷售成本 |
78,419 | 91,687 | 65,502 | |||||||||
銷售、一般和管理 |
29,991 | 29,825 | 22,585 | |||||||||
工程和產品開發 |
3,738 | 2,987 | 3,399 | |||||||||
重組和其他費用 |
- | (130) | 1,718 | |||||||||
出售不動產、廠房和設備的收益 |
(200) | (342) | (6,647) | |||||||||
收購成本 |
19,046 | (41) | - | |||||||||
盈利負債公允價值的變化 |
- | (2,282) | - | |||||||||
外幣交易損失(收益) |
(1,895) | 83 | 1,120 | |||||||||
成本和支出總額 |
129,099 | 121,787 | 87,677 | |||||||||
營業收入(虧損) |
(18,802) | 4,557 | 3,188 | |||||||||
淨利息收入 |
(2,196) | (1,150) | (2,747) | |||||||||
所得稅準備金(福利) |
3,378 | 3,863 | 3,624 | |||||||||
淨收益(虧損) |
$ | (19,984) | $ | 1,844 | $ | 2,311 | ||||||
每股淨收益(虧損) |
||||||||||||
基本 |
$ | (0.58) | $ | 0.05 | $ | 0.07 | ||||||
稀釋 |
$ | (0.58) | $ | 0.05 | $ | 0.07 | ||||||
折舊和攤銷 |
$ | 8,432 | $ | 8,487 | $ | 6,889 | ||||||
資本支出 |
$ | 4,757 | $ | 11,585 | $ | 5,424 | ||||||
加權平均已發行股數 |
||||||||||||
基本 |
34,417 | 34,306 | 34,128 | |||||||||
稀釋 |
34,417 | 34,539 | 34,489 |
Dril-Quip, Inc.
Comparative Condensed Consolidated Balance Sheets
(Unaudited)
Dril-Quip, Inc.
比較簡明合併資產負債表
(未經審計)
March 31, 2024 | December 31, 2023 | |||||||
(In thousands) | ||||||||
Assets: |
||||||||
Cash, cash equivalents, and restricted cash |
$ | 202,300 | $ | 191,400 | ||||
Short-term investments |
4,016 | 25,908 | ||||||
Other current assets |
508,829 | 502,409 | ||||||
PP&E, net |
215,264 | 217,631 | ||||||
Other assets |
90,618 | 90,833 | ||||||
Total assets |
$ | 1,021,027 | $ | 1,028,181 | ||||
Liabilities and Equity: |
||||||||
Current liabilities |
$ | 133,556 | $ | 117,703 | ||||
Deferred income taxes |
10,330 | 10,564 | ||||||
Other long-term liabilities |
19,778 | 18,654 | ||||||
Total liabilities |
163,664 | 146,921 | ||||||
Total stockholders equity |
857,363 | 881,260 | ||||||
Total liabilities and equity |
$ | 1,021,027 | $ | 1,028,181 |
2024年3月31日 | 2023年12月31日 | |||||||
(以千計) | ||||||||
資產: |
||||||||
現金、現金等價物和限制性現金 |
$ | 202,300 | $ | 191,400 | ||||
短期投資 |
4,016 | 25,908 | ||||||
其他流動資產 |
508,829 | 502,409 | ||||||
PP&E,net |
215,264 | 217,631 | ||||||
其他資產 |
90,618 | 90,833 | ||||||
總資產 |
$ | 1,021,027 | $ | 1,028,181 | ||||
負債和權益: |
||||||||
流動負債 |
$ | 133,556 | $ | 117,703 | ||||
遞延所得稅 |
10,330 | 10,564 | ||||||
其他長期負債 |
19,778 | 18,654 | ||||||
負債總額 |
163,664 | 146,921 | ||||||
股東權益總額 |
857,363 | 881,260 | ||||||
負債和權益總額 |
$ | 1,021,027 | $ | 1,028,181 |
Dril-Quip, Inc.
Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss) and Diluted Earnings (Loss) per Share to Adjusted Diluted Earnings (Loss) per Share
Dril-Quip, Inc.
淨收益(虧損)與調整後淨收益(虧損)和攤薄後每股收益(虧損)與調整後的每股攤薄收益(虧損)的對賬
Adjusted Net Income (Loss) and Diluted EPS: |
Three months ended | |||||||||||||||||||||||
March 31, 2024 | December 31, 2023 | March 31, 2023 | ||||||||||||||||||||||
Effect on net income (loss) (after-tax) |
Impact on diluted earnings (loss) per share |
Effect on net income (loss) (after-tax) |
Impact on diluted earnings (loss) per share |
Effect on net income (loss) (after-tax) |
Impact on diluted earnings (loss) per share |
|||||||||||||||||||
(In thousands, except per share amounts) | ||||||||||||||||||||||||
Net income (loss) |
$ | (19,984) | $ | (0.58) | $ | 1,844 | $ | 0.05 | $ | 2,311 | $ | 0.07 | ||||||||||||
Adjustments (after tax): |
||||||||||||||||||||||||
Foreign currency transaction loss |
(1,497) | (0.04) | 66 | - | 885 | 0.03 | ||||||||||||||||||
Restructuring and other charges |
- | - | (103) | - | 1,357 | 0.04 | ||||||||||||||||||
Gain on sale of property, plant and equipment |
(158) | - | (270) | (0.01) | (5,251) | (0.15) | ||||||||||||||||||
Adjusted net income (loss) |
$ | (21,639) | $ | (0.62) | $ | 1,537 | $ | 0.04 | $ | (698) | $ | (0.01) | ||||||||||||
^ | ^ | ^ | ^ | ^ | ||||||||||||||||||||
Weighted Average Shares Outstanding |
34,417 | 34,539 | 34,489 | |||||||||||||||||||||
Tax Rate |
21% | 21% | 21% |
調整後淨收益(虧損)和攤薄後每股收益: |
三個月已結束 | |||||||||||||||||||||||
2024年3月31日 | 2023年12月31日 | 2023年3月31日 | ||||||||||||||||||||||
影響於 淨收益(虧損) (稅後) |
對的影響 稀釋 收益(虧損) 每股 |
影響於 淨收益(虧損) (稅後) |
對的影響 稀釋 收益(虧損) 每股 |
影響於 淨收益(虧損) (稅後) |
對的影響 稀釋 收益(虧損) 每股 |
|||||||||||||||||||
(以千計,每股金額除外) | ||||||||||||||||||||||||
淨收益(虧損) |
$ | (19,984) | $ | (0.58) | $ | 1,844 | $ | 0.05 | $ | 2,311 | $ | 0.07 | ||||||||||||
調整(稅後): |
||||||||||||||||||||||||
外幣交易損失 |
(1,497) | (0.04) | 66 | - | 885 | 0.03 | ||||||||||||||||||
重組和其他費用 |
- | - | (103) | - | 1,357 | 0.04 | ||||||||||||||||||
出售不動產、廠房和設備的收益 |
(158) | - | (270) | (0.01) | (5,251) | (0.15) | ||||||||||||||||||
調整後淨收益(虧損) |
$ | (21,639) | $ | (0.62) | $ | 1,537 | $ | 0.04 | $ | (698) | $ | (0.01) | ||||||||||||
^ | ^ | ^ | ^ | ^ | ||||||||||||||||||||
加權平均已發行股數 |
34,417 | 34,539 | 34,489 | |||||||||||||||||||||
稅率 |
21% | 21% | 21% |
Dril-Quip, Inc.
Reconciliation of Net Income (Loss) to Adjusted EBITDA
Dril-Quip, Inc.
淨收益(虧損)與調整後息稅折舊攤銷前利潤的對賬
Adjusted EBITDA: |
Three months ended | |||||||||||
March 31, 2024 | December 31, 2023 | March 31, 2023 | ||||||||||
(In thousands) | ||||||||||||
Net income (loss) |
$ | (19,984) | $ | 1,844 | 2,311 | |||||||
Add: |
||||||||||||
Interest income, net |
(2,196) | (1,150) | (2,747) | |||||||||
Income tax provision (benefit) |
3,379 | 3,863 | 3,624 | |||||||||
Depreciation and amortization expense |
8,432 | 8,487 | 6,889 | |||||||||
Restructuring and other charges |
- | (130) | 1,718 | |||||||||
Acquisition costs |
19,046 | (41) | - | |||||||||
Change in fair value of earn-out liability |
- | (2,282) | - | |||||||||
Gain on sale of property, plant and equipment |
(200) | (342) | (6,647) | |||||||||
Foreign currency transaction loss |
(1,895) | 83 | 1,120 | |||||||||
Stock compensation expense |
2,788 | 3,173 | 2,577 | |||||||||
Other |
805 | 3,041 | - | |||||||||
Adjusted EBITDA |
$ | 10,175 | $ | 16,546 | $ | 8,845 |
調整後的息稅折舊攤銷前利潤 |
三個月已結束 | |||||||||||
2024年3月31日 | 2023年12月31日 | 2023年3月31日 | ||||||||||
(以千計) | ||||||||||||
淨收益(虧損) |
$ | (19,984) | $ | 1,844 | 2,311 | |||||||
添加: |
||||||||||||
淨利息收入 |
(2,196) | (1,150) | (2,747) | |||||||||
所得稅準備金(福利) |
3,379 | 3,863 | 3,624 | |||||||||
折舊和攤銷費用 |
8,432 | 8,487 | 6,889 | |||||||||
重組和其他費用 |
- | (130) | 1,718 | |||||||||
收購成本 |
19,046 | (41) | - | |||||||||
盈利負債公允價值的變化 |
- | (2,282) | - | |||||||||
出售不動產、廠房和設備的收益 |
(200) | (342) | (6,647) | |||||||||
外幣交易損失 |
(1,895) | 83 | 1,120 | |||||||||
股票補償費用 |
2,788 | 3,173 | 2,577 | |||||||||
其他 |
805 | 3,041 | - | |||||||||
調整後 EBITDA |
$ | 10,175 | $ | 16,546 | $ | 8,845 |
Dril-Quip, Inc.
Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow
Dril-Quip, Inc.
經營活動提供的淨現金與自由現金流的對賬
Free Cash Flow: |
Three months ended | |||||||||||
March 31, 2024 | December 31, 2023 | March 31, 2023 | ||||||||||
(In thousands) | ||||||||||||
Net cash provided by (used in) operating activities |
$ | (4,104) | $ | 26,131 | $ | (52,920) | ||||||
Less: |
||||||||||||
Purchase of property, plant and equipment |
(4,757) | (11,585) | (5,424) | |||||||||
Free cash flow |
$ | (8,861) | $ | 14,546 | $ | (58,344) |
自由現金流: |
三個月已結束 | |||||||||||
2024年3月31日 | 2023年12月31日 | 2023年3月31日 | ||||||||||
(以千計) | ||||||||||||
運營提供的(用於)的淨現金 活動 |
$ | (4,104) | $ | 26,131 | $ | (52,920) | ||||||
減去: |
||||||||||||
購買不動產、廠房和設備 |
(4,757) | (11,585) | (5,424) | |||||||||
自由現金流 |
$ | (8,861) | $ | 14,546 | $ | (58,344) |
SOURCE: Dril-Quip, Inc.
來源:Dril-Quip, Inc.
譯文內容由第三人軟體翻譯。