Published on 28 Feb 2024 on Zacks via Yahoo Finance
Dril-Quip's (DRQ) Q4 Earnings Miss Estimates on Higher Costs
Dril-Quip, Inc. DRQ reported fourth-quarter 2023 adjusted earnings of 4 cents per share, which missed the Zacks Consensus Estimate of 11 cents. The bottom line also declined from the year-ago quarter’s 6 cents.
The company’s total quarterly revenues of $126 million increased from the year-ago quarter’s figure of $97 million. The figure, however, missed the Zacks Consensus Estimate of $136 million.
Significant rise in total costs and expenses led to weak quarterly earnings.