Published on 1 Nov 2023 on Zacks via Yahoo Finance
Dril-Quip (DRQ) Q3 Earnings Lag Estimates, Revenues Increase Y/Y
Dril-Quip, Inc. DRQ reported a third-quarter 2023 adjusted loss of 15 cents per share, which missed the Zacks Consensus Estimate of earnings of 8 cents. The bottom line also declined from the year-ago quarter’s level of 5 cents.
The company’s registered total quarterly revenues of $117.2 million increased from the year-ago quarter’s figure of $88 million. The figure also beat the Zacks Consensus Estimate of $105 million.
Lower Subsea Services revenues and increasing total costs and expenses led to weak quarterly earnings.