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Jeff Bird, Dril-Quip’s President and Chief Executive Officer, commented, “Gross bookings in the quarter were $75.0 million reflecting the ongoing upcycle in the offshore market, but we were negatively impacted by a large project cancellation in the period

Dril-Quip, Inc. Announces Third Quarter 2022 Results

Dril-Quip, Inc. (NYSE: DRQ), (the “Company” or “Dril-Quip”) today reported operational and financial results for the third quarter of 2022

By Dril-Quip, Inc.
Published - Oct 27, 2022, 04:16 PM ET
Last Updated - Jul 19, 2024, 05:09 AM EDT

HOUSTON, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Dril-Quip, Inc. (NYSE: DRQ), (the “Company” or “Dril-Quip”) today reported operational and financial results for the third quarter of 2022.

Results for the third quarter of 2022 included:

  • Revenue of $88.1 million for the third quarter of 2022, a decrease of $5.8 million from the second quarter of 2022 driven by unfavorable foreign exchange rate impacts, supply chain delays in downhole tools and reduced leasing revenues in subsea service;
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