INVX
Innovex International, Inc.21.69
-1.08-4.74%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Margins detailed; subsea bookings rebound
Q&A clarified Q1 margin headwinds from low-margin subsea deliveries—including a post-merger bid too optimistic on costs—and Eldridge exit delayed to Q2, but executives reaffirmed the 25% long-term target with back-half 2026 improvement. Cross-selling from DWS and Citadel delivered U.S. land pull-through and Middle East trials in Oman, UAE, Saudi. Subsea bookings dipped in 2025 versus 2024 yet Q4/Q1 wins point to 2026 growth; on-time delivery hit 80%. M&A pipeline hums with U.S. add-ons. Management dodged full-year numbers. Confident tone on subsea recovery—what investors track next.
Key Stats
Market Cap
1.50BP/E (TTM)
33.89Basic EPS (TTM)
0.64Dividend Yield
0%Recent Filings
8-K
Jury awards $47.6M vs Innovex sub
A Texas jury hit Innovex's Downhole Well Solutions subsidiary with a $47.6 million patent infringement verdict on March 5, 2026, over friction reduction tools for directional drilling, deeming two remaining patents valid and willfully infringed. Innovex strongly disputes the ruling and plans post-trial motions plus a Federal Circuit appeal. No judgment entered yet. Damages may adjust.
8-K
Stockholders sell; Innovex repurchases
Innovex International's selling stockholders offloaded 6,612,500 shares at $25.75 via J.P. Morgan underwriters on February 27, 2026, while the company repurchased 575,000 shares for $14.1 million under its program, leaving $76.6 million available. No proceeds flowed to Innovex. Board independents greenlit the buyback.
10-K
FY2025 results
Innovex International crushed FY2025 with revenues soaring 48% to $978M, fueled by the Dril-Quip merger and acquisitions of DWS, SCF, and Citadel, while NAM revenue hit $511M (up sharply) and International/Offshore reached $467M. Operating income jumped 170% to $133M (14% margin), Adjusted EBITDA climbed 36% to $188M, and free cash flow doubled to $156M—Q4 gains on the Eldridge sale and subsea divestiture boosted momentum. Strong cash ($203M) and $138M revolver availability back $91M remaining buyback capacity. Oil price drops threaten drilling activity.
8-K
Q4 revenue up 14%
Innovex reported Q4 2025 revenue of $274 million, up 14% from Q3, with net income of $14 million and Adjusted EBITDA of $52 million at 19% margin. Free cash flow hit $43 million in the quarter and $156 million for the year, ending with $203 million cash and no bank debt. Subsea deliveries boosted results but pressured margins. Q1 2026 guidance: $225-235 million revenue, $38-42 million Adjusted EBITDA.
8-K
Director Lockhart resigns
Innovex International director Carri Lockhart, Nominating and Governance Committee chair and Audit Committee member, resigned effective March 2, 2026, after notifying the board on November 5, 2025. No disagreements with company operations, policies, or practices triggered the move. Board loses key governance voice.
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