Overview

• Oilfield services firm's Q4 revenue up 14% sequentially to $274 mln

• Adjusted EBITDA rose sequentially and from a year ago

• Company highlighted strong free cash flow and subsea product deliveries

Outlook

• Innovex expects Q1 2026 revenue between $225 mln and $235 mln

• Company anticipates Q1 2026 Adjusted EBITDA of $38 mln to $42 mln

• Innovex plans to improve subsea margins by year-end 2026

Result Drivers

• SUBSEA DELIVERIES - Higher-than-expected subsea product deliveries contributed to revenue growth, according to CEO Adam Anderson

• ACQUISITION SYNERGIES - Revenue synergies from DWS and Citadel acquisitions boosted Q4 results, per CEO Adam Anderson

• XPak TECHNOLOGY - Deployment of XPak technology in Brazil and onshore supported revenue growth, according to CEO Adam Anderson

Company press release: ID:nBw2KbRmBa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the oil related services and equipment peer group is "buy."

• Wall Street's median 12-month price target for Innovex International Inc is $27.00, about 6% above its February 20 closing price of $25.47

• The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)