Innovex International (INVX) said late Friday it will offload its Dril-Quip Eldridge campus in Houston to BIG Acquisitions for $95 million.
The divestment is expected to be completed in Q3, the company said.
Innovex added that the sale will bolster its balance sheet, lower overheads, and support capital deployment towards its "M&A pipeline" and share repurchase program.
The company expects Q1 revenue at roughly $240 million, below its prior guidance of $245 million to $255 million. One analyst polled by FactSet expects $247.7 million.
Shares were down 1.7% in after-hours trading.
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