Overview
Innovex Q3 revenue of $240 mln beats analyst expectations, up 7% quarter-over-quarter
Adjusted EBITDA for Q3 beats estimates, reflecting operational efficiency
Company closed sale of Eldridge facility, strengthening cash position
Outlook
Innovex expects Q4 2025 revenue between $235 mln and $245 mln
Company forecasts Q4 2025 adjusted EBITDA of $42 mln to $47 mln
Innovex plans to exit Eldridge facility by year-end, improving 2026 results
Result Drivers
MARKET SHARE GAINS - Innovex increased its market share in the U.S. Land market, outperforming flat US land activity
SUBSEA TRANSFORMATION - Progress in subsea product line transformation with improved on-time delivery and facility sale
NEW PARTNERSHIP - Innovex signed an agreement to become the exclusive subsea wellhead provider for OneSubsea
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $240 mln | $217 mln (1 Analyst) |
Q3 EPS | $0.57 | ||
Q3 Net Income | $39.22 mln | ||
Q3 Adjusted EBITDA | Beat | $43.61 mln | $43.02 mln (1 Analyst) |
Q3 Capex | $12 mln | ||
Q3 Operating income | $62.28 mln |
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 $20.00, about 0.4% below its October 31 closing price of $20.07
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago
Press Release: ID:nBwc8jQxxa
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(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.)