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
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | $273.60 mln | ||
Q4 EPS | $0.20 | ||
Q4 Net Income | $13.97 mln | ||
Q4 Adjusted EBITDA | Beat | $52.11 mln | $43.60 mln (1 Analyst) |
Q4 Capex | $9 mln | ||
Q4 Operating income | $25.80 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 $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
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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.)