Dril-Quip Q1 Adj $(0.62) Misses $0.09 Estimate, Sales $110.30M Beat $106.00M Estimate
Portfolio Pulse from Benzinga Newsdesk
Dril-Quip reported Q1 adjusted losses of $(0.62) per share, missing the consensus estimate of $0.09 by 788.89%, and a 6100% decrease from last year's $(0.01) per share. However, their quarterly sales of $110.30M exceeded estimates by 4.05%, marking a 21.39% increase from the previous year.
May 02, 2024 | 8:56 pm
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NEUTRAL IMPACT
Dril-Quip's Q1 earnings report showed a significant miss on EPS estimates but exceeded sales forecasts, indicating mixed financial health.
The significant miss in EPS could negatively impact investor sentiment and stock price in the short term. However, the beat on sales forecasts and year-over-year sales growth might offset some of the negative impact, leading to a neutral short-term price direction.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100