Dril-Quip Q2 EPS $(0.05) Misses $0.22 Estimate, Sales $120.34M Miss $121.00M Estimate
Portfolio Pulse from Benzinga Newsdesk
Dril-Quip (NYSE:DRQ) reported Q2 earnings per share (EPS) of $(0.05), missing the analyst estimate of $0.22 by 122.73%. Sales were $120.34M, slightly below the $121.00M estimate but up 34.30% year-over-year.
August 01, 2024 | 8:58 pm
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NEGATIVE IMPACT
Dril-Quip reported Q2 EPS of $(0.05), missing the $0.22 estimate by a significant margin. Sales were $120.34M, slightly below the $121.00M estimate but up 34.30% year-over-year.
The significant miss on EPS compared to analyst estimates is likely to negatively impact the stock price in the short term. Although sales increased year-over-year, they still fell short of expectations, adding to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100