DRQ - Dril-Quip GAAP EPS of -$0.01 revenue of $96.8M beats by $8.3M

• Dril-Quip press release ( NYSE: DRQ ): Q4 GAAP EPS of -$0.01.
• Revenue of $96.8M (+24.3% Y/Y) beats by $8.3M .

• Full Year Highlights

• Revenue of $362.1 increased 12% year-over-yearNet Bookings of $271.6 million increased 19% year-over-year

• Signed $122.0 million of master service agreements (MSAs) in 2022

• Net Income of $0.4 million increased $128.4 million year-over-year

• Adjusted EBITDA of $30.0 million increased 97% year-over-year

• Gross Margin of 27% increased 160 basis points year-over-year

• Repurchased $20.8 million of shares during the year at an average price of $23.41 per share

• 2023 Financial Outlook

• Revenue growth of 10%

• Bookings year-over-year growth of 10% to 20%

• Adjusted EBITDA incremental margins of 40% to 60%

• Capital Expenditures of $25 million to $30 million

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