Drilling Tools International (NASDAQ:DTI) Releases Earnings Results, Misses Estimates By $0.06 EPS

Key Points

• Drilling Tools International reported an earnings per share (EPS) of ($0.02) for the quarter, missing analysts' estimates by ($0.06).
• The company's stock price declined 4.0% to $1.92 following the earnings announcement.
• Drilling Tools International has initiated a $10 million share buyback program, allowing repurchase of up to 10.2% of its stock, indicating a belief that its shares are undervalued.

Drilling Tools International (NASDAQ:DTI - Get Free Report) announced its earnings results on Wednesday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.06), Zacks reports. Drilling Tools International had a positive return on equity of 7.79% and a negative net margin of 1.11%. Drilling Tools International updated its FY 2025 guidance to EPS.

Drilling Tools International Stock Down 4.0%

Drilling Tools International stock traded down $0.08 during midday trading on Wednesday, hitting $1.92. 60,577 shares of the company were exchanged, compared to its average volume of 71,732. The company's fifty day moving average price is $2.67 and its 200-day moving average price is $2.62. The company has a market cap of $68.33 million, a PE ratio of -38.39, a price-to-earnings-growth ratio of 2.98 and a beta of -0.41. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.94 and a quick ratio of 1.41. Drilling Tools International has a fifty-two week low of $1.43 and a fifty-two week high of $4.47.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Drilling Tools International from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Drilling Tools International announced that its Board of Directors has initiated a share buyback program on Tuesday, May 13th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to buy up to 10.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

About Drilling Tools International

Drilling Tools International Corporation provides oilfield equipment and services to oil and natural gas sectors in North America, Europe, and the Middle East. It offers downhole tool rentals, machining, and inspection services to support the global drilling and wellbore construction industry. The company also provides products are bottom hole assembly components, such as stabilizers, subs, non-magnetic and steel drill collars, hole openers, and roller reamers, as well as drill pipe and drill pipe accessories; ancillary equipment and handling tools to support its rental platform, including float valves, ring gauges, tool baskets, lift bail, lift subs, mud magnets, elevators, bracket and bail assemblies, slips, tongs, stabbing guides and safety clamps; and blowout preventers, and pressure control accessory equipment.

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