Oilfield services firm Innovex Q3 revenue beats expectations

Innovex International

03/11/2025 21:40

Overview

Innovex Q3 revenue of $240 mln beats analyst expectations, up 7% quarter-over-quarter

Adjusted EBITDA for Q3 beats estimates, reflecting operational efficiency

Company closed sale of Eldridge facility, strengthening cash position

Outlook

Innovex expects Q4 2025 revenue between $235 mln and $245 mln

Company forecasts Q4 2025 adjusted EBITDA of $42 mln to $47 mln

Innovex plans to exit Eldridge facility by year-end, improving 2026 results

Result Drivers

MARKET SHARE GAINS - Innovex increased its market share in the U.S. Land market, outperforming flat US land activity

SUBSEA TRANSFORMATION - Progress in subsea product line transformation with improved on-time delivery and facility sale

NEW PARTNERSHIP - Innovex signed an agreement to become the exclusive subsea wellhead provider for OneSubsea

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$240 mln
$217 mln (1 Analyst)
Q3 EPS
$0.57
Q3 Net Income
$39.22 mln
Q3 Adjusted EBITDA
Beat
$43.61 mln
$43.02 mln (1 Analyst)
Q3 Capex
$12 mln
Q3 Operating income
$62.28 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 $20.00, about 0.4% below its October 31 closing price of $20.07

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nBwc8jQxxa

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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.)