Superior Drilling jumps on Q3 profit vs year-ago loss

Superior Drilling Products

11/11/2022 13:34

** Shares of energy services company Superior Drilling
Products Inc  SDPI.A  rise as much as 20% to 93 cents premarket
    ** Shares will open at their highest in more than two
months, if gains hold
    ** Co posts Q3 net income of $638,731 compared to a loss of
$6,210 last year, helped by increasing demand for its tools and
services
    ** Posts Q3 adj. EBITDA of $1.5 mln, says it's their highest
in more than four years
    ** Co expects FY adj. EBITDA between $4.0 mln and $5.0 mln
compared with analysts' expectations of $4.6 mln 
    ** Shares up 6.1% YTD, as of last close
 (Reporting by Ankit Kumar in Bengaluru)
 ((Ankit.Kumar2@thomsonreuters.com))