2018 Press Releases

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10/25/18Dril-Quip, Inc. Announces Third Quarter 2018 Results
Generated $93.3 million of revenue, above the high end of guidance range of $80 - $90 million Reported a net loss of $10.4 million, or $0.28 loss per diluted share, including restructuring costs of $3.7 million Incurred an adjusted net loss of $7.4 million excluding restructuring costs, or $0.20 loss per diluted share Generated net cash provided by operating activities of $9.1 million Reported cash on hand of $424.1 million as of September 30, 2018 Completed $100 million share rep... 
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10/18/18Dril-Quip Enters Into FEED Contract and Frame Agreement for Sea Lion Project Subsea Production Systems
HOUSTON, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Dril-Quip, Inc. (NYSE: DRQ) today announced that Dril-Quip (Europe) Limited, its wholly-owned subsidiary based in Aberdeen, Scotland, has entered into a Front End Engineering and Design (FEED) Contract and Frame Agreement with Premier Oil Exploration and Production Limited to provide the subsea production systems for the Sea Lion Phase 1 Development located offshore the Falkland Islands.  The Frame Agreement replaces the previously announced letter of... 
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08/29/18Dril-Quip, Inc. To Present at Barclays CEO Energy–Power Conference
HOUSTON, Aug. 29, 2018 (GLOBE NEWSWIRE) -- Dril-Quip, Inc. (NYSE: DRQ) (the “Company”) today announced that Blake T. DeBerry, President and Chief Executive Officer, will deliver a presentation at the Barclays CEO Energy–Power Conference at the Sheraton New York Times Square Hotel in New York, NY on Wednesday, September 5, 2018.  His remarks are scheduled to begin at 2:25 p.m. EDT. Interested parties may view the presentation slides as well as listen to a live webcast of the presentation on ... 
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07/26/18Dril-Quip, Inc. Announces Second Quarter 2018 Results
Generated $94.9 million of revenue, a quarter-on-quarter decrease of 4% and consistent with general guidance Reported a net loss of $3.0 million, or $0.08 loss per diluted share, including gains of $0.16 per share Incurred an adjusted net loss of $8.8 million excluding gains, or $0.24 loss per diluted share Generated net cash provided by operating activities of $12.1 million Reported cash on hand of $493.4 million as of June 30, 2018 Completed $9.8 million in common stock repurc... 
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07/13/18Dril-Quip Enters Into Letter of Intent for Subsea Production Systems for Sea Lion Project
HOUSTON, July 13, 2018 (GLOBE NEWSWIRE) -- Dril-Quip, Inc. (NYSE:DRQ) today announced that Dril-Quip (Europe) Limited, its wholly-owned subsidiary based in Aberdeen, Scotland, has entered into a letter of intent with Premier Oil Exploration and Production Limited to provide subsea production systems for the Sea Lion Phase 1 Development located offshore the Falkland Islands.  The scope of work includes plans for 23 subsea production systems, including wellheads, trees, control systems, assoc... 
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05/01/18Dril-Quip Wins Spotlight on New Technology Award for Hands-Free Drilling Riser System
HOUSTON, May 01, 2018 (GLOBE NEWSWIRE) -- Dril-Quip, Inc. (NYSE:DRQ) was presented with a Spotlight on New Technology Award at the 2018 Offshore Technology Conference (OTC) in Houston on April 30, 2018 for its HFRe™ hands-free drilling riser system.  The Spotlight on New Technology Awards showcase new and advanced technologies that are leading the industry into the future. The HFRe™ drilling riser is an automated system designed for high pressure, high temperature (HPHT) environments.  HFRe... 
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04/26/18Dril-Quip, Inc. Announces First Quarter 2018 Results
Generated $99.2 million of revenue, a quarter-on-quarter decrease of 8% and consistent with general guidance Continued strong gross margin performance Reported a net loss of $7.4 million, or $0.20 loss per diluted share, including charges of $0.04 per share Adjusted loss per diluted share, excluding charges, was $0.16 Generated net cash provided by operating activities of $11.4 million  Grew cash on hand to $495.6 million as of March 31, 2018 Maintained clean balan... 
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03/21/18Dril-Quip, Inc. To Present At Scotia Howard Weil Energy Conference
HOUSTON, March 21, 2018 (GLOBE NEWSWIRE) -- Dril-Quip, Inc. (NYSE:DRQ) (the “Company”) today announced that Blake T. DeBerry, President and Chief Executive Officer will deliver a presentation at the 46th Annual Scotia Howard Weil Energy Conference at The Roosevelt New Orleans Hotel on Tuesday, March 27, 2017.  His remarks are scheduled to begin at 3:20 p.m. CDT. The Company’s presentation will be available beginning at the time of the presentation on the Company's website at www.dril-quip.c... 
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03/15/18Dril-Quip Announces Retirement of Jerry M. Brooks
HOUSTON, March 15, 2018 (GLOBE NEWSWIRE) -- Dril-Quip, Inc. (NYSE:DRQ) today announced that Jerry M. Brooks will retire effective March 30, 2018.  Mr. Brooks, 66, began his tenure at Dril-Quip as the Company’s Chief Accounting Officer in February 1992 before assuming the position of Chief Financial Officer in 1999.  He was named Vice President – Finance and Chief Financial Officer in 2007.  Mr. Brooks served in that position until he transitioned into his current role as Vice President of Inve... 
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02/27/18Dril-Quip, Inc. Announces Results for Fourth Quarter 2017
Generated $108.0 million of revenue, a quarter-on-quarter increase of 8% and consistent with general guidance Continued strong gross margin performance Reported a Net Loss of $71.5 million, or $1.90 loss per diluted share, including non-cash charges of $1.91 per diluted share primarily related to the Tax Cuts and Jobs Act, as described below Adjusted Diluted EPS, excluding charges, was $0.01 per share Generated $33.3 million of Net Cash Provided by Operating Activities Grew cash o... 
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02/22/18Dril-Quip Awarded Contract for Repsol’s Ca Rong Do Project
HOUSTON , Feb. 22, 2018 (GLOBE NEWSWIRE) -- Dril-Quip, Inc. (NYSE:DRQ) today announced that Dril-Quip Asia Pacific Pte Ltd, its wholly-owned subsidiary based in Singapore, has been awarded a contract to supply top tensioned riser (TTR) systems and related services for the development of  the Ca Rong Do Project located offshore Vietnam operated by Repsol with the participation of Mubadala, PVEP and PetroVietnam.  Dril-Quip will provide a drilling TTR system and multiple TTR systems for the p... 
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