Drilling Tools International (NASDAQ:DTI) Posts Earnings Results, Misses Estimates By $0.02 EPS

Drilling Tools International (NASDAQ:DTI) announced its quarterly earnings results on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02), Zacks reports. Drilling Tools International had a net margin of 5.46% and a return on equity of 15.38%. Drilling Tools International updated its FY 2025 guidance to EPS.

Drilling Tools International Trading Up 5.0%

Shares of NASDAQ:DTI opened at $2.75 on Wednesday. Drilling Tools International has a 12-month low of $1.43 and a 12-month high of $6.36. The business’s fifty day simple moving average is $2.28 and its 200-day simple moving average is $2.96. The company has a market capitalization of $97.88 million, a PE ratio of 9.82, a P/E/G ratio of 0.90 and a beta of -0.64. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 0.15.

Drilling Tools International declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 13th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is 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.