Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Dril-Quip, Inc. due to allegations of materially misleading business information issued by the company [1]. Group 1: Company Disclosure - On July 8, 2024, Dril-Quip filed a current report with the SEC, revealing an error in the classification of inventory write-downs from 2021, which resulted in an understatement of "Cost of sales" and an overstatement of "Restructuring and other charges" by $67 million for the fiscal year ended December 31, 2021 [3]. - The Audit Committee concluded that the consolidated financial statements for the affected period should no longer be relied upon due to the aforementioned error, affecting all previously issued reports and communications [3]. - Dril-Quip's management stated that the company's disclosure controls and procedures as of December 31, 2023, were ineffective and that restated consolidated financial statements for the affected period would be filed [3]. Group 2: Market Reaction - Following the disclosure of the errors, Dril-Quip's stock price fell by 9.9% on July 9, 2024 [3]. Group 3: Legal Action - Shareholders who purchased Dril-Quip securities may be entitled to compensation through a class action lawsuit being prepared by Rosen Law Firm, which operates on a contingency fee basis [2].

Dril-Quip Inc (DRQ) reported a second-quarter 2024 adjusted earnings of 10 cents per share against a year-ago quarter loss of 3 cents. The company's total quarterly revenues of $120.3 million increased from the year-ago quarter's $89.6 million. The strong quarterly results were owing to contributions from Subsea Products and Well Construction business activities. Q2 Performance Dril-Quip reported that in the June quarter, it booked Subsea Products orders of $54.1 million, reflecting a sequential rise of 25% ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |-----------------------------------------------------------------------------|-------------------------------------------| | | | | Commission file number 001-13439 | | | DRIL- ...

Exhibit 99.1 DRIL-QUIP, INC. ANNOUNCES SECOND QUARTER 2024 RESULTS HOUSTON, August 1, 2024 — Dril-Quip, Inc. (NYSE: DRQ), (the "Company" or "Dril-Quip"), a developer, manufacturer and provider of highly engineered equipment, service, and innovative technologies for use in the energy industry, today reported operational and financial results for the three months ended June 30, 2024. Second Quarter Highlights • Revenue of $120.3 million, an increase of 9.1% sequentially and 34.3% year-over-year • Subsea Produ ...

NEW YORK, July 20, 2024 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Dril-Quip, Inc. (NYSE: DRQ) resulting from allegations that Dril-Quip, Inc. may have issued materially misleading business information to the investing public. So What: If you purchased Dril-Quip securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. Th ...

What's Next? Why Bronstein, Gewirtz & Grossman Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Nathan Miller 332-239-2660 | info@bgandg.com NEW YORK, July 18, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Dril-Quip, Inc. ("Dril-Quip" or "the Company") (NYSE: DRQ). Investors who purchased Dril-Quip securities are encouraged to obtain additional information and assist the investigation by visiting the fir ...

NEW YORK, July 16, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Dril-Quip, Inc. (NYSE: DRQ) resulting from allegations that Dril-Quip, Inc. may have issued materially misleading business information to the investing public. WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/? case_id=27144 or call Phillip Kim, Esq. toll-free at 866-767-3653 o ...

NEW YORK, July 15, 2024 /PRNewswire/ -- What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=27144 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. Further, Dril-Quip disclosed that "after considering the recommendations of management and discussion with the Company's independent registered public accounting firm[,] the Audit Committee of our board of directors ("Audit Committee") concluded ...

NEW YORK, July 12, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Dril-Quip, Inc. ("Dril-Quip" or the "Company") (NYSE: DRQ) on behalf of Dril-Quip stockholders. Our investigation concerns whether Dril-Quip has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. On July 8, 2024, Dril-Quip disclosed in a filing with the U.S. Secur ...

NEW YORK, July 10, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Dril-Quip, Inc. ("Dril-Quip" or the "Company") (NYSE: DRQ). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether Dril-Quip and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On July 8, 2024, Dril-Qu ...