Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (MARK ONE) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-13439 DRIL-QUIP, INC. (Exact name of registrant as specified in its charter) | Delaware | 74-2162088 | | --- | -- ...

Financial Data and Key Metrics Changes - The results for Q3 2022 did not meet expectations, with incoming order trends at $75 million, at the high end of the expected range of $60 million to $80 million [6] - The income bookings number was impacted by an uncommon cancellation of $12 million, which is rare for the company [6][24] - The company expects Q4 bookings to exceed Q3 bookings, with a range of $75 million to $100 million anticipated [17][23] Business Line Data and Key Metrics Changes - The company reported that 20% of orders in Q3 were related to Saudi Arabia, indicating a strong market presence [12][15] - The downhole tool business is expected to reach a run rate of $25 million per quarter by late 2023 or early 2024 [33][34] - The combined service and leasing margins saw a decrease in Q3, attributed to the completion of distinct projects [29][30] Market Data and Key Metrics Changes - Leading indicators such as tender volume and average quote value have recovered to pre-pandemic levels, suggesting a constructive offshore market [7][27] - The company is focusing on key markets including Saudi Arabia, Brazil, and Latin America, with significant investments planned [12][14] Company Strategy and Development Direction - The company is looking to capitalize on the offshore market recovery and is optimistic about growth in key regions [7][27] - There is an increased interest in inorganic growth through M&A, with a focus on acquiring companies that align with Dril-Quip's specialized product offerings [42][44] - The company aims to achieve a gross margin target of 35% by 2024, with ongoing investments in manufacturing and operational efficiencies [60][61] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about energy security and systematic underinvestment in the industry, which could lead to increased activity [8] - The company is preparing for potential economic downturns by maintaining capital discipline and adjusting to lower oil price expectations [8] - Management noted that customer behavior is shifting towards more resilient investments, with a focus on maintaining inventory levels [10] Other Important Information - The company has received an A rating on its ESG efforts, reflecting improvements in carbon reduction programs [54][55] - The impact of foreign exchange fluctuations was noted, with a $2 million loss in Q3 due to currency movements [22] Q&A Session Summary Question: Broader market outlook and customer sentiment - Management noted that customers are optimistic about energy security and systematic underinvestment, which could lead to increased activity in the coming years [8] Question: Changes in customer behavior - Management observed that customers are becoming more confident and are shifting towards more call-off orders rather than large tenders [10] Question: Update on Petrobras orders - The company has a Master Service Agreement with Petrobras for 87 subsea wellhead systems, with expectations for further tenders in the near future [11] Question: Competitive landscape and M&A interest - Management indicated a focus on both large transformative deals and smaller bolt-on acquisitions, emphasizing the need for scale [42][44] Question: Inflationary pressures and mitigation strategies - Management acknowledged inflation impacts on raw materials and services but noted that they have been able to pass some costs onto customers [18][19] Question: Free cash flow outlook - The company expects to be breakeven on free cash flow for the year, with strategic investments in inventory and machinery impacting current cash flow [36] Question: Seasonal trends in bookings - Management indicated that Q4 typically sees the highest level of bookings as customers exhaust their CapEx plans [39]

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 September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-13439 DRIL-QUIP, INC. (Exact name of registrant as specified in its charter) DELAWARE 74-2162088 (State or other jurisdiction of incorporation or organization ...

Dril-Quip, Inc. (NYSE:DRQ) Q2 2022 Earnings Conference Call July 29, 2022 10:00 AM ET Company Participants Erin Fazio - Director, Corporate Development, IR & FP&A Jeff Bird - President and CEO Kyle McClure - Vice President and CFO Conference Call Participants Dave Anderson - Barclays Operator Good day, ladies and gentlemen, and thank you for standing by. Welcome to the Dril-Quip Second Quarter 2022 Fireside Chat. [Operator Instructions] At this time, I would like to turn the call over to Ms. Erin Fazio, Dir ...

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, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-13439 DRIL-QUIP, INC. (Exact name of registrant as specified in its charter) DELAWARE 74-2162088 (State or other jurisdiction of incorporation or organization) (I. ...

Dril-Quip, Inc. (NYSE:DRQ) Q1 2022 Earnings Conference Call April 29, 2022 11:00 AM ET Company Participants Jeff Bird - CEO Kyle McClure - CFO Conference Call Participants Tom Curran - Seaport Research Partners Operator Good day and thank you for standing by. Welcome to the Dril-Quip First Quarter 2022 Fireside Chat. I would now like to hand the conference over to your speaker today, Mr. Tom Curran from Seaport Research Partners. Sir, please go ahead. Tom Curran Thank you. Greetings, everyone. Welcome to Dr ...

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 March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-13439 DRIL-QUIP, INC. (Exact name of registrant as specified in its charter) DELAWARE 74-2162088 (State or other jurisdiction of incorporation or organization) (I ...

Dril-Quip, Inc. (NYSE:DRQ) Q4 2021 Earnings Conference Call February 24, 2022 10:00 AM ET Company Participants Blake Holcomb - Director, Investor Relations and Corporate Planning Jeff Bird - President and Chief Executive Officer Kyle McClure - Vice President and Chief Financial Officer Conference Call Participants Taylor Zurcher - Tudor, Pickering, Holt Operator Welcome to the Dril-Quip Q4 and Full Year 2021 Earnings Call. My name is Daryl and I will be your operator for today’s call. [Operator Instructions ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (MARK ONE) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-13439 DRIL-QUIP, INC. (Exact name of registrant as specified in its charter) Delaware 74-2162088 (State or other ...

Dril-Quip, Inc. (NYSE:DRQ) Q3 2021 Earnings Conference Call October 29, 2021 11:00 AM ET Company Participants Blake DeBerry – President and Chief Executive Officer Jeff Bird – President and Chief Operating Officer Conference Call Participants James West – Evercore ISI Operator Good day. Thank you for standing by, and welcome to the Dril-Quip Q3 2021 Fireside Chat Conference Call. I would now like to hand the conference over to your speaker today, Mr. James West with Evercore ISI. The floor is yours. James W ...