Core Viewpoint - Drilling Tools International Corp. (DTI) has updated its financial outlook for the full year 2024, indicating strong performance despite a challenging market environment in the oilfield services industry [2][6]. Financial Outlook - The company expects 2024 revenue to be at the high end of previously disclosed guidance [6]. - Adjusted EBITDA for 2024 is anticipated to be near the midpoint of previously disclosed guidance [6]. - Adjusted Net Income for 2024 is projected to be above the high end of previously disclosed guidance [6]. - Adjusted Free Cash Flow for 2024 is expected to be more than double compared to the prior year period [6]. Company Operations - DTI specializes in designing, engineering, manufacturing, and renting tools for horizontal and directional drilling operations [1][4]. - The company has successfully integrated its latest acquisitions and is realizing synergies to position itself for future growth [2]. - DTI operates 16 service and support centers across North America and maintains 11 international service and support centers in the EMEA and APAC regions [4]. Upcoming Events - DTI plans to report its fourth quarter and full year 2024 financial results on March 14, 2025, at 10:00 a.m. Eastern Time [3][7]. - The conference call will be accessible via dial-in or webcast, with a replay available until March 21, 2025 [3].
Drilling Tools International Corp. Updates Estimated 2024 Full Year Financial Outlook