Dril-Quip (DRQ) Q1 Earnings Decline Y/Y on Increased Costs

Dril-Quip, Inc. (DRQ) reported a first-quarter 2024 adjusted loss of 62 cents per share, which is wider than the year-ago quarter’s loss of 1 cents.The company’s total quarterly revenues of $110.3 million increased from the year-ago quarter’s $90.9 million. In comparison to the first quarter of 2023, the rise was primarily fueled by the inclusion of Great North, contributing $25.1 million in the quarter. This was partly counterbalanced by decreased Subsea Product sales.Significant increases in total costs a ...