Business
Drilling Tools International Corp. Updates Estimated 2024 Full Year Financial Outlook
Drilling Tools International Corp., (NASDAQ: DTI) ("DTI" or the "Company"), a global oilfield services company that designs, engineers, manufactures and provides a differentiated, rental-focused offering of tools for use in onshore and offshore horizontal and directional drilling operations, as well as other cutting-edge solutions across the well life cycle, today updated its estimated 2024 full year financial outlook.
About this update from Drilling Tools International Corporation
[{"type":"text","content":"Announces Fourth Quarter and Full Year 2024 Earnings Release and Conference Call Schedule","length":89,"tagName":"p","attribs":{}},{"type":"text","content":"HOUSTON, Feb. 20, 2025 /PRNewswire/ -- Drilling Tools International Corp., (NASDAQ: DTI) ("DTI" or the "Company"), a global oilfield services company that designs, engineers, manufactures and provides a differentiated, rental-focused offering of tools for use in onshore and offshore horizontal and directional drilling operations, as well as other cutting-edge solutions across the well life cycle, today updated its estimated 2024 full year financial outlook.","length":481,"tagName":"p"},{"type":"text","content":"Updated Full Year 2024 Financial Outlook","length":40,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"2024 Revenue to be at the high-end of previously disclosed guidance","length":67,"tagName":"p"}]},{"val":[{"type":"text","content":"2024 Adjusted EBITDA to be near the midpoint of previously disclosed guidance","length":77,"tagName":"p"}]},{"val":[{"type":"text","content":"2024 Adjusted Net Income to be above the high-end of previously disclosed guidance","length":82,"tagName":"p"}]},{"val":[{"type":"text","content":"2024 Adjusted Free Cash Flow to be more than double the prior year period","length":73,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":299,"olType":false},{"type":"text","content":"Commenting on the Company's updated 2024 financial outlook, Wayne Prejean, DTI's Chief Executive Officer, stated, "I am pleased with the strong execution by our teams in the fourth quarter to close out 2024 despite a challenging demand environment in our industry. We continue to have success in integrating our latest acquisitions, realizing synergies and positioning DTI for the future. Although industry expectations are for a flat market environment this year, we anticipate building upon our 2024 results and activities."","length":544,"tagName":"p"},{"type":"text","content":"Fourth Quarter and Full Year 2024 Earnings Release and Conference Call Schedule","length":79,"tagName":"p"},{"type":"text","content":"The Company plans to report 2024 fourth quarter and full year financial results prior to the Company's live conference call, which can be accessed via dial-in or webcast, on Friday, March 14, 202...