Drilling Tools International Corp. ( (DTI) ) has released its Q4 earnings. Here is a breakdown of the information Drilling Tools International Corp. presented to its investors.
Drilling Tools International Corp. (DTI) is a Houston-based oilfield services company specializing in the design, engineering, and rental of tools for horizontal and directional drilling operations, serving both onshore and offshore markets globally.
In its latest earnings report, DTI announced a total consolidated revenue of $154.4 million for 2024, with tool rental revenue contributing $117.9 million and product sales generating $36.5 million. The company reported a net income of $3.0 million and an adjusted net income of $10.1 million for the year.
Key financial highlights include an adjusted EBITDA of $40.1 million and an adjusted free cash flow of $17.2 million. Despite a challenging demand environment, DTI’s acquisition growth strategy has shown significant results, with the company actively integrating around specific products and positioning itself for future growth. The company also reported a net loss of $1.3 million for the fourth quarter, with adjusted net income at $0.6 million.
Looking ahead, DTI anticipates continued growth in 2025, projecting consolidated revenue between $163 million and $183 million, with adjusted EBITDA expected to range from $40 million to $50 million. The company aims to significantly increase its international revenue and continues to explore additional acquisition opportunities to enhance its scale and technological capabilities.