Drilling Tools updates FY24 revenue to be at high-end of previous guidance

Updated Full Year 2024 Financial Outlook: 2024 Adjusted EBITDA to be near the midpoint of previously disclosed guidance; 2024 Adjusted Net Income to be above the high-end of previously disclosed guidance; 2024 Adjusted Free Cash Flow to be more than double the prior year period. 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.”