Superior Drilling reports Q1 EPS 11c vs. 29c last year

Reports Q1 revenue $37M vs. $40.8M last year. Wayne Prejean, CEO, stated, “We are pleased to report Q1 results that were in line with our expectations despite the current competitive and flat rig count environment. Highlights for the first quarter included entering into a definitive agreement to acquire Superior Drilling Products; the closing of our Deep Casing Tools acquisition; and boosting our balance sheet by securing a new $25M Term Loan, which was fully drawn as of March 31, 2024, and amending and extending our ABL Credit Facility. We are very excited about our growth opportunities organically and through acquisitions, both domestically and internationally, throughout 2024 and into 2025.”