Innovex International (INVX)
NYSE:INVX
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Earnings Data
Report Date
Aug 11, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.29Last Year’s EPS
0.28Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive operational and financial trajectory: Innovex beat guidance, delivered margin expansion (21% adjusted EBITDA margin), generated positive free cash flow, maintained a strong balance sheet with ~$201M cash and no bank debt, executed strategic M&A (DIS) at a reasonable multiple, and won sizable Subsea awards (> $20M each). Key near-term headwinds include a material $49M legal accrual tied to patent litigation, sequential revenue and international/offshore softness (Q1 revenue -13% sequential, international/offshore -24% sequential), Middle East conflict–related disruptions and higher logistics costs, a temporary working capital build, and Q2 EBITDA guidance below Q1 levels. Overall, the highlights (operational execution, margin improvement, cash position, strategic deals, and Subsea momentum) outweigh the lowlights, though the legal exposure and regional risks are notable items to monitor.Company Guidance
Revenue and Guidance Outperformance
Q1 revenue of $239 million exceeded the high end of guidance; Q2 revenue guidance of $235M–$245M. Revenue was down 13% sequentially from Q4 2025 and down 1% year-over-year versus Q1 2025, but still beat guidance.
Improved Profitability and Margin Expansion
Adjusted EBITDA of $49 million in Q1 with an adjusted EBITDA margin of 21%, up from 19% in both Q4 2025 and Q1 2025. Management expects margin improvement to continue and quarterly margins north of 20% in the back half of 2026.
Positive Free Cash Flow and Strong Balance Sheet
Q1 free cash flow of $14 million (approximately 28% conversion of adjusted EBITDA). Ended quarter with ~$201 million cash and cash equivalents and no bank debt, supporting financial flexibility and capital allocation.
Capital Efficiency and Low CapEx
Capital expenditures of $6 million in Q1, down 35% sequentially and representing ~2.4% of revenue (within historical 2%–3% range), consistent with the company’s capital-light model.
Strategic M&A and Shareholder Returns
Completed acquisition of Drilling Innovative Solutions (DIS) for $16 million (~4x trailing 12-month EBITDA) to expand completions/production tech; repurchased over $14 million of shares at $24.59 per share during the quarter.
Subsea Commercial Momentum and Large Awards
Secured two significant project awards in Asia, each exceeding $20 million, and delivered the first Subsea wellhead order in Southeast Asia under the OneSubsea alliance. Management cites growing Subsea pipeline and confidence in long-term opportunity.
Operational Improvements from Facility Consolidation
Improved manufacturing efficiency associated with transition out of the legacy Eldridge facility contributed to profitability; management stated roughly half of gross margin improvement Q4→Q1 was driven by manufacturing efficiency (the other half by product mix).
Return on Capital Employed and Long-Term Targets
12-month ROCE of 12% (ended March 31, 2026) with a stated long-term target of high-teens ROCE driven by margin expansion, high-return M&A, and shareholder returns.
INVX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
INVX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 04, 2026 | $27.42 | $26.68 | -2.70% |
Feb 23, 2026 | $27.17 | $28.90 | +6.37% |
Nov 03, 2025 | $20.42 | $19.61 | -3.97% |
Aug 05, 2025 | $16.61 | $16.09 | -3.13% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Innovex International (INVX) report earnings?
Innovex International (INVX) is schdueled to report earning on Aug 11, 2026, After Close (Confirmed).
What is Innovex International (INVX) earnings time?
Innovex International (INVX) earnings time is at Aug 11, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is INVX EPS forecast?
INVX EPS forecast for the fiscal quarter 2026 (Q2) is 0.29.