Superior Drilling Products (SDPI) Tops Q2 EPS by 3c, Revenues Beat; Boosts FY18 Revenue Mid-Point Guidance

Superior Drilling Products (NYSE: SDPI) reported Q2 EPS of $0.04, $0.03 better than the analyst estimate of $0.01. Revenue for the quarter came in at $5.4 million versus the consensus estimate of $5.1 million.

Troy Meier, Chairman and CEO, noted, “We had strong growth in the quarter supported by excellent tool sales that were also complemented by initial revenue generated in the Middle East. The value of our Drill-N-Ream® (“DnR”) well bore conditioning tool is becoming more broadly understood globally in the oil & gas industry as the operating fleet expands. In fact, the deployment of the DnR in the Middle East is demonstrating it can deliver incremental improvements to their drilling operations. And, importantly, we believe our Strider™ oscillation system technology continues to demonstrate value as we are evaluating channel partnership opportunities.”

GUIDANCE:

Superior Drilling Products sees FY2018 revenue of $20-22 million, versus the consensus of $20.41 million.

For earnings history and earnings-related data on Superior Drilling Products (SDPI) click here.

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