Superior Drilling Products (SDPI) Misses Q3 EPS by 1c

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Go back to Superior Drilling Products (SDPI) Misses Q3 EPS by 1c

Superior Drilling Products, Inc. Delivers Revenue Growth of 45% to $5.2 million with Expanded Margins in Third Quarter 2022

November 11, 2022 6:45 AM EST

Third quarter revenue increased $1.6 million, or 45%, to $5.2 million over the prior-year period Tool revenue grew 43% and Contract Services revenue was up 51% Strong operating leverage resulted in net income of $639 thousand, or $0.02 per diluted share, compared with a loss in the prior-year period Adjusted EBITDA* was $1.5 million with a margin of 29.5%, up 560 basis points Ended the quarter with $2.0 million in cash and $7.5 million in shareholders equity Subsequent to quarter-end, the Company paid off remaining $750 thousand on... More