Innovex Q2 Revenue, EBITDA Beat Estimates; Guides Q3 Above Consensus
INVX sits 84% above its 52-week low of $15.538.
Summary
Innovex delivered a clean Q2 beat with revenue of $244.9M (vs. $240.76M consensus) and adjusted EBITDA of $48M (vs. $44.83M consensus), driven by international activity and subsea momentum. The company also closed the $95M TCO Group acquisition after quarter-end, adding scale in subsea. Q3 guidance calls for revenue of $260M-$270M and adjusted EBITDA of $51M-$57M, both above Street expectations. This follows a Q1 that was marred by a legal settlement but showed underlying EBITDA strength. The stock trades at 15x forward earnings, down from 18x three months ago, suggesting room for multiple expansion if execution continues.
At the time of this announcement, INVX was trading at $28.64 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $2B. The 52-week trading range was $15.54 to $32.25. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.