Earnings Releases·Oct 29, 2026, 4:20 PM ET

Innovex International, Inc. — Third Quarter 2026 Earnings Summary

Revenue grew 10% year-over-year to $265.1 million, while net income declined to $26.3 million (10% margin) from $39.2 million (16% margin) in the prior year period; Adjusted EBITDA rose to $55.4 million (21% margin) from $43.6 million.
Guidance for Q4 2026 forecasts revenue of $260–$270 million and Adjusted EBITDA of $53–$58 million, with management anticipating meaningful growth in 2027 driven by subsea backlog expansion and increased direct awards.
The company secured significant new awards, including a $30+ million subsea wellhead contract in Indonesia and a major North Sea fishing contract, while re-entering Venezuela and expanding market share in U.S. cementing tools.
Strategic focus remains on capital-light growth and M&A, with $63.3 million paid for acquisitions during the quarter and no dividends declared; the balance sheet remains strong with $188.8 million in cash and no bank debt.