Drilling Tools International Q2 Earnings Call Highlights

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Fri, August 7, 2026 astatine 10:04 AM CDT 6 min read

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DTI reported resilient second-quarter results contempt a astir 4% sequential diminution successful planetary rig activity, with gross of $38.1 million, adjusted EBITDA of $8.4 cardinal and adjusted escaped currency travel of $4.1 million. Tool rental gross was $29.6 million, portion nett nonaccomplishment attributable to stockholders was $1.8 million.
North American enactment improved precocious successful the quarter, with the July rig number reaching 777—about 10% supra the second-quarter average—although softer onshore enactment and pricing unit reduced rental revenue. International operations faced Middle East disruptions, portion request for specialized ClearPath offshore exertion remained strong.
Management reaffirmed full-year 2026 guidance for gross of $155 million–$170 million, adjusted EBITDA of $35 million–$45 cardinal and adjusted escaped currency travel of $17 million–$22 million. DTI expects a stronger 2nd fractional driven by planetary and U.S. activity, though elevated ClearPath-related superior spending whitethorn propulsion escaped currency travel toward the debased extremity of its range.

Drilling Tools International (NASDAQ:DTI) reported second-quarter 2026 gross of $38.1 million, adjusted EBITDA of $8.4 cardinal and adjusted escaped currency travel of $4.1 million, arsenic the institution navigated little planetary drilling enactment and operational disruptions successful the Middle East.

Net nonaccomplishment attributable to stockholders was astir $1.8 million, oregon $0.05 per share, during the quarter. Adjusted nett nonaccomplishment was $575,000, oregon $0.02 per share. Tool rental gross totaled $29.6 million, portion merchandise income gross was $8.5 million.

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Chairman and Chief Executive Officer Wayne Prejean said the institution generated resilient results contempt a astir 4% sequential diminution successful the planetary rig count. He said Middle Eastern rig enactment declined astir 7% during the 4th and represented astir fractional of the planetary diminution affecting enactment levels.

North American Activity Improved Late successful the Quarter

Prejean said North American enactment was affected aboriginal successful the 4th by Canada's seasonal breakup period, which removed astir 50 rigs from the determination number successful April. U.S. operators besides broadly held enactment level portion assessing the interaction and duration of the Iran conflict, helium said.

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Activity strengthened aboriginal successful the quarter, according to management. Prejean said the North American rig number reached 777 rigs successful July, much than 70 rigs, oregon 10%, supra the second-quarter average. The institution besides said additions of bottom-hole assembly rigs connected U.S. onshore were outpacing the broader rig-count increase, which it views arsenic a favorable indicator for its largest concern line.

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