Mexico market activity and revenue impact, share repurchase program and M&A strategy, Mexico market activity, subsea product bookings, business model and revenue structure are the key contradictions discussed in Innovex International's latest 2025Q1 earnings call.
Revenue and Geographic Performance:
-
reported quarter one 2025 revenue of
$240 million, an
increase of 88% year-over-year and a
decrease of 4% sequentially.
- The year-over-year increase was primarily driven by the impact of the Dril-Quip and DWS acquisitions, while the sequential decrease was due to greater-than-anticipated weakness in Mexico and delivery delays in the U.S. offshore business.
North America Land Business Growth:
- The North America land business reported revenues growing
17% sequentially, driven by a full quarter of DWS results and seasonal growth in Canada.
- This growth was attributed to the combination of organic growth and strategic inorgan
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