Dril-Quip Inc. Bottom Line Falls 9% In Q3

(RTTNews) - Dril-Quip Inc. (DRQ) revealed earnings for third quarter that fell from last year.

The company said its earnings fell to $50.78 million, or $1.32 per share. This was lower than $55.68 million, or $1.40 per share, in last year's third quarter.

Analysts had expected the company to earn $1.15 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 16.7% to $201.40 million. This was down from $241.75 million last year.

Dril-Quip Inc. earnings at a glance:

-Earnings (Q3): $50.78 Mln. vs. $55.68 Mln. last year. -Earnings Decline (Y-o-Y): -8.8% -EPS (Q3): $1.32 vs. $1.40 last year. -EPS Decline (Y-o-Y): -5.7% -Analysts Estimate: $1.15 -Revenue (Q3): $201.40 Mln vs. $241.75 Mln last year. -Revenue Change (Y-o-Y): -16.7%

-Guidance: Next quarter EPS guidance: $1.00 - $1.10 Full year EPS guidance: $4.70 - $4.80