Dril-Quip Inc. Q2 Profit Declines 8%

(RTTNews) - Dril-Quip Inc. (DRQ) released earnings for second quarter that decreased from last year.

The company said its bottom line dropped to $36.14 million, or $0.96 per share. This was lower than $39.21 million, or $1.01 per share, in last year's second quarter.

Analysts had expected the company to earn $0.67 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 33.8% to $142.44 million. This was down from $215.28 million last year.

Dril-Quip Inc. earnings at a glance:

-Earnings (Q2): $36.14 Mln. vs. $39.21 Mln. last year. -Earnings Decline (Y-o-Y): -7.8% -EPS (Q2): $0.96 vs. $1.01 last year. -EPS Decline (Y-o-Y): -5.0% -Analysts Estimate: $0.67 -Revenue (Q2): $142.44 Mln vs. $215.28 Mln last year. -Revenue Change (Y-o-Y): -33.8%

-Guidance: Full year EPS guidance: $2.05 - $2.25