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Dril-Quip: 1Q Earnings Snapshot

HOUSTON (AP) _ Dril-Quip Inc. (DRQ) on Thursday reported a loss of $6.1 million in its first quarter.

The Houston-based company said it had a loss of 17 cents per share. Losses, adjusted for one-time gains and costs, came to 12 cents per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.

The maker of offshore drilling and production equipment posted revenue of $94.3 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $97.5 million.

Dril-Quip shares have risen 45 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $43.61, a decrease of nearly 1 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DRQ at https://www.zacks.com/ap/DRQ