Drilling Tools International Reports Third-Quarter 2026 Results
Revenue grew 7% sequentially and Adjusted EBITDA rose 14%, reaching an approximately 23% margin. Full-year guidance is unchanged, while capital expenditures increased and the free-cash-flow outlook narrowed. The Saltire acquisition is expected to close in the first quarter of 2027.
Drilling Tools International Corporation announced its financial results for the third quarter of 2026, highlighting a 7% sequential revenue growth and a 14% increase in Adjusted EBITDA, which reached a margin of approximately 23%. The company noted that September was its strongest month of the quarter. While full-year 2026 guidance remains unchanged, the company reported an increase in capital expenditures and a narrowed outlook for free cash flow. Additionally, the company confirmed that its acquisition of Saltire is expected to close in the first quarter of 2027.