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Tuesday, August 16, 2022

Superior Drilling Products, Inc. (SDPI) Stock decreases 16.57% in premarket: Here is What You Need to Know

Superior Drilling Products, Inc. (SDPI) has experienced a decline of 16.57% in the premarket. However, the last trading session closed at $1.75 with an increase of 60.55%.

Second Quarter 2021 results

SDPI reported second-quarter 2021 results on 13th August 2021. Operating income of $116 thousand was achieved as a consequence of higher revenue and decreased operating expenditures. As a consequence of the timing of expenditures linked to year-end close and the reduction in amortization expense, total operating expenses dropped 3% over the preceding first quarter.


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The quarter’s net loss was nearly breakeven at $67 thousand, compared to a net loss of $1.1 million in the preceding quarter. Improved operational income more than compensated for other costs, which included an $11,000 loss on asset disposition. Adjusted EBITDA grew to $1.0 million from $0.5 million in the prior quarter as a consequence of increased revenue and operating leverage obtained from higher volume, while Adjusted EBITDA margin increased to 28.2 percent.

First Quarter 2021 Results

SDPI announced the first quarter 2021 results on 12th May 2021. As market share and market circumstances improved, revenue grew by $884 thousand, or 57 percent, over the previous fourth quarter. The impact of the global pandemic on the oil and gas sector is shown in the year-over-year comparison.

North America’s market is improving at a faster rate than the rest of the world. Increased tool sales, as well as higher royalty and repair costs, boosted revenue by 74 percent in North America. Total operational expenditures increased 13% year over year, but revenue rose 57%, illustrating the impact of cost-cutting measures and the operating leverage achieved from increasing volume. The quarter’s net loss was $1.1 million, compared to $0.7 million in the previous quarter, which included a $0.9 million windfall from government debt forgiveness. As a consequence of greater revenue and operating leverage achieved from higher volume, Adjusted EBITDA improved sequentially compared to the preceding fourth quarter.

SDPI announced Fourth Quarter & Full Year 2020 Results

On 11 March 2021, SDPI published the fourth quarter and full-year 2020 results. When compared to the prior year’s quarter, revenue fell $2.8 million, or 64 percent. It was due to reduced worldwide demand for oil due to the social and economic effects of the epidemic. The fourth-quarter revenue remained flat sequentially as global oil prices bottomed and slowly began to rebound.

Decreased material costs from lower volume resulted in a $1.2 million decrease. The reduction in expenses was due to steps made to align operations with decreased demand. The cost of sales as a proportion of revenue was 53 percent, up from 48 percent the previous year. Because of the lower volume, the rise indicates a poorer absorption of overhead expenses. As a consequence of sustained cost control and a better product mix, the cost of sales improved sequentially to 53.3 percent on similar revenue.

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