Innovex (INVX) Reports Q3 2026 Growth Driven by North American Market Share and Subsea Backlog
Innovex International, Inc. (INVX) reported strong third-quarter 2026 results, with revenue reaching $265 million, representing a 10% year-over-year increase. The growth was primarily driven by increased drilling activity in North America and market share gains in the U.S. land cementing tool business. Adjusted EBITDA rose to $55 million, reflecting improved operating leverage and an expanded margin of 21%. The company is seeing significant momentum in its offshore segment, bolstered by the TCO acquisition and a growing subsea project backlog, which now stands at $53 million for the Far East. While management noted headwinds in the Middle East due to regional conflict—leading to higher logistics costs—the long-term outlook remains positive with a 10% revenue growth target for 2027 and strategic reentry into the Venezuelan market.
Tickers: $INVX
Topics: Contract Awards EBITDA Margin Free Cash Flow Guidance Revenue Growth