Innovex International (INVX) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Innovex International published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Innovex reports one segment. The two rows above are the markets in its Geographic Revenue Details table, each split further into products, services and rental.
• Q3 2025 income from operations included a $40.9 million gain on sale of assets; Innovex completed the sale of its Eldridge facility on September 23, 2025. Q1 2026 included a $48.8 million provision for the Impulse patent litigation, which produced that quarter's loss.
• Innovex acquired TCO Group, a Norwegian completions equipment maker, on July 1, 2026, so Q3 2026 includes TCO and the year-ago quarter does not.

Source: Innovex International Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Innovex International splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Innovex International's North America Onshore revenue was $146 million in Q3 2026, up 10% from $132 million in Q3 2025, 55% of total revenue.
• Innovex International's International & Offshore revenue was $119 million in Q3 2026, up 10% from $108 million in Q3 2025, 45% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Innovex International said:

“Looking to the fourth quarter of 2026, Innovex expects to generate $260-$270 million in total revenue and Adjusted EBITDA of $53-$58 million.”

Source: Innovex Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the INVX forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenues and diluted earnings per share, each as first reported in that quarter's release. Innovex does not report an adjusted EPS figure; its main non-GAAP measure is Adjusted EBITDA.

We do not hold a confirmed date for Innovex International's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

Innovex International reported revenue of $265.1 million for Q3 2026, up 10% from $240.0 million a year earlier and up 8% from $244.9 million in Q2 2026. Innovex sells, rents and services well equipment whose portfolio extends throughout the lifecycle of the well, and was formed in 2024 by the merger of Dril-Quip and Innovex Downhole Solutions. (Innovex Q3 2026 release, Oct 29, 2026)

North America Onshore revenue was $145.7 million, up $13.7 million, which the 10-Q puts down to more drilling activity as the North American onshore rig count rose. Products were $98.6 million of that market, rental $29.2 million and services $17.9 million. The CEO said the U.S. Land business also gained modest share, with particular success in cementing tools. (Innovex Form 10-Q, Q3 2026, Nov 4, 2026; Innovex Q3 2026 release, Oct 29, 2026)

International & Offshore revenue was $119.4 million, up $11.3 million, primarily because of the TCO Group acquisition in July 2026. Innovex paid $90.8 million for TCO: 1,060,713 shares valued at $25.8 million, $61.9 million in cash and $3.1 million of debt paid on the seller's behalf. TCO makes completion barrier plugs, tubing-conveyed perforating services, chemical injection systems and annulus pressure relief systems. (Innovex Form 10-Q, Q3 2026, Nov 4, 2026)

In the quarter Innovex won a $30+ million subsea wellhead contract with a major international operator in Indonesia and $9+ million of additional subsea work through its OneSubsea Alliance, and supported the installation of its 20K psi wellhead system Offshore US. It also re-entered Venezuela, and said its Middle East business had a solid quarter despite disruption from the conflict in Iran. (Innovex Q3 2026 release, Oct 29, 2026)

Innovex's sales are not concentrated in one buyer. No single customer accounted for 10% or more of consolidated revenue in 2025 or 2024. (Innovex Form 10-K, 2025, Feb 24, 2026)

Innovex International's diluted EPS fell to $0.37 from $0.57 even though revenue rose. The year-ago quarter included a $40.9 million gain on sale of assets, against $89 thousand in Q3 2026, so income from operations fell to $32.3 million from $62.3 million. Innovex reports no adjusted EPS; Adjusted EBITDA, which excludes asset-sale gains, rose to $55.4 million from $43.6 million, a 21% margin against 18%. (Innovex Q3 2026 release, Oct 29, 2026)

Q3 2026 also carried a $1.8 million provision for legal settlement and $900 thousand of acquisition and integration costs. The provision relates to the Impulse patent case against Innovex's subsidiary Downhole Well Solutions, in which a jury awarded $47.6 million of damages; Innovex has accrued $53.4 million and says it will pursue post-trial motions and an appeal. (Innovex Q3 2026 release, Oct 29, 2026; Innovex Form 10-Q, Q3 2026, Nov 4, 2026)

The effective tax rate was 24.4% against 32.3% a year earlier. Diluted weighted average shares rose to 70,652,583 from 69,265,300. (Innovex Form 10-Q, Q3 2026, Nov 4, 2026; Innovex Q3 2026 release, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Innovex International gives a one-quarter outlook in its release. For Q4 2026 it expects total revenue of $260 million to $270 million and Adjusted EBITDA of $53 million to $58 million. It does not reconcile the Adjusted EBITDA guidance to a GAAP measure, citing the difficulty of forecasting the items it excludes. (Innovex Q3 2026 release, Oct 29, 2026)

The 10-Q cites Rystad Energy's expectation, as of October 15, 2026, that global upstream energy spending excluding Iran, Venezuela, Cuba, Russia and China declines by about 1% in 2026 before rising by about 6% in 2027. (Innovex Form 10-Q, Q3 2026, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Innovex International, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Innovex International's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning INVX is on is INVX a buy or a sell?, what analysts expect next is on the INVX forecast, and what the company does is on the Innovex International (INVX) stock page.

Every number on this page can be traced to a document Innovex International published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.