Oil States International (NYSE:OIS) Releases Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Oil States reported Q1 EPS of $0.09, beating estimates by $0.01, but revenue of $145.36 million missed expectations, declined 9.1% year‑over‑year, and the stock dropped about 13.8% on the results.
• The Offshore Manufactured Products segment led performance with $91 million revenue and roughly $19 million Segment Adjusted EBITDA (~20% margin), and backlog sits near a decade high at $430 million.
• Liquidity and capital position improved—$59 million cash on hand, an amended credit facility leaving $112 million available capacity at quarter end, and retirement of $53 million of convertible notes—while management expects free cash flow to recover as working capital normalizes.

Oil States International (NYSE:OIS - Get Free Report) issued its earnings results on Tuesday. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.01, FiscalAI reports. The company had revenue of $145.36 million for the quarter, compared to analysts' expectations of $153.79 million. Oil States International had a negative net margin of 16.35% and a positive return on equity of 3.27%. Oil States International's quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS.

Here are the key takeaways from Oil States International's conference call:

• Q1 results showed $145 million in revenue and $17 million adjusted EBITDA with net income of $1 million (EPS $0.02), and management says the sequential decline was driven by seasonality, project timing, Middle East-related delays, and softness in U.S. land.
• The Offshore Manufactured Products segment led performance with $91 million revenue and $19 million Segment Adjusted EBITDA (~20% margin), and backlog sits near a decade high at $430 million with bookings of $84 million (quarterly book‑to‑bill 0.9; company reiterates full‑year book‑to‑bill ≥1).
• The company is increasingly weighted to higher‑margin offshore and international work (≈72% of Q1 revenue vs. 66% in Q1 2025) and highlights technology differentiation with SPE awards for its GeoLok geothermal wellhead and MPD Drill Ahead Tool.
• Liquidity and capital position strengthened — $59 million cash on hand, an amended credit facility (up to $75M revolver + $50M term loan) with $112 million available capacity at quarter end, and retirement of $53 million of convertible notes on April 1; management expects free cash flow to improve as working capital normalizes.
• Downhole Technologies faces near‑term headwinds, delivering $32 million revenue but only $1 million Segment Adjusted EBITDA, with international expansion and growth initiatives delayed by the Middle East conflict and margins pressured by higher raw material and shipping costs.

Oil States International Trading Down 13.8%

Shares of NYSE:OIS traded down $1.55 on Tuesday, reaching $9.65. 390,440 shares of the company's stock were exchanged, compared to its average volume of 1,032,674. The company has a fifty day moving average of $11.87 and a 200-day moving average of $8.89. Oil States International has a twelve month low of $4.09 and a twelve month high of $14.50. The company has a market capitalization of $581.11 million, a price-to-earnings ratio of -5.04 and a beta of 1.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors boosted its position in shares of Oil States International by 19.5% during the 4th quarter. Captrust Financial Advisors now owns 14,262 shares of the oil and gas company's stock worth $97,000 after acquiring an additional 2,332 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Oil States International by 20.5% during the 3rd quarter. NewEdge Advisors LLC now owns 18,961 shares of the oil and gas company's stock worth $115,000 after acquiring an additional 3,222 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Oil States International by 221.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,876 shares of the oil and gas company's stock worth $37,000 after acquiring an additional 4,740 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Oil States International by 1.7% during the 4th quarter. Russell Investments Group Ltd. now owns 292,652 shares of the oil and gas company's stock worth $1,981,000 after acquiring an additional 4,989 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Oil States International by 98.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,626 shares of the oil and gas company's stock worth $70,000 after acquiring an additional 5,779 shares in the last quarter. Institutional investors and hedge funds own 97.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Oil States International from a "hold" rating to a "buy" rating in a report on Saturday, February 28th. Susquehanna upped their target price on shares of Oil States International from $8.00 to $13.00 and gave the company a "neutral" rating in a report on Monday, February 23rd. Raymond James Financial reaffirmed an "outperform" rating and issued a $14.00 target price on shares of Oil States International in a report on Monday, February 23rd. Stifel Nicolaus upped their target price on shares of Oil States International from $10.00 to $15.00 and gave the company a "buy" rating in a report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Oil States International in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $14.00.

About Oil States International

Oil States International, Inc is a Houston-based provider of products and services to the global oil and gas industry. Through its well site solutions and flat steel solutions segments, the company supplies critical equipment and consumables used in drilling, completion and production operations. Its well site offerings include a broad range of rental products—such as coiled tubing, frac iron, pressure control equipment and downhole tool rentals—designed to support drilling rigs and well completion crews.

In addition to rental and service offerings, Oil States International's flat steel solutions business manufactures and distributes steel pipeline and flowback products.

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