Quarterly ResultMay 5, 2026, 04:28 PM
Oil States Q1 Net Income $1.1M, down 65%; Revenue $145.4M, down 9%
AI Summary
Oil States International, Inc. reported a significant decline in its first-quarter 2026 financial results, with net income falling by 65% to $1.1 million and revenues decreasing by 9% to $145.4 million compared to the prior year. The company also completed the retirement of its $52.7 million 2026 Notes on April 1, 2026, utilizing a combination of cash, revolving credit, and common stock. Additionally, the company entered into a new $125 million Cash Flow Credit Agreement.
Key Highlights
- Net income decreased 65% to $1.1 million ($0.02 EPS) in Q1 2026 from $3.2 million ($0.05 EPS) in Q1 2025.
- Revenues declined 9% to $145.4 million in Q1 2026 from $159.9 million in Q1 2025.
- Operating income decreased 24.1% to $4.3 million in Q1 2026 from $5.6 million in Q1 2025.
- Net cash flows used in operating activities were $1.9 million in Q1 2026, compared to $9.3 million provided in Q1 2025.
- Retired $52.7 million 2026 Notes on April 1, 2026, using cash, revolving credit, and common stock.
- Entered a new $125 million Cash Flow Credit Agreement, replacing the previous ABL Agreement.
- Completion and Production Services segment revenue fell 37.7% to $21.5 million.
- Recorded a $1.4 million impairment charge for assets held for sale in Q1 2026.
Price Impact
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