Quarterly ResultMay 5, 2026, 07:08 AM
Oil States Q1 Revenue $145M, Net Income $1M; Retires $53M Debt
AI Summary
Oil States International reported Q1 2026 revenues of $145.4 million, net income of $1.1 million ($0.02 per share), and Adjusted EBITDA of $16.7 million. These results were tempered by geopolitical conflicts and project deferrals. The company strengthened its balance sheet by retiring $52.7 million in convertible senior notes and secured two 2026 Spotlight on New Technology ® awards for its GeoLok ™ Geothermal Wellhead and MPD Drill Ahead Tool.
Key Highlights
- Retired $52.7 million of convertible senior notes on April 1, using cash, credit, and stock.
- Q1 2026 consolidated revenues were $145.4 million, down 19% sequentially.
- Reported Q1 2026 net income of $1.1 million ($0.02 per share).
- Adjusted net income for Q1 2026 was $5.2 million ($0.09 per share).
- Adjusted EBITDA for Q1 2026 was $16.7 million.
- Offshore Manufactured Products revenue was $91.4 million, down 26% sequentially.
- Received two 2026 Spotlight on New Technology ® awards.
- Entered amended cash-flow based credit agreement in January 2026.