Quarterly ResultJul 30, 2026, 07:06 AM
Oil States Q2 Net Income $6M, Revenues $157M; Backlog $451M
AI Summary
Oil States International, Inc. reported strong second-quarter 2026 results, with consolidated revenues of $157 million, an 8% sequential increase. Net income surged to $6 million, or $0.10 per share, and Adjusted EBITDA rose 14% sequentially to $19 million. The company achieved a decade-high backlog of $451 million in its Offshore Manufactured Products segment and saw Downhole Technologies revenues reach their highest level since Q2 2023. Additionally, Oil States retired $53 million in convertible senior notes and purchased $5 million of its common stock.
Key Highlights
- Consolidated revenues reached $157 million, an 8% sequential increase.
- Net income was $6 million, or $0.10 per share, up 433% sequentially.
- Adjusted EBITDA totaled $19 million, a 14% increase from the prior quarter.
- Offshore Manufactured Products backlog increased 5% sequentially to $451 million, a decade high.
- Downhole Technologies segment revenues hit $40 million, highest since Q2 2023.
- The company retired $53 million principal amount of convertible senior notes.
- Oil States repurchased $5 million of its common stock.
Price Impact
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