| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 145.36 | 9.1% |
| Total Income | 145.36 | 9.1% |
| Expenditure | 141.09 | 8.6% |
| PBT | 3.25 | 22.6% |
| Net Profit | 1.11 | 64.9% |
| OPM | 2.94% | 0.58pp |
| NPM | 0.76% | 1.21pp |
| EPS | 0.02 | 60.0% |
Oil States Reports Q1 2026 Results: Net Income $1.1 Million
05 May 2026 · 5 May, 4:38 pm
Summary
Oil States International, Inc. announced its first quarter 2026 results, which included revenues of $145.4 million, net income of $1.1 million, and Adjusted EBITDA of $16.7 million. The net income included charges of $4.1 million related to exiting certain U.S. land-based operations and asset impairments. The company strengthened its balance sheet by reducing debt in early April. Backlog totaled $430 million as of March 31, 2026.
Key Highlights
- 1
Oil States International, Inc. reported consolidated revenues of $145 million for the first quarter of 2026.
- 2
The company's net income for Q1 2026 was $1 million, or $0.02 per share.
- 3
Adjusted net income for the quarter totaled $5 million, or $0.09 per share, excluding restructuring and asset impairment charges.
- 4
Adjusted EBITDA for the first quarter of 2026 was $17 million.
- 5
Cash on-hand exceeded outstanding debt by $4 million at the end of the quarter.
- 6
Backlog totaled $430 million as of March 31, 2026.
- 7
The company retired the remaining $53 million principal amount of convertible senior notes on April 1, 2026.
Management Comments
Lloyd Hajdik
During the first quarter, our results were tempered by heightened geopolitical conflict and ongoing uncertainty in the Middle East, which contributed to contract award delays, reduced revenue and increased costs. Transitory project deferrals also impacted reported results in the quarter. While these factors weighed on near‑term activity, we remained focused on cost control, monetization of exited facilities and equipment and supporting our customers’ critical programs. We strengthened our balance sheet by reducing debt in early April, which enhances our financial flexibility. With a strong liquidity position and a more resilient capital structure, we believe Oil States is well positioned to navigate ongoing near-term volatility and longer-term structural changes.”
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