| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 156.66 | 7.8% | 5.3% |
| Total Income | 156.66 | 7.8% | 5.3% |
| Expenditure | 144.95 | 2.7% | 9.5% |
| PBT | 7.92 | 143.7% | 87.7% |
| Net Profit | 5.91 | 432.4% | 110.3% |
| OPM | 7.48% | 4.53pp | 4.29pp |
| NPM | 3.77% | 3.01pp | 2.07pp |
| EPS | 0.10 | 400.0% | 100.0% |
Oil States Announces Second Quarter 2026 Results
30 Jul 2026 · 30 Jul, 4:36 pm
Summary
Oil States International, Inc. reported second quarter 2026 revenues of $156.7 million, an 8% increase sequentially, and a net income of $5.9 million, or $0.10 per share. Adjusted EBITDA for the quarter was $19.0 million, up 14% from the previous quarter. Management highlighted the resilience of their product and services portfolio and expressed encouragement regarding the continued strength of their backlog, which reached its highest level in over a decade.
Key Highlights
- 1
Consolidated revenues of $157 million increased 8% sequentially in the second quarter of 2026.
- 2
Net income for the second quarter of 2026 was $6 million, or $0.10 per share.
- 3
Adjusted net income totaled $8 million, or $0.14 per share, for the second quarter of 2026.
- 4
Adjusted EBITDA of $19 million rose 14% from the prior quarter.
- 5
The Offshore Manufactured Products segment's backlog increased 5% sequentially, with quarterly bookings totaling $114 million, yielding a book-to-bill ratio of 1.2x.
- 6
The Downhole Technologies segment generated revenues of $40 million, the highest level reported since the second quarter of 2023.
- 7
The company retired the remaining $53 million principal amount of its convertible senior notes on April 1, 2026.
Management Comments
Lloyd Hajdik
Our second quarter results demonstrated the resilience of Oil States’ product and services portfolio, as Adjusted EBITDA was in line with our expectations despite revenue being tempered by the timing of certain customer awards. We are encouraged by the continued strength of our backlog, with quarterly bookings totaling $114 million, yielding a 1.2x quarterly book-to-bill ratio and total backlog of $451 million, the highest level in over a decade. With sequential quarterly improvements reported in our Downhole Technologies and Completion and Production Services segments, we believe we are in the early stages of increased investment by our customers. The sustained growth in our backlog, combined with improving activity across offshore, international and military markets, reinforces our confidence in the long-term opportunity set ahead of us. As we progress through the second half of 2026, we continue build upon our differentiated portfolio of products and services that are aligned with our customers’ most critical projects, and we remain focused on growing our backlog, expanding margins and improving cash generation for our stockholders.
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