NYSE$OIS
Oil States International Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported a slight increase in revenue year-over-year, but a decrease sequentially, with net income of $0.6 million.
Oil States International, Inc. reported net income of $0.6 million, or $0.01 per share, for the second quarter of 2023 on revenues of $183.5 million and Adjusted EBITDA of $19.0 million. The company's results reflect activity declines in U.S. shale basins offset by growth in offshore and international regions. They generated strong cash flow from operations of $44.7 million.
- Net income of $0.6 million, or $0.01 per diluted share, was reported for the quarter.
- Revenue of $183.5 million increased 1% year-over-year but decreased 6% sequentially.
- Adjusted EBITDA of $19.0 million increased $2.0 million year-over-year but decreased $2.4 million sequentially.
- Offshore/Manufactured Products segment's backlog increased sequentially for a fourth consecutive quarter, totaling $338 million.
Headline financials
Revenue & EPS history
Oil States · Revenue · Quarterly
$184M
Revenue by segment
Oil States · $119M total across 2 segments · Q2 2023
- Offshore Manufactured Products$94.1M—79.1%
- Downhole Technologies$24.9M—20.9%
Forward guidance
Oil States confirms its full-year guidance of $92 to $100 million of Adjusted EBITDA based upon expected contributions from the ongoing recovery in offshore activity.
Tailwinds
- Ongoing recovery in offshore activity.
- Backlog growth at Offshore/Manufactured Products segment.
- Strong cash flow from operations.
- Repaid all amounts outstanding under the revolving credit facility.
- Strong position to create stockholder value.
Headwinds
- Activity declines in U.S. shale basins.
- Sequentially weaker second quarter revenues.
- Sequentially weaker second quarter Adjusted EBITDA.
- Operating results included a $1.0 million non-cash provision for excess and obsolete inventory in Downhole Technologies.
- General global economic conditions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+1.0%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+1.0%
Avg return
30 days after
53%
36 / 68 earnings
Positive
+25.0%
Q4 2025
Best reaction
-23.9%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -13.6% | -22.3% | -22.2% | |
| Q4 2025 | +25.0% | +34.3% | +21.6% | |
| Q3 2025 | +3.5% | -2.4% | -4.1% | |
| Q1 2025 | +23.1% | +18.8% | +23.9% | |
| Q4 2024 | -11.7% | -0.7% | -1.5% | |
| Q3 2024 | +13.2% | +12.9% | +31.6% | |
| Q2 2024 | +17.1% | +12.4% | +9.9% | |
| Q1 2024 | -23.9% | -24.2% | -14.3% | |
| Q4 2023 | -6.9% | -9.0% | +0.3% | |
| Q3 2023 | +4.6% | +1.0% | -3.8% | |
| Q2 2023 | -11.8% | -10.9% | -13.7% | |
| Q1 2023 | -5.6% | -8.4% | -7.8% | |
| Q4 2022 | +9.1% | +6.0% | -15.8% | |
| Q3 2022 | -0.9% | +13.5% | +11.8% | |
| Q2 2022 | -0.8% | +0.2% | +7.4% | |
| Q1 2022 | +4.3% | +5.4% | +19.9% | |
| Q4 2021 | -1.2% | -14.8% | +1.1% | |
| Q3 2021 | +1.3% | +12.5% | -20.8% | |
| Q2 2021 | -0.7% | -8.7% | -0.8% | |
| Q1 2021 | +6.6% | +3.9% | +14.6% | |
| Q4 2020 | -4.5% | +4.8% | -6.6% | |
| Q3 2020 | -1.2% | +13.9% | +89.3% | |
| Q2 2020 | -6.7% | -7.1% | -8.5% | |
| Q1 2020 | +20.7% | +14.4% | +48.8% | |
| Q4 2019 | -7.4% | -18.5% | -81.7% | |
| Q3 2019 | +7.3% | +11.2% | +16.0% | |
| Q2 2019 | +8.1% | +1.8% | -0.8% | |
| Q1 2019 | +1.8% | +4.6% | -13.0% | |
| Q4 2018 | -1.5% | +4.7% | -10.5% | |
| Q3 2018 | +0.9% | -2.1% | -2.0% | |
| Q2 2018 | +3.1% | -2.7% | +1.8% | |
| Q1 2018 | +12.6% | +8.9% | +6.1% | |
| Q4 2017 | -2.7% | -1.4% | -9.0% | |
| Q3 2017 | -4.6% | +2.0% | +0.7% | |
| Q2 2017 | -9.0% | -5.8% | -17.7% | |
| Q1 2017 | -8.3% | -11.0% | -10.0% | |
| Q4 2016 | -8.9% | -11.3% | -19.9% | |
| Q3 2016 | -4.5% | -6.9% | +5.6% | |
| Q2 2016 | +4.3% | +7.1% | +11.7% | |
| Q1 2016 | +4.2% | — | — | |
| Q4 2015 | -1.0% | — | — | |
| Q3 2015 | +2.0% | — | — | |
| Q2 2015 | +8.9% | — | — | |
| Q1 2015 | +9.5% | — | — | |
| Q4 2014 | -0.5% | — | — | |
| Q3 2014 | +0.9% | — | — | |
| Q2 2014 | -2.2% | — | — | |
| Q1 2014 | -2.5% | — | — | |
| Q4 2013 | -2.8% | — | — | |
| Q3 2013 | +1.1% | — | — | |
| Q2 2013 | +2.4% | — | — | |
| Q1 2013 | -3.3% | — | — | |
| Q4 2012 | -1.7% | — | — | |
| Q3 2012 | -1.6% | — | — | |
| Q2 2012 | -1.7% | — | — | |
| Q1 2012 | +8.3% | — | — | |
| Q4 2011 | +1.3% | — | — | |
| Q3 2011 | +4.3% | — | — | |
| Q2 2011 | +1.8% | — | — | |
| Q1 2010 | +5.4% | — | — | |
| Q1 2011 | +2.4% | — | — | |
| Q4 2008 | -4.1% | — | — | |
| Q4 2010 | -4.1% | — | — | |
| Q3 2010 | +0.5% | — | — | |
| Q3 2009 | +0.5% | — | — | |
| Q2 2010 | +2.9% | — | — | |
| Q2 2009 | +2.9% | — | — | |
| Q4 2009 | +2.9% | — | — |
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