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Oil States International, Inc. (OIS) is a key player in the global oil and gas industry, offering an extensive range of products and services tailored to meet the needs of deep water production facilities and subsea pipelines. As a leading manufacturer, Oil States provides engineered capital equipment and consumable products utilized in the drilling, well construction, and production phases of oil and natural gas. The company’s expertise extends beyond manufacturing, encompassing a variety of essential services, including land drilling, completion and production-related rental tools, workforce accommodations, logistics, and the distribution of oil country tubular goods.
Oil States International operates through three primary business segments: Offshore/Manufactured Products, Well Site Services, and Downhole Technologies. The Offshore/Manufactured Products segment generates the majority of the company’s revenue by delivering advanced equipment for offshore oil and gas production. The Well Site Services division supports onshore operations through the provision of high-quality rental tools and well completion services. Meanwhile, the Downhole Technologies segment focuses on innovative solutions for drilling and well intervention.
The company’s client base includes national and international oil and natural gas companies, onshore and offshore drilling firms, and various oilfield service providers. Oil States International also serves the defense and industrial sectors, showcasing the versatility and broad applicability of its product and service offerings.
Recent achievements for Oil States International include strategic partnerships and advancements in technological innovation, enhancing its capabilities and market position. The company continually invests in research and development to optimize its product lineup and service efficiency, ensuring they meet the evolving demands of the energy sector.
Oil States International (NYSE: OIS) reported a net loss of $13.0 million, or $0.22 per share, for Q3 2021, impacted by Hurricane Ida. Revenues declined to $140.5 million from $145.7 million in Q2 2021, with an Adjusted Consolidated EBITDA of $8.5 million. The hurricane caused a $5.9 million revenue reduction and $3.0 million decrease in EBITDA. However, the Offshore/Manufactured Products backlog rose to $249 million, with bookings up 64% sequentially, leading to a robust book-to-bill ratio of 1.5x. The company also received the ESG Accelerator Award for advancements in sustainability.
Oil States International has scheduled its third quarter 2021 earnings conference call for November 1, 2021, at 9:00 a.m. Central Time. The results for the quarter ending September 30, 2021 will be released that morning before markets open. Participants can access the call via Oil States’ website or by calling 1 (888) 771-4371 in the U.S. A replay will be available shortly after the call. Oil States International is a global provider of products and services in the energy, industrial, and military sectors, trading under the symbol OIS.
Oil States International (NYSE: OIS) reported a net loss of $15.3 million for Q2 2021, equating to $0.25 per share. Despite this loss, revenue rose to $145.7 million, a 16% increase from Q1 2021. Adjusted EBITDA totaled $10.1 million, up 64% from the prior quarter. The Offshore/Manufactured Products segment saw a significant revenue increase of 27%, while cash flow from operations was $22.4 million. The company successfully reduced net debt by $17.5 million. The backlog stood at $214 million with bookings of $65 million, reflecting a book-to-bill ratio of 0.9.
Oil States International, Inc. (NYSE: OIS) has scheduled its second quarter 2021 earnings conference call for July 29, 2021, at 10:00 a.m. Central Time. The earnings report will be released on July 28, 2021, after market close. The conference call will be available via webcast on the company's website and can be joined by phone for participants in the U.S. and internationally.
Oil States is a global provider of manufactured products and services in energy, industrial, and military sectors, headquartered in Houston, Texas.
Oil States International (NYSE:OIS) has appointed Denise Castillo-Rhodes to its Board of Directors as a Class II Director, with her term expiring in May 2024. She will also serve on the Audit Committee. Castillo-Rhodes brings extensive experience in accounting and finance, currently serving as CFO for Texas Medical Center. This appointment aims to enhance the board's expertise as the company navigates the evolving energy sector.
Oil States International reported a net loss of $15.8 million or $0.26 per share for Q1 2021, impacted by $0.7 million in asset impairment charges and $3.4 million in restructuring costs. Despite this, revenues reached $125.6 million, an increase from $137.4 million in Q4 2020. Adjusted EBITDA was $6.1 million. The firm secured a $125 million asset-based credit facility and issued $135 million in convertible notes. Severe winter weather negatively influenced operations, but March saw a recovery in revenue. Bookings improved to $70 million.
Oil States International (NYSE: OIS) has scheduled its Q1 2021 earnings conference call for April 29, 2021, at 9:00 a.m. CT. This call will discuss financial results for the quarter ending March 31, 2021, which will be released on April 28, 2021, after market close.
The conference will be accessible via webcast on Oil States' website. Interested participants may also join by phone using the provided contact information. A replay will be available 90 minutes following the call. Oil States is a global provider in the oil and natural gas sector, headquartered in Houston, Texas.
Oil States International has announced a private offering of $135 million in 4.75% convertible senior notes due 2026. The transaction includes an option for initial purchasers to buy an additional $15 million in notes. The notes will have a conversion price of approximately $10.49 per share, representing a 25% premium to the recent stock price. The company plans to use about $120 million of the proceeds to repurchase existing convertible notes due 2023. The offering is expected to close on March 19, 2021, subject to customary conditions.
Oil States International (NYSE:OIS) has announced plans to offer $135 million in convertible senior notes due 2026, with an additional option for $15 million. These senior, unsecured notes will be convertible into cash or shares, with interest payable semi-annually. Proceeds will be used for repurchasing existing convertible notes due 2023 and general corporate purposes. The offering is subject to market conditions and will not be registered under the Securities Act. The company also cautions about risks impacting the offering and future performance.
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