Oil States Announces Third Quarter 2026 Results
Key Highlights
- ➤Revenue $169.8 million, up 8% sequentially and 3% year-over-year
- ➤Adjusted EBITDA $20.1 million, up 6% sequentially
- ➤Offshore backlog $482 million, highest since December 2014
- ➤Offshore bookings $135 million, producing a 1.3x book-to-bill ratio
- ➤New $50 million stock repurchase authorization extends through October 2028
Expert Statements
Lloyd Hajdik, President and Chief Executive Officer of Oil States International
“Our third quarter results exceeded the guidance we provided back in July and reflect continued execution across our diversified portfolio and the resilience of our offshore and international operations.”
Lloyd Hajdik, President and Chief Executive Officer of Oil States International
“Revenues increased 8% sequentially, driven by strong demand within our Offshore Manufactured Products and Downhole Technologies segments.”
Lloyd Hajdik, President and Chief Executive Officer of Oil States International
“We generated Adjusted EBITDA of $20.1 million.”
Lloyd Hajdik, President and Chief Executive Officer of Oil States International
“Contract bookings in our Offshore Manufactured Products segment increased 18% sequentially to $135 million, resulting in a book-to-bill ratio of 1.3x and backlog reaching its highest level since December 2014.”
Lloyd Hajdik, President and Chief Executive Officer of Oil States International
“Looking ahead, we remain focused on expanding our backlog, delivering profitable growth and strong cash flows, and returning capital to stockholders through disciplined capital allocation.”
Lloyd Hajdik, President and Chief Executive Officer of Oil States International
“Backed by our global manufacturing, engineering and service capabilities, strong financial position and ongoing strategic initiatives, we believe Oil States is well positioned to benefit from a constructive multi-year offshore and international investment cycle.”
Lloyd Hajdik, President and Chief Executive Officer of Oil States International
“Our innovative, technologically advanced product and service offerings, combined with disciplined execution and selective growth investments, provide a strong foundation for sustainable long-term stockholder value creation.”
Consolidated revenues of $170 million increased 8% sequentially
* Adjusted net income totaled $8 million, or $0.15 per share, excluding charges (a non-GAAP measure((1)))
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