Oil States International Reports Strong Q2 2026 Performance with High Backlog and Revenue Growth
Oil States International reported a strong second-quarter performance in 2026, achieving a book-to-bill ratio of 1.2x and securing a decade-high backlog of $451 million. The company attributed its sequential revenue and EBITDA growth to strategic improvements in technology portfolio management and disciplined execution within the Completion and Production Services and Downhole Technologies segments. Despite near-term delays caused by geopolitical tensions in the Middle East, long-cycle deepwater investment remains robust due to increased demand for secure energy sources. The Downhole Technologies segment saw significant improvement from stronger perforating and completion product sales, although it continues to face challenges with rising raw material costs and powder availability issues. The company expects delayed orders to shift into 2027 revenue recognition and forecasts full-year 2026 revenue between $640 million and $660 million. Adjusted EBITDA is projected in the range of $77 million to $83 million, with a book-to-bill ratio expected at or above 1x for the year.
Tickers: $OIS
Topics: energy infrastructure financial performance oil and gas