Oil States International Reports Improved Q2 Earnings Amid Stronger Backlog
Oil States International (NYSE:OIS) reported second-quarter revenue of $157 million, up 8% sequentially, with adjusted EBITDA rising to $19 million—a 14% increase. The growth was driven by improved performance in its Downhole Technologies and Completion and Production Services segments. The company's Offshore Manufactured Products backlog reached a more-than-decade high of $451 million as of June 30, up 24% year-over-year but with some revenue expected to shift from 2026 into 2027 due to delayed project awards. Management maintained its full-year guidance for revenue between $640 million and $660 million and adjusted EBITDA in the range of $77 million to $83 million. CEO Lloyd Hajdik noted ongoing challenges from volatile commodity prices, geopolitical tensions, supply disruptions, and moderated global economic growth. Despite these headwinds, Oil States reported a book-to-bill ratio of 1.2 times for the quarter and expects at least one times full-year performance.
Tickers: $OIS
Topics: earnings report ebitda improvement oil and gas revenue growth