Oil States International Reports Q3 2026 Revenue Growth and 12-Year High Backlog
Oil States International (OIS) reported third-quarter revenue of $169.8 million, an 8% sequential increase driven by robust demand in offshore and international markets. The company achieved a significant milestone with its backlog reaching $482 million, the highest level in nearly 12 years, representing a 21% increase year-over-year. This growth is heavily supported by the Offshore/Manufactured Products segment and substantial military contract awards. Despite the top-line growth, net income was impacted by $5.5 million in charges related to executive transitions and facility exits. While offshore revenue now constitutes 72% of year-to-date consolidated revenue, certain segments like Downhole Technologies faced margin pressure due to rising raw material costs and explosive powder availability. Looking ahead, the company issued optimistic Q4 guidance for revenue between $172 million and $184 million and authorized a new $50 million share repurchase program.
Tickers: $OIS
Topics: Backlog Increase EBITDA Revenue Growth Segment Performance
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