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Mar 31, 2022
Oil States Q1 2022 Earnings Report
Reported a net loss with revenues exceeding projections, driven by improved commodity prices and favorable sales mix.
Key Takeaways
Oil States International reported first quarter 2022 results with revenues of $164.0 million and a net loss of $9.4 million, or $0.16 per share. The company's consolidated revenues and EBITDA reached the highest level since the start of the pandemic, driven by improved commodity prices and a favorable sales mix in the Offshore/Manufactured Products segment. Backlog grew to $265 million, and the company acquired E-Flow Control Holdings Limited after the quarter ended.
Consolidated revenues and EBITDA increased sequentially to $164.0 million and $14.5 million, respectively.
Adjusted Segment EBITDA for Offshore/Manufactured Products increased $1.9 million, or 14%, sequentially totaling $15.6 million.
Well Site Services segment revenues increased 11% sequentially due primarily to higher customer activity in the U.S. Mid-Continent and Gulf Coast regions.
Downhole Technologies segment revenues increased 23% from the fourth quarter, driven by higher demand internationally and improved U.S. sales.
Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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