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Jun 30, 2022
Oil States Q2 2022 Earnings Report
Oil States experienced revenue and EBITDA growth for the third consecutive quarter, driven by increased activity in the Offshore/Manufactured Products and Well Site Services segments, while settling legal disputes and investing in new technologies.
Key Takeaways
Oil States International, Inc. reported a net loss of $5.1 million, or $0.08 per share, for the second quarter of 2022, with revenues of $181.8 million and Consolidated EBITDA of $17.0 million. The company saw sequential growth in revenues and EBITDA, driven by strong performance in the Offshore/Manufactured Products and Well Site Services segments, while also settling legal disputes and introducing new technologies.
Consolidated revenues and EBITDA grew sequentially for the third consecutive quarter, reaching $181.8 million and $17.0 million, respectively.
Offshore/Manufactured Products segment revenues increased by 15% due to a 21% rise in project-driven revenues and higher demand for short-cycle products.
Well Site Services segment revenues increased by 14% sequentially, driven by higher land-based completion and production activity, with a 61% increase in segment EBITDA.
The company settled the promissory note and resolved outstanding legal disputes with the seller of GEODynamics.
Forward Guidance
No specific forward guidance is provided in the document.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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