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Sep 30, 2022
Oil States Q3 2022 Earnings Report
Oil States reported improved results driven by increased activity and demand, achieving net income positivity and strong cash flow.
Key Takeaways
Oil States International, Inc. reported net income of $2.1 million, or $0.03 per share, for the third quarter of 2022. The company generated revenues of $189.4 million and Adjusted Consolidated EBITDA of $22.0 million. The results showed improvement compared to the second quarter of 2022, with positive net income and sequential improvements across all business segments.
Net income was positive for the quarter, with earnings of $2.1 million, or $0.03 per share.
Revenues increased to $189.4 million, compared to $181.8 million in the previous quarter.
Generated $29.0 million in cash flow from operations during the quarter.
Backlog totaled $258 million as of September 30, with a quarterly book-to-bill ratio of 1.2x.
Revenue by Segment
Forward Guidance
The outlook for the business continues to be strong, despite macroeconomic challenges due to low global inventories of crude oil and related products. The company is focused on proactively managing supply chain and inflationary impacts to the business in order to support the growing needs of its customer base.
Positive Outlook
- Strong business outlook despite macroeconomic challenges.
- Focus on managing supply chain and inflationary impacts.
- Commitment to supporting the growing needs of the customer base.
- Further deleveraging.
- Improving stockholder returns through prudent capital allocation.
Challenges Ahead
- Macroeconomic challenges due to low global inventories of crude oil.
- Supply chain impacts.
- Inflationary impacts.
- Geopolitical tensions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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