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Dec 31, 2021
Oil States Q4 2021 Earnings Report
Oil States reported a net loss with increased revenues and adjusted consolidated EBITDA.
Key Takeaways
Oil States International, Inc. reported Q4 2021 results with a net loss of $19.9 million, or $0.33 per share. Revenues were $161.3 million and Adjusted Consolidated EBITDA was $13.4 million. The company's Offshore/Manufactured Products segment led the growth, while the Well Site Services segment experienced a revenue decrease due to seasonal factors and hurricane recovery efforts.
Consolidated revenues increased sequentially by 15% and Adjusted Consolidated EBITDA increased sequentially by 57%.
Offshore/Manufactured Products segment revenues increased by 34% sequentially, driven by higher sales of project-driven production, testing and connector products.
Well Site Services segment revenues decreased 6% from the prior quarter due to seasonal decline and hurricane recovery efforts.
Backlog grew to $260 million at December 31, 2021 with quarterly bookings of $105 million.
Forward Guidance
The company is focused on delivering superior products and services to its customers, which are expected to provide sustainable returns to the Company and its stakeholders as industry activity continues to recover from the harsh effects of the COVID-19 pandemic. The company is focused on profitable product and service lines and will allocate capital accordingly.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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