Oil States International, Inc.
Built from real-time financials, refreshed daily. For a full Analyst Grade with bull/bear case, price targets, and qualitative risk analysis, generate a OIS research report →
Range $11 – $14
Price Chart
About the company
Oil States International, Inc. (OSI), a global entity operating via its various subsidiaries, delivers a comprehensive suite of products and services tailored for the worldwide oil and gas industry. Its offerings span critical areas such as drilling, completion, subsea operations, production, and infrastructure development.
- CEO
- Lloyd A. Hajdik
- IPO
- 2001
- Employees
- 2,172
- HQ
- Houston, TX, US
Get TickerSpark's AI analysis on OIS
Create an account to generate AI analysis on any ticker — technical setup, analyst consensus, earnings watch, insider pulse, financial health, and peer context. Ready in about a minute.
Get Pro Access →Already have an account? Log in
Similar companies
Peers in the same neighborhood.
- Market Cap
- $521.27M
- P/E
- -4.62
- Fwd P/E
- 15.46
- PEG
- 0.00
- P/S
- 0.84
- P/B
- 0.87
- EV/EBITDA
- -7.49
- Div Yield
- 0.00%
- Gross Margin
- 12.33%
- Op Margin
- -2.17%
- Net Margin
- -17.27%
- ROE
- -17.80%
- ROIC
- -2.09%
Latest fiscal year · YoY change
- Revenue
- $668.99M-3.4%
- Gross Profit
- $85.81M-19.7%
- Op Income
- $-4,610,000
- Net Income
- $-109,377,000-871.5%
- EPS
- $-1.86-933.3%
- OCF Growth
- +129.1%
- FCF Growth
- +781.6%
- 52W High
- $14.50
- 52W Low
- $5.01
- 50D MA
- $8.31
- 200D MA
- $8.93
- Beta
- 1.12
- RSI (14)
- 52
- Avg Volume
- 721.93K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Oil States posted higher sequential revenue and EBITDA in Q2, reached decade-high backlog, and maintained full-year guidance despite contract timing delays and margin pressure in Downhole Technologies.· July 30, 2026
- Q2 revenue was $157 million and adjusted EBITDA was $19 million, both up 8% and 14% sequentially.
- Net income was $6 million, or $0.10 per share; adjusted net income was $8 million, or $0.14 per share.
- Backlog rose to $451 million, the highest in more than 10 years, with a 1.2x book-to-bill ratio and management still expecting full-year book-to-bill of 1x or greater.
- Full-year guidance was reiterated at $640 million-$660 million of revenue and $77 million-$83 million of adjusted EBITDA; Q3 guidance was $157 million-$167 million of revenue and $18 million-$20 million of adjusted EBITDA.
- Cash flow should improve in the second half as working capital unwinds, while military awards and delayed offshore orders are expected to support future revenue.
Oil States reported Q2 2026 revenue of $157 million, up 8% sequentially, and adjusted EBITDA of $19 million, up 14% sequentially. Net income was $6 million, or $0.10 per share, and adjusted net income was $8 million, or $0.14 per share. Offshore Manufactured Products revenue was $93 million with segment EBITDA of $18 million, or above 19% margin; Completion and Production Services revenue was $24 million with segment EBITDA of $7 million and about 27% margin; Downhole Technologies revenue was $40 million with segment EBITDA of $4 million. Backlog was $451 million, up 5% sequentially and 24% year over year, and book-to-bill was 1.2x. For Q3, the company guided to revenue of $157 million-$167 million and adjusted EBITDA of $18 million-$20 million. Full-year guidance is revenue of $640 million-$660 million and adjusted EBITDA of $77 million-$83 million. Free cash flow is expected to be $35 million-$40 million for the full year, excluding any incremental second-half asset sales that could add $5 million-$10 million. Cash on hand at June 30 was $20 million and debt was $18 million.
Lloyd Hajdik emphasized that Oil States is benefiting from a strategic mix shift toward offshore, international, and higher-margin differentiated products, with over 70% of first-half 2026 revenue tied to offshore and international activity versus about 50% in 2023. He said the company remains positioned for a longer-cycle deepwater upcycle, citing energy security, low inventories, limited spare capacity, and customer interest in offshore and subsea development. His tone was constructive but measured, repeatedly noting that near-term timing can be volatile because of geopolitical disruptions and contract delays.
Matt Autenrieth highlighted the quarter’s sequential growth in revenue and EBITDA, along with the quality of earnings after adjusting for note extinguishment, facility exit, and transition charges. He pointed to segment margins of above 19% in Offshore Manufactured Products and about 27% in Completion and Production Services, while noting Downhole Technologies was helped by stronger demand and mix but still faces elevated input costs for tungsten, explosive powder, and copper. He also detailed cash usage of $6 million from operations, $7 million of asset-sale proceeds versus $3 million of capex, $19 million of assets held for sale, $20 million of cash, $18 million of debt, and $5 million of share repurchases during the quarter.
Analysts focused on backlog quality, margin upside, Downhole recovery, free cash flow, and the outlook for military and offshore orders. Management said Offshore Manufactured Products margins are currently around the 20% level, with potential to move into the low 20s in 2027 and beyond as backlog grows and mix improves. On Downhole, Lloyd said the improvement was driven more by a better U.S. land market and stronger perforating/completion tool demand than by restructuring, and Matt said working capital should unwind in the second half, helping full-year free cash flow of $35 million-$40 million. On military, Lloyd said Block 6 awards are multi-year and should start generating revenue in 2027, while non-block orders continue at a smaller annual pace.
The bull case is that backlog is at a decade high, bookings remain ahead of revenue at 1.2x book-to-bill, and management sees full-year book-to-bill staying at 1x or better. The company is also benefiting from a favorable mix shift toward offshore, international, and military programs, with management saying margins could improve further as backlog converts and higher-value products ramp.
The main risks raised were timing delays in offshore and connector orders tied to Middle East disruptions, which will push some revenue from 2026 into 2027. Downhole Technologies also faces elevated raw material costs and charge powder availability issues, and management acknowledged that quarter-to-quarter results can vary because of customer schedules, geopolitics, and contract timing.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 91.8%
- Shares Outstanding
- 60.19M
- Float Shares
- 55.25M
of shares held by institutions
219 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 6.82M | ▲ 508.65K |
| Vanguard Group Inc | 4.48M | ▼ 18.15K |
| Dimensional Fund Advisors LP | 3.01M | ▼ 515.65K |
| Vanguard Capital Management LLC | 2.42M | ▲ 547 |
| American Century Companies Inc | 2.21M | ▲ 364.87K |
| Acadian Asset Management LLC | 2.04M | ▼ 310.10K |
| D. E. Shaw & Co., Inc. | 2.02M | ▼ 149.32K |
| First Eagle Investment Management, LLC | 2.01M | ▼ 38.03K |
| State Street Corp | 1.98M | ▲ 247.41K |
| Aqr Capital Management LLC | 1.74M | ▼ 87.81K |
| Geode Capital Management, LLC | 1.45M | ▲ 87.92K |
| Two Sigma Investments, LP | 1.44M | ▲ 371.47K |
Held by 163 ETFs
Biggest fund positions in OIS by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jun 30, 26 | POTTER ROBERT L | other | 1,561 |
| May 12, 26 | Wright E Joseph | other | 16,760 |
| May 12, 26 | Vanderhider Hallie A. | other | 16,760 |
| May 12, 26 | POTTER ROBERT L | other | 16,760 |
| May 12, 26 | Hollek Darrell E | other | 16,760 |
| May 12, 26 | DICKERSON LAWRENCE R | other | 16,760 |
| May 12, 26 | Castillo-Rhodes Denise | other | 16,760 |
| May 1, 26 | Autenrieth Matthew Earl | other | 35,619 |
| May 1, 26 | Autenrieth Matthew Earl | other | 0 |
| May 1, 26 | Moses Philip Scott | other | 13,357 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our OIS coverage
Recent articles, reports, and earnings notes.
Want a deeper read on OIS?
Generate a full analyst-grade report — bull/bear case, price targets, valuation depth, and a complete financial breakdown.
Implied Volatility Surging for Oil States International Stock Options
zacks.com · Aug 19
Oil States International: The Backlog Is Real, And The Balance Sheet Adds Protection
seekingalpha.com · Aug 5
Zacks Industry Outlook NOV, Oil States International and Natural Gas Services
zacks.com · Aug 3
Oil States International Q2 Earnings Call Highlights
marketbeat.com · Jul 31
3 Oilfield Equipment Stocks That Can Thrive Amid Industry Headwinds
zacks.com · Jul 31
Oil States International, Inc. (OIS) Q2 2026 Earnings Call Transcript
seekingalpha.com · Jul 30
Oil States International (OIS) Tops Q2 Earnings and Revenue Estimates
zacks.com · Jul 30
Oil States Announces Second Quarter 2026 Results
businesswire.com · Jul 30
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
