Oil States Q4 net income $2.9M, rev $202.4M; backlog hits $308M, $25M buyback approved

OIL STATES INTERNATIONAL, INC

2022-FY EPS reported -$0.15 revenue$737,706,000

Net income $2.9M ($0.05 diluted EPS) vs $2.1M ($0.03) in Q3; revenue $202.4M, up 7% sequentially and 25% YoY.
Adjusted EBITDA $20.5M, down 6% sequentially but up 53% YoY; excluding Q3 litigation gain, up 30% sequentially.
Offshore/Manufactured Products backlog $308M, highest since Q4 2015, up 19% sequentially; book-to-bill 1.5x in Q4.
Board approved $25M stock repurchase plan extending through February 2025.
Director Christopher T. Seaver to retire at May 2023 annual meeting; not due to disagreement.

item 2.02 item 5.02 item 9.01

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Departed

Christopher T. Seaver

Director

OIS · OIL STATES INTERNATIONAL, INC

Effective: 2023-05-09
Filed: February 16, 2023, 6:59 PM ET

On February 16, 2023, Christopher T. Seaver informed the Company's Board of Directors (the "Board") of his decision to retire from the Company's Board at the conclusion of his current term expiring at the upcoming 2023 Annual Meeting of Stockholders to be held on May 9, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

OIL STATES INTERNATIONAL, INC reported the year ended December 31, 2022 results: revenue $737.7 million, net income net loss of $9.5 million, EPS $0.15 per share.

Period: the year ended December 31, 2022
Revenue: $737.7 million
Net income: net loss of $9.5 million
EPS: $0.15 per share
Result: reported results

Exact text from the filing

For the year ended December 31, 2022, the Company reported a net loss of $9.5 million, or $0.15 per share, revenues of $737.7 million and Adjusted EBITDA of $74.0 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

OIL STATES INTERNATIONAL, INC reported the quarter ended December 31, 2022 results: revenue $202.4 million, net income $2.9 million, EPS $0.05 per diluted share.

Period: the quarter ended December 31, 2022
Revenue: $202.4 million
Net income: $2.9 million
EPS: $0.05 per diluted share
Result: reported results

Exact text from the filing

Oil States International, Inc. (NYSE: OIS) reported net income of $2.9 million, or $0.05 per share, for the fourth quarter of 2022 on revenues of $202.4 million and Adjusted EBITDA of $20.5 million.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Christopher T. Seaver departed as Director at OIL STATES INTERNATIONAL, INC.

Action: retire
Role: Director

Exact text from the filing

On February 16, 2023, Christopher T. Seaver informed the Company's Board of Directors (the "Board") of his decision to retire from the Company's Board at the conclusion of his current term expiring at the upcoming 2023 Annual Meeting of Stockholders to be held on May 9, 2023.

View on SEC.gov

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Source: SEC EDGAR

accession 0001121484-23-000006

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