Oil States Q1 net income $2.2M, revenue $196.2M, backlog grows to $326M

OIL STATES INTERNATIONAL, INC

2023-Q1 EPS reported $0.03 revenue$196,199,000

Net income of $2.2M ($0.03 diluted EPS) vs. $2.9M ($0.05) in Q4 2022; revenue $196.2M, up 20% YoY but down 3% sequentially.
Adjusted EBITDA $21.4M, up 4% sequentially and 48% YoY; Offshore/Manufactured Products backlog $326M, highest since 2015.
Well Site Services Adjusted EBITDA rose 6% sequentially to $13.2M; Downhole Technologies Adjusted EBITDA surged 164% to $2.8M.
Repaid $17.3M convertible notes in Feb; Board approved $25M stock repurchase plan (no buybacks in Q1); liquidity $108.6M.
Received multiple industry awards including two OTC Spotlight awards and NOIA Safety in Seas Culture of Safety Award.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OIL STATES INTERNATIONAL, INC reported the quarter ended March 31, 2023 results: revenue $196,199, net income $2,158, EPS $0.03.

Period: the quarter ended March 31, 2023
Revenue: $196,199
Net income: $2,158
EPS: $0.03
Result: reported results

Exact text from the filing

Ended % Change (Unaudited, In Thousands, Except Per Share Amounts) March 31, 2023 December 31, 2022 March 31, 2022 Sequential Year-over-Year Consolidated results: Revenues $ 196,199 $ 202,434 $ 164,044 (3) % 20 % Operating income (loss) $ 5,875 $ 3,273 $ (4,336) 79 % nm Net income (loss) $ 2,158 $ 2,885 $ (9,424) (25) % nm Diluted earning per share $ 0.03 $

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accession 0001121484-23-000047

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