secwatch.observer — SEC 8-K summary
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Issuer:     OIL STATES INTERNATIONAL, INC (OIS)
CIK:        0001121484
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001121484-23-000047
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1121484/000112148423000047/0001121484-23-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1121484/000112148423000047/ois-20230427.htm
  HTML page:      https://secwatch.observer/filing/0001121484-23-000047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer