OIS earnings analysis
What we found in OIS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Oil States International (OIS) reported Q1 2026 revenue of $145.4 million, a decline of $14.6 million or 9% year-over-year, missing estimates by $8.3 million. The company achieved EPS of $0.09, exceeding estimates by $0.01, but faced operational challenges due to geopolitical tensions and restructuring costs. Adjusted figures show a decrease in segment revenues for both Completion and Production Services and Offshore Manufactured Products, while the Downhole Technologies segment remained stable.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- EPS Exceeds Estimates
- Reported EPS for Q1 2026 was $0.09, outperforming estimates of $0.08 by 12.5%.
- Revenue Declines
- Revenue fell to $145.4 million, down 9% from $159.9 million in Q1 2025.
- Stability in Downhole Tech
- Downhole Technologies segment revenue slightly decreased by 1%, showing resilience amid market pressures.
- Increased Product Costs
- Product costs in Q1 2026 were $74.4 million, reflecting a decrease of $6 million from $80.3 million in Q1 2025.
- Operating Margin Improvement
- Operating income improved slightly to $4.3 million from $5.6 million year-over-year, despite lower revenues.
- Cash Flow Management
- Used $1.9 million in cash flows from operations in Q1 2026, showing ongoing cash management challenges.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Geopolitical Risks
- Increased tensions in the Middle East have led to higher operational costs and project delays, affecting revenues.
- Declining Land-Based Services
- Completion and Production Services segment saw a revenue drop of 38% year-over-year, impacting overall performance.
- Operating Losses in Corporate
- Corporate expenses increased to $13.2 million from $10 million, including $2.5 million in charges for facility exits.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.09
- Segment
- Offshore Manufactured Products: $91.4M
- Segment
- Completion and Production Services: $21.5M
- Segment
- Downhole Technologies: $32.4M
What they said about what is next.
Management did not provide numeric guidance; outlook remains uncertain due to geopolitical and economic factors.
The filing reads about the same as the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing OIS makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever