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Earnings analysis · 10-Q

OIS earnings analysis

Filed May 5, 2026 · Our reading of the company's report

The latest report

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…

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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.

Read the original on SEC.gov

Where revenue came from

The business segments reported by the company.

Offshore Manufactured Products 62.9% Downhole Technologies 22.3% Completion and Production Services 14.8%

Shares of the segments disclosed in this filing, largest first.

Reported figures

Earnings per share
$0.09

What stood out

  • 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.

What to watch

  • 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.

Management's outlook

Management did not provide numeric guidance; outlook remains uncertain due to geopolitical and economic factors.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.