Oil States International, Inc. (OIS) Q3 2025 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 31 2025
0mins
Should l Buy OIS?
Source: SeekingAlpha
Consolidated revenues $165 million, with 75% generated from offshore and international projects, up year-over-year due to a strategic shift towards higher-margin offshore and international projects.
Adjusted consolidated EBITDA $21 million, within the guided range, supported by backlog growth and solid project execution.
Net income $2 million or $0.03 per share, including $4 million in charges related to U.S. land restructuring efforts. Adjusted net income was $5 million or $0.08 per share after excluding these charges.
Offshore/Manufactured Products segment revenues $109 million, with adjusted segment EBITDA of $22 million and a margin of 21%, driven by strong performance and product/service mix.
Completion and Production Services segment revenues $28 million, with adjusted segment EBITDA of $8 million and a margin of 29%, despite a 6% sequential revenue decline due to reduced U.S. land-based activity.
Downhole Technologies segment revenues $29 million, with an adjusted segment EBITDA loss of $1 million, impacted by higher costs due to tariffs and lower international activity levels.
Cash flow from operations $31 million, a 105% sequential increase, used to fund $8 million in net CapEx, $4 million in share repurchases, and $6 million in convertible senior note purchases.
Free cash flow $23 million, reflecting strong operational cash flow and disciplined capital allocation.
Backlog $399 million, the highest level since June 2015, with robust bookings of $145 million, a 29% quarter-over-quarter increase, supported by strong military orders.
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Analyst Views on OIS
Wall Street analysts forecast OIS stock price to fall
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 9.060
Low
8.00
Averages
9.00
High
10.00
Current: 9.060
Low
8.00
Averages
9.00
High
10.00
About OIS
Oil States International, Inc. is a global provider of manufactured products and services to customers in the energy, industrial and military sectors. The Company's manufactured products include highly engineered capital equipment and consumable products. It segments include Offshore Manufactured Products, Completion and Production Services, and Downhole Technologies. The Offshore Manufactured Products segment designs, manufactures and markets capital equipment utilized on floating production systems, subsea pipeline infrastructure, and offshore drilling rigs and vessels, along with short-cycle and other products. The Completion and Production Services segment includes a range of equipment and services used to establish and maintain the flow of oil and natural gas from a well throughout its life cycle. The Downhole Technologies segment provides oil and gas perforation systems and downhole tools in support of completion, intervention, wireline and well abandonment operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Oil States International Schedules Q4 2025 Earnings Call
- Earnings Call Announcement: Oil States International, Inc. has scheduled its fourth quarter 2025 earnings conference call for February 20, 2026, at 9:00 a.m. CST, where it will discuss results for the quarter ending December 31, 2025, ensuring timely information dissemination to investors.
- Participation Details: Investors can join the call by dialing 1 (800) 715-9871 in the U.S. or +1 (646) 307-1963 internationally, using passcode 6921148, facilitating global participation and keeping stakeholders informed.
- Webcast Availability: The conference call will be webcast on Oil States' website, allowing those unable to dial in to access real-time financial updates, thereby enhancing corporate transparency and investor relations.
- Replay Access: A replay of the call will be available approximately two hours after its conclusion, accessible via a designated link, further improving information accessibility and interaction between the company and its investors.
See More
Oil States International Schedules Q4 2025 Earnings Call
- Earnings Call Announcement: Oil States International has scheduled its Q4 2025 earnings conference call for February 20, 2026, at 9:00 a.m. CST, where it will discuss results for the quarter ending December 31, 2025, indicating the company's commitment to transparency and investor communication.
- Participation Details: Investors can join the call by dialing 1 (800) 715-9871 in the U.S. or +1 (646) 307-1963 internationally using passcode 6921148, ensuring accessibility for global investors and enhancing interaction between the company and its stakeholders.
- Webcast Availability: The call will be webcast on Oil States' website, broadening the information dissemination channels and allowing investors who cannot dial in to access real-time financial information, thus improving information accessibility.
- Replay Accessibility: A replay of the call will be available approximately two hours after its conclusion, allowing investors who missed the live event to review the discussion, reflecting the company's attentiveness to investor needs and service orientation.
See More
Oil States International Secures $125M Credit Agreement
- Credit Agreement Signed: Oil States International announced a new credit agreement with total commitments of $125 million, including a $75 million revolving credit facility and a $50 million multi-draw term loan, which is expected to enhance the company's liquidity and financial flexibility.
- Convertible Bond Buyback: The company repurchased $50 million of its 4.75% convertible senior notes in Q4 2025, with $53 million remaining outstanding at year-end, and plans to retire the remaining debt using cash and credit facility borrowings, thereby reducing financial costs.
- Cash Flow Position: Currently, the company has $70 million in cash and no outstanding borrowings, which supports its future investment and operational needs, enhancing market confidence in its financial health.
- Growth Outlook: Oil States anticipates revenue growth of 8% to 13% in Q4 2025, primarily driven by offshore bookings, indicating positive progress in its long-term growth strategy.
See More
Oil States International Signs New Credit Agreement
- Credit Agreement Update: Oil States International's newly signed Cash Flow Credit Agreement provides total commitments of $125 million, including a $75 million revolving credit facility and a $50 million multi-draw term loan, which is expected to enhance the company's liquidity and financial flexibility.
- Interest Rate Structure: Borrowing rates under the agreement are set at Term SOFR plus a margin of 2.50% to 3.50% or a base rate plus 1.50% to 2.50%, depending on the company's net leverage ratio, which will impact financing costs and profit margins.
- Asset Collateralization: Obligations under the credit agreement are secured by a pledge of nearly all of the company's and guarantors' assets located in the U.S., ensuring creditor rights while reflecting the company's asset management capabilities and commitment to financial stability.
- Debt Management Strategy: The company intends to extinguish the remaining 2026 convertible senior notes using a combination of cash on hand and borrowings under the credit agreement, demonstrating a proactive approach to debt management aimed at reducing financial risk and optimizing capital structure.
See More
Oil States International Amends Credit Agreement with $125 Million Commitments
- Credit Agreement Amendment: Oil States International has announced an amended Cash Flow Credit Agreement with total commitments of $125 million, including a $75 million revolving credit facility and a $50 million multi-draw term loan, which is expected to enhance the company's liquidity and financial flexibility.
- Interest Rate Structure: Under the Cash Flow Credit Agreement, borrowings will bear interest at Term SOFR plus a margin of 2.50% to 3.50% or at a base rate plus a margin of 1.50% to 2.50%, ensuring manageable financing costs under varying market conditions.
- Asset Collateralization: The outstanding obligations under the credit agreement are secured by a pledge of nearly all assets of the company and guarantors located in the U.S., along with stock of certain foreign subsidiaries, which enhances creditor security and reduces financing risks.
- Future Debt Repayment Plans: The company intends to utilize cash on hand and borrowings under the credit agreement to extinguish the remaining 2026 convertible senior notes, ensuring a robust financial structure and optimizing its capital framework.
See More
Mid-to-Low Cap Energy Stocks Face Weak EPS Revisions
- Pessimistic Earnings Outlook: Mid-to-low cap energy stocks like Advantage Energy and Forum Energy Technologies have received an 'F' grade for EPS revisions, indicating significant downward adjustments by analysts, reflecting a lack of market confidence in these companies.
- Wide Industry Distribution: These stocks span various subsectors including oil and gas exploration, equipment services, storage and transportation, and refining and marketing, suggesting that the entire energy sector is facing widespread challenges in the current economic environment, which may impact overall investor confidence.
- Consistent Analyst Ratings: All listed companies have been rated at the lowest level, demonstrating analysts' general concerns about their future profitability, which could lead to increased risk aversion among investors and negatively affect market performance.
- Potential Market Reaction: As the earnings season kicks off, investors may remain cautious regarding these stocks, especially against the backdrop of widespread EPS downgrades by analysts, potentially leading to further pressure on their stock prices.
See More
Oil States International Schedules Q4 2025 Earnings Call
- Earnings Call Announcement: Oil States International, Inc. has scheduled its fourth quarter 2025 earnings conference call for February 20, 2026, at 9:00 a.m. CST, where it will discuss results for the quarter ending December 31, 2025, ensuring timely information dissemination to investors.
- Participation Details: Investors can join the call by dialing 1 (800) 715-9871 in the U.S. or +1 (646) 307-1963 internationally, using passcode 6921148, facilitating global participation and keeping stakeholders informed.
- Webcast Availability: The conference call will be webcast on Oil States' website, allowing those unable to dial in to access real-time financial updates, thereby enhancing corporate transparency and investor relations.
- Replay Access: A replay of the call will be available approximately two hours after its conclusion, accessible via a designated link, further improving information accessibility and interaction between the company and its investors.
See More
Oil States International Schedules Q4 2025 Earnings Call
- Earnings Call Announcement: Oil States International has scheduled its Q4 2025 earnings conference call for February 20, 2026, at 9:00 a.m. CST, where it will discuss results for the quarter ending December 31, 2025, indicating the company's commitment to transparency and investor communication.
- Participation Details: Investors can join the call by dialing 1 (800) 715-9871 in the U.S. or +1 (646) 307-1963 internationally using passcode 6921148, ensuring accessibility for global investors and enhancing interaction between the company and its stakeholders.
- Webcast Availability: The call will be webcast on Oil States' website, broadening the information dissemination channels and allowing investors who cannot dial in to access real-time financial information, thus improving information accessibility.
- Replay Accessibility: A replay of the call will be available approximately two hours after its conclusion, allowing investors who missed the live event to review the discussion, reflecting the company's attentiveness to investor needs and service orientation.
See More
Oil States International Secures $125M Credit Agreement
- Credit Agreement Signed: Oil States International announced a new credit agreement with total commitments of $125 million, including a $75 million revolving credit facility and a $50 million multi-draw term loan, which is expected to enhance the company's liquidity and financial flexibility.
- Convertible Bond Buyback: The company repurchased $50 million of its 4.75% convertible senior notes in Q4 2025, with $53 million remaining outstanding at year-end, and plans to retire the remaining debt using cash and credit facility borrowings, thereby reducing financial costs.
- Cash Flow Position: Currently, the company has $70 million in cash and no outstanding borrowings, which supports its future investment and operational needs, enhancing market confidence in its financial health.
- Growth Outlook: Oil States anticipates revenue growth of 8% to 13% in Q4 2025, primarily driven by offshore bookings, indicating positive progress in its long-term growth strategy.
See More
Oil States International Signs New Credit Agreement
- Credit Agreement Update: Oil States International's newly signed Cash Flow Credit Agreement provides total commitments of $125 million, including a $75 million revolving credit facility and a $50 million multi-draw term loan, which is expected to enhance the company's liquidity and financial flexibility.
- Interest Rate Structure: Borrowing rates under the agreement are set at Term SOFR plus a margin of 2.50% to 3.50% or a base rate plus 1.50% to 2.50%, depending on the company's net leverage ratio, which will impact financing costs and profit margins.
- Asset Collateralization: Obligations under the credit agreement are secured by a pledge of nearly all of the company's and guarantors' assets located in the U.S., ensuring creditor rights while reflecting the company's asset management capabilities and commitment to financial stability.
- Debt Management Strategy: The company intends to extinguish the remaining 2026 convertible senior notes using a combination of cash on hand and borrowings under the credit agreement, demonstrating a proactive approach to debt management aimed at reducing financial risk and optimizing capital structure.
See More
Oil States International Amends Credit Agreement with $125 Million Commitments
- Credit Agreement Amendment: Oil States International has announced an amended Cash Flow Credit Agreement with total commitments of $125 million, including a $75 million revolving credit facility and a $50 million multi-draw term loan, which is expected to enhance the company's liquidity and financial flexibility.
- Interest Rate Structure: Under the Cash Flow Credit Agreement, borrowings will bear interest at Term SOFR plus a margin of 2.50% to 3.50% or at a base rate plus a margin of 1.50% to 2.50%, ensuring manageable financing costs under varying market conditions.
- Asset Collateralization: The outstanding obligations under the credit agreement are secured by a pledge of nearly all assets of the company and guarantors located in the U.S., along with stock of certain foreign subsidiaries, which enhances creditor security and reduces financing risks.
- Future Debt Repayment Plans: The company intends to utilize cash on hand and borrowings under the credit agreement to extinguish the remaining 2026 convertible senior notes, ensuring a robust financial structure and optimizing its capital framework.
See More
Mid-to-Low Cap Energy Stocks Face Weak EPS Revisions
- Pessimistic Earnings Outlook: Mid-to-low cap energy stocks like Advantage Energy and Forum Energy Technologies have received an 'F' grade for EPS revisions, indicating significant downward adjustments by analysts, reflecting a lack of market confidence in these companies.
- Wide Industry Distribution: These stocks span various subsectors including oil and gas exploration, equipment services, storage and transportation, and refining and marketing, suggesting that the entire energy sector is facing widespread challenges in the current economic environment, which may impact overall investor confidence.
- Consistent Analyst Ratings: All listed companies have been rated at the lowest level, demonstrating analysts' general concerns about their future profitability, which could lead to increased risk aversion among investors and negatively affect market performance.
- Potential Market Reaction: As the earnings season kicks off, investors may remain cautious regarding these stocks, especially against the backdrop of widespread EPS downgrades by analysts, potentially leading to further pressure on their stock prices.
See More
