| --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------|----------------------------------------------------------|-----------|------------------------------------|----------|----------------------------------|----------------| | information regarding selected | balance sheet accounts as | of June | 30, 2024 and \nJune 30, 2024 | December | 31, 2023 \nDecember 31, 2023 | is presented | | Accounts receivable, net: | | | | | | | | Trade | | $ | 131,745 | $ | 128,405 | | | Unbill ...

This quarterly report represents an earnings surprise of 75%. A quarter ago, it was expected that this energy services company would post a loss of $0.01 per share when it actually produced a loss of $0.03, delivering a surprise of -200%. Oil States International, which belongs to the Zacks Oil and Gas - Mechanical and and Equipment industry, posted revenues of $186.38 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.69%. This compares to year-ago revenues of $183.53 mil ...

(1) Oil States' President and Chief Executive Officer, Cindy B. Taylor, stated: "We continue to focus on improving operations and allocating capital to efficiently and safely provide our customers with advanced technologies and services, while enhancing returns, reducing debt and returning cash to our stockholders. Strong cash flows from operations totaling $10 million allowed for convertible debt and share repurchases in the quarter." Offshore Manufactured Products reported revenues of $101.6 million, oper ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number: 001-16337 OIL STATES INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Delaware 76-0476605 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ____________________ FORM 10-Q ____________________ ☒ QUARTE ...

Oil States International (OIS) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to earnings of $0.03 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -200%. A quarter ago, it was expected that this energy services company would post earnings of $0.08 per share when it actually produced earnings of $0.11, delivering a surprise of 37.50%.Over the last four qua ...

EXHIBIT 99.1 Oil States Announces First Quarter 2024 Results HOUSTON, April 26, 2024 – Oil States International, Inc. (NYSE: OIS): | | | | | Three Months Ended | | | % Change | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | March 31, | | December 31, | | March 31, | | | | (Unaudited, In Thousands, Except Per Share Amounts) | | 2024 | | 2023 | | 2023 | Sequential | Year-over-Year | | Consolidated results: | | | | | | | | | | Revenues | $ | 167,262 | $ | 208,266 | $ | 196,199 | (20)% | (15)% ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ Form 10-K ____________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file no. 001-16337 Oil States International, Inc. (Exact name of registrant as specified in its charter) i ...

Part I [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) For the nine months ended September 30, 2023, Oil States International reported a net income of $6.9 million, a significant turnaround from a net loss of $12.4 million in the same period of 2022, driven by a 7% increase in revenues to $574.0 million, with total assets of $1.05 billion and strong operating cash flow of $52.4 million | Financial Metric | Nine Months Ended Sep 30, 2023 (in thousands) | Nine Months Ended Sep 30, 2022 (in thousands) | | :--- | :--- | :--- | | **Total Revenues** | $574,017 | $535,272 | | **Operating Income (Loss)** | $15,334 | $(368) | | **Net Income (Loss)** | $6,928 | $(12,425) | | **Diluted EPS** | $0.11 | $(0.20) | | Balance Sheet Item | As of Sep 30, 2023 (in thousands) | As of Dec 31, 2022 (in thousands) | | :--- | :--- | :--- | | **Cash and cash equivalents** | $52,904 | $42,018 | | **Total Assets** | $1,048,020 | $1,064,392 | | **Total Liabilities** | $349,656 | $374,834 | | **Total Stockholders' Equity** | $698,364 | $689,558 | | Cash Flow Activity | Nine Months Ended Sep 30, 2023 (in thousands) | Nine Months Ended Sep 30, 2022 (in thousands) | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $52,377 | $18,993 | | **Net Cash used in Investing Activities** | $(19,116) | $(19,345) | | **Net Cash used in Financing Activities** | $(22,705) | $(17,896) | [Management's Discussion and Analysis (MD&A)](index=19&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the improved financial performance in 2023 to increased customer capital investments and internal cost controls, with the Offshore/Manufactured Products segment benefiting from growth in international offshore projects and a strong liquidity position maintained with $52.9 million in cash and $84.5 million available under its ABL facility [Business Overview and Outlook](index=20&type=section&id=Business%20Overview%20and%20Outlook) The company's business is cyclical and dependent on oil and gas industry activity, with the Offshore/Manufactured Products segment's backlog growing to $348 million, while U.S. land-based segments are affected by a lower U.S. rig count - The Offshore/Manufactured Products segment backlog increased to **$348 million** as of September 30, 2023, up from **$308 million** at the end of 2022 and **$258 million** a year prior[91](index=91&type=chunk) - Bookings for the Offshore/Manufactured Products segment were strong, with a **book-to-bill ratio of 1.2x** for both Q3 2023 and year-to-date[91](index=91&type=chunk) - The average U.S. rig count declined to **649 in Q3 2023** from **761 in Q3 2022**, impacting demand for completion-related products and services[95](index=95&type=chunk) [Results of Operations](index=23&type=section&id=Results%20of%20Operations) In Q3 2023, consolidated revenues rose 3% year-over-year to $194.3 million, while net income nearly doubled to $4.2 million, with the Offshore/Manufactured Products segment driving growth and offsetting declines in Downhole Technologies | Metric (Q3 2023 vs Q3 2022) | Q3 2023 (in thousands) | Q3 2022 (in thousands) | Change | | :--- | :--- | :--- | :--- | | **Total Revenues** | $194,289 | $189,394 | +3% | | **Operating Income** | $6,190 | $5,058 | +22% | | **Net Income** | $4,212 | $2,143 | +96% | | Metric (9M 2023 vs 9M 2022) | 9M 2023 (in thousands) | 9M 2022 (in thousands) | Change | | :--- | :--- | :--- | :--- | | **Total Revenues** | $574,017 | $535,272 | +7% | | **Operating Income (Loss)** | $15,334 | $(368) | N/A | | **Net Income (Loss)** | $6,928 | $(12,425) | N/A | - Q3 2023 results included **$1.6 million** in facility consolidation charges, while Q3 2022 results included a **$6.1 million** gain from a litigation settlement[106](index=106&type=chunk) [Segment Operating Results](index=26&type=section&id=Segment%20Operating%20Results) For Q3 2023, the Offshore/Manufactured Products segment's revenue grew 16% YoY to $111.0 million, with operating income increasing to $17.8 million, while Downhole Technologies' revenue fell 29% to $23.4 million, resulting in an operating loss of $4.1 million - **Offshore/Manufactured Products:** Q3 revenue increased **16% YoY** to **$111.0 million**, driven by backlog conversion and higher service sales, with operating income growing to **$17.8 million** despite a **$1.6 million** consolidation charge[120](index=120&type=chunk)[121](index=121&type=chunk) - **Well Site Services:** Q3 revenue decreased **1% YoY** to **$59.9 million**, but operating income improved from **$2.4 million** to **$3.3 million** due to a favorable service mix[123](index=123&type=chunk)[124](index=124&type=chunk) - **Downhole Technologies:** Q3 revenue declined **29% YoY** to **$23.4 million** due to lower U.S. customer activity, leading to an operating loss of **$4.1 million** compared to a **$0.3 million** loss in Q3 2022[125](index=125&type=chunk)[126](index=126&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%2C%20Capital%20Resources%20and%20Other%20Matters) The company's liquidity remains strong, with cash increasing to $52.9 million at quarter-end, year-to-date operating cash flow of $52.4 million, and no borrowings under the ABL facility, which had $84.5 million of availability - Cash and cash equivalents increased to **$52.9 million** as of September 30, 2023, from **$42.0 million** at December 31, 2022[160](index=160&type=chunk) - In February 2023, the company repaid the outstanding **$17.3 million** principal of its 1.50% convertible senior notes due 2023[169](index=169&type=chunk) - As of September 30, 2023, the company had **$84.5 million** available to be drawn under its ABL Facility and was in compliance with all debt covenants[46](index=46&type=chunk)[166](index=166&type=chunk) - A new **$25.0 million** stock repurchase program was authorized in February 2023, with **$3.0 million** used for repurchases during the first nine months of the year[163](index=163&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's main market risks are interest rate fluctuations on its ABL facility and foreign currency exchange rate volatility, with no outstanding floating-rate borrowings and an accumulated other comprehensive loss of $77.3 million from international operations - The primary market risks are exposure to changes in **interest rates** and **foreign currency exchange rates**[175](index=175&type=chunk) - Interest rate risk is tied to the ABL Facility, which had **no floating-rate obligations outstanding** as of September 30, 2023[176](index=176&type=chunk) - Foreign currency exchange rate risk from international operations resulted in an accumulated other comprehensive loss of **$77.3 million** as of September 30, 2023[178](index=178&type=chunk) [Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Based on management's evaluation, the company's disclosure controls and procedures were deemed effective as of September 30, 2023, despite internal control modifications due to an ERP system migration in the Downhole Technologies segment - The CEO and CFO concluded that the company's **disclosure controls and procedures were effective** as of September 30, 2023[179](index=179&type=chunk) - Internal controls were modified for an **ERP system migration** in the Downhole Technologies segment, which was not considered a material change[180](index=180&type=chunk) Part II [Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) The company updated its risk factors to include a new material risk related to adverse developments in the financial services industry, highlighting potential impacts from events like bank failures or market liquidity problems on its access to funds, financing, and customer/supplier stability - A new risk factor was added concerning **adverse developments in the financial services industry**, such as liquidity issues or bank failures[185](index=185&type=chunk) - Potential impacts include **delayed access to deposits**, **inability to secure credit**, and **breach of contractual obligations**[188](index=188&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the third quarter of 2023, the company did not repurchase any equity securities, with approximately $22.0 million remaining available under the $25.0 million share repurchase program authorized in February 2023 - **No shares were repurchased** during the three-month period ended September 30, 2023[189](index=189&type=chunk) - As of September 30, 2023, **$22.0 million remained available** for share repurchases under the current authorization which extends through February 2025[190](index=190&type=chunk)[189](index=189&type=chunk)

Financial Data and Key Metrics Changes - Reported revenues for Q2 2023 were $184 million, adjusted consolidated EBITDA was $19 million, and net income was $1 million or $0.01 per share, marking the fourth consecutive quarter of positive net income [5][3] - Revenues and adjusted EBITDA increased year-over-year but declined sequentially by 6% and 11% respectively due to timing of activities in U.S. shale basins and delays in project conversions [3][11] - Backlog totaled $338 million at June 30, an increase of 40% from June 30, 2022, representing the highest backlog level since Q4 2015 [6][8] Business Line Data and Key Metrics Changes - Offshore/Manufactured Products segment generated revenues of $94 million with an EBITDA margin of 17%, a slight increase from 16.2% in Q1 [14] - Well Site Services segment reported revenues of $65 million and an EBITDA margin of 18%, down from 20% in Q1, primarily due to project delays [15] - Downhole Technologies segment had revenues of $25 million, an operating loss of $3 million, and an EBITDA of $2 million, affected by reduced customer demand [16] Market Data and Key Metrics Changes - Activity in the Gulf of Mexico was impacted by third-party intervention vessels being temporarily out of service, but international operations showed improvement due to higher customer activity [7][11] - The U.S. land activities have softened, but there are indications of a potential bottoming out in the market [28][39] Company Strategy and Development Direction - The company remains focused on optimizing operations and pursuing profitable activities in both U.S. and international markets, with an emphasis on technology leadership and value-added services [29][33] - The investment cycle is expected to extend beyond the next couple of years, supported by backlog growth and new product introductions [12][35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing recovery in offshore and international drilling, despite challenges in U.S. shale basins [3][11] - The company anticipates continued growth in the Offshore/Manufactured Products segment in the second half of 2023, driven by strong order flow and backlog [40][41] Other Important Information - The company generated strong cash flow from operations of $45 million in Q2 and repaid all amounts outstanding under its revolving credit facility, maintaining a strong financial position with cash on hand of $42 million [12][8] - Capital expenditures for 2023 are expected to be approximately $28 million, depending on market conditions [8] Q&A Session All Questions and Answers Question: What is the outlook for margin progression in the Offshore/Manufactured Products business? - Management indicated that margins are expected to improve in the second half of the year, supported by backlog development and a favorable mix of projects [34] Question: Are there any signs of a bottoming out in the market? - Management noted that while there has been a softening in U.S. land activities, customer conversations suggest that there is not a further decline expected from current levels [37] Question: How will the company address the challenges faced in the second quarter? - Management acknowledged that the challenges were largely timing-related and expressed confidence in recovering margins as operations normalize and backlog is converted into revenue [38]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ FORM 10-Q ____________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number: 001-16337 OIL STATES INTERNATIONAL, INC. (Exact name of registrant as specified in its ch ...