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Oil States International(OIS) - 2020 Q4 - Annual Report
2021-02-22 22:24
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, 2020 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) D ...
Oil States International(OIS) - 2020 Q4 - Earnings Call Transcript
2021-02-18 20:03
Financial Data and Key Metrics Changes - For Q4 2020, the company generated revenues of $137 million, a 2% sequential increase, but reported a net loss of $19 million or $0.31 per share [15][10] - Adjusted consolidated EBITDA improved significantly due to better cost absorption in U.S. businesses [15] - The company generated $133 million of cash flow from operations in 2020, reducing total net debt by $128 million [13][17] Business Line Data and Key Metrics Changes - **Well Site Services**: Revenues increased 3% sequentially, with Adjusted Segment EBITDA margins improving [11] - **Completion Services**: Incremental adjusted EBITDA margins reached 89% [11] - **Downhole Technology**: Revenues increased 24% sequentially, with Adjusted Segment EBITDA margins also improving significantly [11][26] - **Offshore/Manufactured Products**: Revenues decreased 4% sequentially due to weaker connector product sales, with a segment backlog of $219 million [12][23] Market Data and Key Metrics Changes - The average U.S. rig count for Q4 2020 was 311 rigs, up 22% sequentially, while the average U.S. frac spread count increased by 67% sequentially [31] - As of early Q1 2021, the average frac spread count increased by about 20% since Q4 2020, indicating a favorable setup for U.S. shale-driven products and services [32] Company Strategy and Development Direction - The company is focused on enhancing operational efficiencies and developing new technologies in response to customer needs [41][42] - There is a strategic emphasis on maintaining liquidity and managing costs while exploring M&A opportunities that are highly strategic and capital-light [60][61] - The company aims to leverage its expertise in offshore fixed platform installations to bid on emerging opportunities in offshore wind and subsea mining [63][64] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in 2020 due to COVID-19 and the subsequent recovery in the oil and gas market [7][8] - The outlook for 2021 suggests flat or modestly declining consolidated revenue, with expectations of EBITDA growth driven by cost mitigation efforts [34][35] - Management expressed optimism about the first quarter of 2021, despite recent severe weather impacting operations [78] Other Important Information - The company entered into a new $125 million asset-based revolving credit agreement, enhancing liquidity [18][21] - The company expects to invest approximately $15 million in total CapEx during 2021, flat compared to 2020 spending levels [21] Q&A Session Summary Question: Focus on new completion technology - Management detailed their focus on Downhole Technology and operational efficiencies in Well Site Services, highlighting investments in integrated gun systems and valve technology [40][41][42] Question: Order book for subsea mining and wind opportunities - Management indicated that these are early-stage developments with limited bookings in 2020, but they are optimistic about future contributions [45][46] Question: Strategies to boost EBITDA and cash flow - Management emphasized a focus on return on net capital employed and cautious capital allocation, with potential M&A opportunities being highly strategic [58][60] Question: Competitive landscape for emerging opportunities - Management highlighted their expertise in fixed platform installations as a competitive advantage in bidding for offshore wind and subsea mining projects [63][64] Question: Year-over-year revenue growth expectations - Management expects Well Site Services to grow year-over-year by 5% to 10%, while Downhole Technologies could see growth of 20% to 30% [83][84] Question: Pricing improvement and margin normalization - Management stated that higher top-line revenue is needed for margin improvement, with some expectations for pricing increases in the U.S. land market [88][90]
Oil States International(OIS) - 2020 Q3 - Earnings Call Transcript
2020-10-31 02:49
Oil States International, Inc. (NYSE:OIS) Q3 2020 Earnings Conference Call October 30, 2020 11:00 AM ET Company Participants Ellen Pennington - Counsel and Assistant Corporate Secretary Cindy Taylor - President and Chief Executive Officer Lloyd Hajdik - EVP and Chief Financial Officer Conference Call Participants Sean Meakim - JPMorgan Stephen Gengaro - Stifel Kurt Hallead - RBC Ian Macpherson - Simmons Connor Lynagh - Morgan Stanley Stephen Gengaro - Stifel Operator Welcome to the Oil States International ...
Oil States International(OIS) - 2020 Q3 - Quarterly Report
2020-10-30 18:38
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 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 ...
Oil States International(OIS) - 2020 Q2 - Earnings Call Transcript
2020-08-01 23:23
Oil States International, Inc. (NYSE:OIS) Q2 2020 Results Conference Call July 30, 2020 11:00 AM ET Company Participants Ellen Pennington - Counsel and Assistant Corporate Secretary Cindy Taylor - President and Chief Executive Officer Lloyd Hajdik - EVP and Chief Financial Officer Conference Call Participants Sean Meakim - JP Morgan Stephen Gengaro - Stifel George O'Leary - Tudor, Pickering, Holt & Company Kurt Hallead - RBC Capital Markets Connor Lynagh - Morgan Stanley John Daniel - Daniel Energy Operator ...
Oil States International(OIS) - 2020 Q2 - Quarterly Report
2020-07-30 22:43
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 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 r ...
Oil States International(OIS) - 2020 Q1 - Earnings Call Transcript
2020-05-02 01:26
Oil States International, Inc. (NYSE:OIS) Q1 2020 Earnings Conference Call April 30, 2020 11:00 AM ET Company Participants Ellen Pennington – Counsel and Assistant Corporate Secretary Cindy Taylor – President and Chief Executive Officer Lloyd Hajdik – EVP and Chief Financial Officer Conference Call Participants George O'Leary – Tudor, Pickering, Holt & Co. Stephen Gengaro – Stifel Sean Meakim – J.P. Morgan Kurt Hallead – RBC Capital Markets Operator Welcome to the Oil States International 1Q 2020 Earnings C ...
Oil States International(OIS) - 2020 Q1 - Quarterly Report
2020-04-30 23:01
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q | (Mark One) | | --- | | ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | For the quarterly period ended March 31, 2020 | | 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. | | ______________ | | ...
Oil States International(OIS) - 2019 Q4 - Annual Report
2020-02-21 17:00
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, 2019 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) ( ...
Oil States International(OIS) - 2019 Q4 - Earnings Call Transcript
2020-02-20 21:23
Oil States International, Inc. (NYSE:OIS) Q4 2019 Earnings Conference Call February 20, 2020 10:00 AM ET Company Participants Patricia Gil – Investor Relations Cindy Taylor – President and Chief Executive Officer Lloyd Hajdik – Executive Vice President and Chief Financial Officer Conference Call Participants George O’Leary – Tudor, Pickering, Holt Stephen Gengaro – Stifel Kurt Hallead – RBC Praveen Narra – Raymond James Marc Bianchi – Cowen Ian MacPherson – Simmons Sean Meakim – JPMorgan Cole Sullivan – Wel ...