Oil States (OIS) Reports In-Line Q2 EPS, Revenues Miss

Oil States (NYSE: OIS) reported Q2 EPS of $0.05, in-line with the analyst estimate of $0.05. Revenue for the quarter came in at $285.85 million versus the consensus estimate of $289.7 million.

Oil States’ President and Chief Executive Officer Cindy B. Taylor commented, "We delivered second quarter revenues of $286 million, up 67% year-over-year, and quarterly EBITDA of $40 million, up 288% year-over-year. This vast improvement in our results was due to strong contributions from our two strategic acquisitions completed in the first quarter of this year, coupled with improved land completions activity in our key shale play regions. Our Offshore/Manufactured Products segment received a major project award for floating production facility content for a project in South America, resulting in a 1.2x book-to-bill ratio and a 6% sequential increase in total backlog."

For earnings history and earnings-related data on Oil States (OIS) click here.

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