Oil States (OIS) Tops Q2 EPS by 12c

Oil States (NYSE: OIS) reported Q2 EPS of $0.15, $0.12 better than the analyst estimate of $0.03. Revenue for the quarter came in at $269.26 million versus the consensus estimate of $276.66 million.

During the second quarter of 2015, the Company generated revenues of $269.3 million and Adjusted EBITDA (A) of $43.2 million (excluding $1.7 million of severance and downsizing related charges). These results compare to revenues of $459.6 million and Adjusted EBITDA (A) of $109.1 million (excluding $9.6 million of transaction costs reported in the second quarter of 2014), representing year-over-year declines of 41% and 60%, respectively. Activity declines were broad based and included lower North American activity levels resulting from the significant decline in crude oil prices, the corresponding precipitous drop in the U.S. land drilling rig count which continued throughout the second quarter, further activity declines due to certain customers who have elected to drill wells but not complete them, reduced pricing for our completion service offerings, and a reduction in short-cycle revenues in the offshore products business.

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

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