Oil States Announces Second Quarter 2020 Results of Operations

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Go back to Oil States Announces Second Quarter 2020 Results of Operations

Oil States (OIS) Tops Q2 EPS by 6c, Revenues Miss

July 29, 2020 5:19 PM EDT

Oil States (NYSE: OIS) reported Q2 EPS of ($0.41), $0.06 better than the analyst estimate of ($0.47). Revenue for the quarter came in at $146.25 million versus the consensus estimate of $154.33 million.

Severance and downsizing charges totaled $5.4 million ($4.3 million after-tax, or $0.07 per share)Bad debt provision on receivables from customers claiming bankruptcy protection totaled $2.2 million ($1.7 million after-tax, or $0.03 per share)Non-cash fixed asset impairment charges totaled $3.0 million ($2.4 million after-tax, or $0.04 per share)Non-cash gain on extinguishment of convertible senior notes of $4.8 million ($3.8 million after-tax, or $0.06 per share)

Second quarter 2020 highlights and corporate... More