Overview
Oil States Q3 revenue of $165 mln missed analyst expectations
Adjusted EPS of $0.08 missed analyst estimates
Company generated $31 mln in cash flows from operations
Outlook
Company did not provide specific guidance for future quarters or full year
Result Drivers
OFFSHORE FOCUS - Co emphasized offshore and international operations amid U.S. headwinds from lower commodity prices and tariffs
BACKLOG INCREASE - Offshore Manufactured Products segment backlog grew 10% with strong bookings
RESTRUCTURING IMPACT - Completion and Production Services faced restructuring costs affecting revenues
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$165 mln
$167.68 mln (4 Analysts)
Q3 Adjusted EPS
Miss
$0.08
$0.09 (4 Analysts)
Q3 EPS
$0.03
Q3 Net Income
$2 mln
Q3 Adjusted EBITDA
$21 mln
Q3 Adjusted Free Cash Flow
$31 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy"
Wall Street's median 12-month price target for Oil States International Inc is $7.75, about 12.5% above its October 30 closing price of $6.78
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nBw8WBRM9a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)