Oil States International, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 27, 2023 at 12:00 pm
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Oil States International, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 183.53 million compared to USD 181.83 million a year ago. Net income was USD 0.558 million compared to net loss of USD 5.14 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to basic loss per share from continuing operations of USD 0.08 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to diluted loss per share from continuing operations of USD 0.08 a year ago.
For the six months, revenue was USD 379.73 million compared to USD 345.88 million a year ago. Net income was USD 2.72 million compared to net loss of USD 14.57 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to basic loss per share from continuing operations of USD 0.24 a year ago. Diluted earnings per share from continuing operations was USD 0.04 compared to diluted loss per share from continuing operations of USD 0.24 a year ago.
Oil States International, Inc. is a global provider of manufactured products and services to customers in the energy, industrial and military sectors. The Company's manufactured products include highly engineered capital equipment, as well as products consumed in the drilling, well construction and production of oil and natural gas. It operates through three segments. The Offshore/Manufactured Products segment designs, manufactures and markets capital equipment utilized on floating production systems, subsea pipeline infrastructure, and offshore drilling rigs and vessels, along with short-cycle and other products. The Well Site Services segment includes a range of equipment and services that are used to drill for, establish and maintain the flow of oil and natural gas from a well throughout its life cycle. The Downhole Technologies segment provides oil and gas perforation systems and downhole tools in support of completion, intervention, wireline and well abandonment operations.