Oil States International Reports Q4 Revenue Decline, Profit Increases

Oil States International (OIS) reported a net income of $15.2 million for Q4 2024, translating to $0.24 per share, which included a significant gain from the sale of a previously idled facility. Adjusted net income, excluding one-time gains and restructuring charges, was $5.5 million or $0.09 per share. The company faced challenges with a 21% decrease in revenues to $164.6 million compared to the previous year, attributed to lower activity in U.S. land-based operations and exits from underperforming service lines. However, international and offshore operations showed resilience, accounting for 72% of total revenues, supported by strategic growth initiatives and increased capital investments. The company’s outlook remains cautiously optimistic, with expectations of strong free cash flow in 2025 and ongoing shareholder returns. OIS's strategic focus includes optimizing business segments and enhancing operational margins, aiming to strengthen its market position moving forward.