Q3 2025 Oil States International Inc Earnings Call Transcript
Key Points
- Oil States International Inc (OIS) achieved backlog growth, reaching $399 million, the highest level since June 2015.
- The company generated $31 million in cash flow from operations, a 105% increase sequentially, and $23 million in free cash flow.
- Offshore manufactured products segment showed strong performance with a 2% revenue increase and a 6% rise in adjusted segment EBITDA.
- 75% of consolidated revenues were generated from offshore and international projects, reflecting a strategic shift towards higher-margin, longer-cycle work.
- The company received two safety awards, including the President's Gold Award for Health Safety and Environment incident rate improvement.
- US land-based activity declined significantly, with an 11% sequential drop in the average US frac spread count.
- Completion and production services and downhole technology segments experienced revenue declines of 6% and 1% respectively.
- The downhole technology segment reported a $1 million loss due to higher costs from tariffs and lower international activity levels.
- The company incurred $4 million in facility exit, severance, and other charges related to US land restructuring efforts.
- Tariffs significantly impacted the downhole technology segment, with a 98% tariff rate on imported goods, affecting profitability.
Thank you for standing by. My name is Jordan, and I'll be a conference operator today. At this time, I'd like to welcome everyone to the Oil State's 3rd quarter 2025 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you'd like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, press one again.
Thank you. I'd now like to turn the call over to Ellen Pennington, Vice President of Human Resources and senior counsel. Please go ahead.
Thank you, Jordan. Good morning and welcome to Oilate's 3rd quarter 2025 earnings conference call. Our call today will be led by our President and CEO, Cindy Taylor, and Lloyd Hajek, Oil State's executive Vice President and Chief Financial Officer. Before we begin, we would like to to caution listeners regarding forward-looking
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