Welcome to our dedicated page for Oil States Intl news (Ticker: OIS), a resource for investors and traders seeking the latest updates and insights on Oil States Intl stock.
Oil States International, Inc. (NYSE: OIS) generates a steady flow of news and disclosures tied to its role as a global provider of manufactured products and services for the energy, industrial and military sectors. As a company in the Oil and Gas Field Machinery and Equipment Manufacturing industry, its updates often reflect trends in offshore and international project activity, U.S. land markets, and capital allocation decisions.
News coverage for Oil States commonly includes quarterly earnings releases, where the company reports revenues, net income, Adjusted EBITDA, segment performance, and backlog for its Offshore Manufactured Products, Completion and Production Services, and Downhole Technologies segments. These releases also discuss the mix between offshore and international revenues and U.S. land activity, along with the impact of restructuring actions in its U.S. land-based businesses.
Investors following OIS news will see announcements about backlog and bookings in Offshore Manufactured Products, contract awards for deepwater production facility projects, and updates on technology-focused offerings and industry awards. The company has highlighted recognition from industry organizations for technologies such as workover packages and connector systems, as well as developments in managed pressure drilling equipment and international manufacturing capacity.
Oil States’ news flow also covers capital structure and strategic actions, including share repurchase activity, the purchase of convertible senior notes, facility sales, and amendments to its asset-based revolving credit facility. Corporate announcements have addressed the company’s dual listing on NYSE Texas while maintaining its primary listing on the New York Stock Exchange under the OIS ticker symbol.
For readers and investors, the OIS news page provides a centralized view of these earnings updates, strategic announcements, technology recognitions and market-related developments. Regularly reviewing this information can help track how Oil States manages its offshore, international and U.S. land businesses and how its segment performance evolves over time.
Oil States International (NYSE: OIS) has scheduled its Q1 2021 earnings conference call for April 29, 2021, at 9:00 a.m. CT. This call will discuss financial results for the quarter ending March 31, 2021, which will be released on April 28, 2021, after market close.
The conference will be accessible via webcast on Oil States' website. Interested participants may also join by phone using the provided contact information. A replay will be available 90 minutes following the call. Oil States is a global provider in the oil and natural gas sector, headquartered in Houston, Texas.
Oil States International has announced a private offering of $135 million in 4.75% convertible senior notes due 2026. The transaction includes an option for initial purchasers to buy an additional $15 million in notes. The notes will have a conversion price of approximately $10.49 per share, representing a 25% premium to the recent stock price. The company plans to use about $120 million of the proceeds to repurchase existing convertible notes due 2023. The offering is expected to close on March 19, 2021, subject to customary conditions.
Oil States International (NYSE:OIS) has announced plans to offer $135 million in convertible senior notes due 2026, with an additional option for $15 million. These senior, unsecured notes will be convertible into cash or shares, with interest payable semi-annually. Proceeds will be used for repurchasing existing convertible notes due 2023 and general corporate purposes. The offering is subject to market conditions and will not be registered under the Securities Act. The company also cautions about risks impacting the offering and future performance.
Oil States International (NYSE: OIS) announced the departure of Executive Vice President Chris Cragg, effective March 1, 2021, as he pursues other opportunities. The Company will not replace him, with President and CEO Cindy Taylor assuming his responsibilities. Taylor expressed gratitude for Cragg's two decades of service, highlighting his role in the Company's growth since its IPO in 2001. Oil States is a global provider of products and services in the oil and natural gas sectors, headquartered in Houston, Texas.
Oil States International (OIS) reported a fourth-quarter 2020 net loss of $18.7 million, or $0.31 per share, due to $4.3 million in asset impairment and $2.7 million in severance charges. Revenue stood at $137.4 million, with Adjusted EBITDA of $2.2 million, reflecting improvements in the Downhole Technologies and Well Site Services segments. The company secured a new $125 million credit facility and reduced net debt by $128 million in 2020. For the full year, OIS had a net loss of $468.4 million and revenues of $638.1 million, including substantial non-cash impairment charges.
Oil States International (NYSE: OIS) has secured a $125 million asset-based revolving credit agreement, replacing its previous $200 million facility. The agreement, managed by Wells Fargo and other lenders, allows borrowing against eligible U.S. receivables and inventory with a maturity date of February 10, 2025. Interest rates will be LIBOR plus 2.75% to 3.25%. The credit facility includes standard covenants limiting cash accumulation over $30 million, new debt, and other financial activities.
Oil States International, Inc. (NYSE: OIS) will hold its fourth quarter 2020 earnings conference call on February 18, 2021, at 9:00 a.m. CT. The earnings report for the quarter ending December 31, 2020, will be released on February 17, 2021, after market close. Investors can join the call via Oil States’ website or by calling 1 (888) 771-4371 in the U.S. A replay will be available shortly after at the same link.
Oil States specializes in products and services for the oil and gas industry.
Oil States International reported a Q3 2020 net loss of $20.0 million ($0.33 per share) on revenues of $134.8 million. Key highlights include $87.0 million in cash flow from operations and a reduction of net debt by $91.9 million. The company faced challenges in its Offshore/Manufactured Products segment, with revenues down 17% sequentially. Despite a 3% increase in revenues from Well Site Services and a 25% rise in Downhole Technologies, overall performance remained affected by customer activity delays. The company's backlog stood at $227 million, a 3% sequential decline.
Oil States International, Inc. (NYSE: OIS) has scheduled its third quarter 2020 earnings conference call for October 30, 2020, at 10:00 a.m. Central Time. The earnings results for the quarter ended September 30, 2020, will be released on October 29, 2020, after market close. Investors can participate in the call via webcast on Oil States’ website or by dialing in with a provided passcode. The company specializes in providing products and services for the oil and gas industry and is headquartered in Houston, Texas.
Oil States International (OIS) reported a net loss of $24.6 million, or $0.41 per share, for Q2 2020 on revenues of $146.2 million, reflecting the severe impacts of the COVID-19 pandemic. Consolidated EBITDA was a loss of $4.5 million, but excluding severance and downsizing charges, it totaled $0.9 million. The company generated $38.7 million in cash flow from operations and reduced net debt by $39.3 million. The Offshore/Manufactured Products segment showed resilience, with a 4% revenue increase. However, revenues fell sharply in Completion Services and Downhole Technologies, declining 56% and 64%, respectively.