Oil States International, Inc. Q4 2025 Earnings Call Summary

Moby Intelligence

Fri, February 20, 2026 astatine 11:32 AM CST 3 min read

• Management successfully shifted the concern premix toward offshore and planetary markets, which present relationship for 77% of full gross compared to 72% successful the anterior year.

• Performance was driven by disciplined backlog conversion and improved margins successful the Completion and Production Services and Downhole Technologies segments pursuing strategical restructuring.

• The institution intentionally exited underperforming U.S. land-based operations to high-grade the portfolio and absorption connected much differentiated, higher-margin merchandise lines.

• The Offshore Manufactured Products conception achieved its highest backlog since March 2015, totaling $435 million, supported by a 1.3 times book-to-bill ratio.

• Operational improvements for customers were realized done the deployment of precocious technologies, including managed unit drilling systems and low-impact workover packages.

• Management attributed the $117 cardinal nett nonaccomplishment to $112 cardinal successful non-cash long-lived plus and inventory impairments successful the Downhole Technologies segment, arsenic good arsenic restructuring charges and valuation allowances.

• Full-year 2026 gross is projected betwixt $680 cardinal and $700 million, with EBITDA expected to scope from $90 cardinal to $95 million, representing meaningful year-over-year growth.

• Management anticipates a book-to-bill ratio exceeding 1.0 times successful 2026, supported by a important information of the existent backlog converting to gross wrong the year.

• Cash flows from operations for 2026 are estimated astatine $60 cardinal to $65 million, reflecting a alteration from 2025 owed to an expected physique successful moving capital.

• The institution plans to discontinue its remaining $53 cardinal successful convertible elder notes by April 2026 utilizing currency connected manus and a caller $125 cardinal recognition facility.

• Strategic absorption remains connected planetary enlargement of the afloat merchandise suite, peculiarly successful the Middle East, Brazil, and Southeast Asia, portion U.S. onshore enactment is expected to stay subdued.

• Recorded $112 cardinal successful non-cash long-lived plus and inventory impairment charges successful the Downhole Technologies conception to bespeak existent just marketplace values of 2018 acquisitions.

• Identified $17 cardinal successful assets held for merchantability arsenic the institution continues to monetize facilities and instrumentality from exited U.S. onshore operations.

• Management noted that 2025 show successful the perforating concern was hindered by a crisp summation successful tariffs connected Chinese weapon alloy from 25% to 98%.

• The institution repurchased $17 cardinal of communal banal successful 2025, representing astir 5% of shares outstanding, and intends to stay opportunistic with aboriginal buybacks.