Corrects Q4 Adjusted Free Cash Flow in Key Details table to $53.6 mln, from $50 mln
Overview
Energy sector provider's Q4 revenue missed analyst expectations
Adjusted EPS for Q4 beat analyst expectations
Company purchased $50 mln principal amount of convertible senior notes
Outlook
Oil States entered new credit agreement for borrowings up to $125 mln
Backlog in Offshore Manufactured Products segment reached highest level since 2015
Result Drivers
OFFSHORE MANUFACTURED PRODUCTS - Revenue increased 13% sequentially due to strong bookings and backlog growth
COMPLETION AND PRODUCTION SERVICES - Revenue declined 16% due to restructuring efforts, but Adjusted EBITDA margins improved
DOWNHOLE TECHNOLOGIES - Significant asset impairments impacted operating results
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Miss | $178 mln | $180.16 mln (3 Analysts) |
Q4 Adjusted EPS | Beat | $0.13 | $0.10 (3 Analysts) |
Q4 EPS | -$2.04 | ||
Q4 Net Income | -$117.2 mln | ||
Q4 Adjusted EBITDA | $23 mln | ||
Q4 Adjusted Free Cash Flow | $53.6 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy"
Wall Street's median 12-month price target for Oil States International Inc is $8.50, about 15% below its February 19 closing price of $10.00
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 12 three months ago
Press Release: ID:nBw8hTngNa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)