Oil States International reported third‑quarter 2025 results, with consolidated revenue of $165.18 million, a 5% decline year‑over‑year. Operating income rose to $4.75 million, a turnaround from the $11.04 million loss reported in the same quarter a year earlier, and represents a 10% decline from the $5.277 million earned in the second quarter. Net income was $1.90 million, a swing to profitability from a $14.35 million loss in Q3 2024 and a 32% drop versus the $2.81 million earned in the second quarter.
The company’s offshore manufactured products segment generated $108.6 million in revenue, while completion and production services and downhole technologies contributed $27.5 million and $29 million respectively. Strong international demand in the offshore segment offset a decline in U.S. land‑based activity.
Oil States’ backlog reached $399 million as of September 30 2025, the highest level since June 2015, supporting continued revenue momentum.
The company remains on track to meet its 2025 guidance, with full‑year EBITDA expected to stay within the $88 million to $93 million range. Management highlighted the effectiveness of its strategic re‑engineering, emphasizing technology‑driven solutions such as Managed Pressure Drilling and the Low Impact Workover Package.
Oil States continues to generate strong cash flow from operations, reporting $31 million in Q3 2025, and maintains a disciplined capital strategy with ongoing note repurchases and share buybacks.
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