Oil States International Q4 EPS Beats Estimates; Operating Cash Flow Jumps 63% to $50M
Earnings beat: Oil States International’s Q4 adjusted EPS of $0.13 topped estimates by $0.03, with revenue up 8% sequentially and 8.4% year-on-year as offshore and international markets rose to 77% of sales. Q4 operating cash flow jumped 63% to $50 million, boosting full-year free cash flow to $94.2 million.
1. Q4 2025 Financial Highlights
Oil States International delivered an adjusted EPS of $0.13 in Q4 2025, beating estimates by $0.03, while revenue rose 8% sequentially and 8.4% year-on-year, driven by a shift to offshore and international markets accounting for 77% of sales versus 72% a year earlier.
2. Cash Flow and Balance Sheet Strength
Cash flow from operations reached a record $50 million in Q4, up 63% quarter-on-quarter, contributing to operating cash flows of $105.1 million and free cash flow of $94.2 million for the full year, leaving net cash exceeding debt by $15 million.
3. Bookings and Backlog Growth
The company booked $160 million in orders during Q4 and ended 2025 with a backlog of $435 million, the highest backlog level since March 2015, reflecting strong demand for capital equipment in offshore production and subsea infrastructure.
4. Full-Year 2026 Guidance
For 2026, management forecasts revenue between $680 million and $700 million and EBITDA of $90 million to $95 million, positioning the company for continued growth after a stock rally of over 77% since the start of the year.