Oil States Q3 net income rises 64% year-over-year to $3.12 million
OIS•Oil States International reported third-quarter net income of $3.12 million, up 64% year-over-year but down 47% from the previous quarter. Revenue rose 8% sequentially to $169.76 million, and the board authorized a $50 million stock repurchase plan.
1. Quarterly results and plans
Oil States International reported third-quarter 2026 revenue of $169.76 million, up 8% from the previous quarter, driven by demand in Offshore Manufactured Products and Downhole Technologies. Offshore Manufactured Products backlog rose 7% sequentially to $482 million, its highest level since December 2014, and the board authorized a $50 million common stock repurchase plan on October 29, extending through October 2028.
