Oil States International Q3 2024 10-Q Filing

TL;DR

**OIS Q3 2024 10-Q FILED: Financials for the period ending 9/30/24 are now public.**

AI Summary

Oil States International, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance for the third quarter and the first nine months of 2024, including revenues and expenses related to its product and service segments. The company's fiscal year ends on December 31st.

Why It Matters

This filing provides investors with a detailed look at Oil States International's financial health and operational performance during the third quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information which can reveal significant operational or financial risks for the company.

Key Players & Entities

• OIL STATES INTERNATIONAL, INC (company) — Filer
• 20240930 (date) — Period of Report
• 20241030 (date) — Filing Date
• 713-652-0582 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share OIS New York Stock Exchange

Filing Documents

• ois-20240930.htm (10-Q) — 1501KB
• ois_20240930xex311.htm (EX-31.1) — 12KB
• ois_20240930xex312.htm (EX-31.2) — 12KB
• ois_20240930xex321.htm (EX-32.1) — 6KB
• ois_20240930xex322.htm (EX-32.2) — 6KB
• 0001121484-24-000072.txt ( ) — 7439KB
• ois-20240930.xsd (EX-101.SCH) — 41KB
• ois-20240930_cal.xml (EX-101.CAL) — 73KB
• ois-20240930_def.xml (EX-101.DEF) — 217KB
• ois-20240930_lab.xml (EX-101.LAB) — 564KB
• ois-20240930_pre.xml (EX-101.PRE) — 412KB
• ois-20240930_htm.xml (XML) — 1215KB

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements: Condensed Consolidated Financial Statements Unaudited Consolidated Statements of Operations 3 Unaudited Consolidated Statements of Comprehensive Income (Loss) 4 Consolidated Balance Sheets 5 Unaudited Consolidated Statements of Stockholders' Equity 6 Unaudited Consolidated Statements of Cash Flows 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 – 20 Cautionary Statement Regarding Forward-Looking Statements 21 – 22

Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22 – 36

Quantitative and Qualitative Disclosures About Market Risk 36

Item 3. Quantitative and Qualitative Disclosures About Market Risk 36

Controls and Procedures 37

Item 4. Controls and Procedures 37

– OTHER INFORMATION

Part II – OTHER INFORMATION

Legal Proceedings 38

Item 1. Legal Proceedings 38

Risk Factors 38

Item 1A. Risk Factors 38

Unregistered Sales of Equity Securities and Use of Proceeds 38

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38

Defaults Upon Senior Securities 38

Item 3. Defaults Upon Senior Securities 38

Mine Safety Disclosures 38

Item 4. Mine Safety Disclosures 38

Other Information 38

Item 5. Other Information 38

Exhibits 39

Item 6. Exhibits 39 Signature Page 40 2 Table of Contents OIL STATES INTERNATIONAL, INC. AND SUBSIDIARIES

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (In Thousands, Except Per Share Amounts) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues: Products $ 100,798 $ 102,636 $ 303,706 $ 295,106 Services 73,550 91,653 224,287 278,911 174,348 194,289 527,993 574,017 Costs and expenses: Product costs 79,167 80,188 236,807 231,524 Service costs 57,422 70,239 173,766 211,668 Cost of revenues (exclusive of depreciation and amortization expense presented below) 136,589 150,427 410,573 443,192 Selling, general and administrative expense 22,754 24,241 71,623 71,785 Depreciation and amortization expense 13,635 15,416 42,528 46,209 Impairment of goodwill — — 10,000 — Impairments of intangible assets 10,787 — 10,787 — Impairments of operating lease assets 2,579 — 2,579 — Other operating (income) expense, net ( 955 ) ( 1,985 ) 76 ( 2,503 ) 185,389 188,099 548,166 558,683 Operating income (loss) ( 11,041 ) 6,190 ( 20,173 ) 15,334 Interest expense, net ( 1,824 ) ( 1,928 ) ( 5,986 ) ( 6,378 ) Other income, net 731 186 1,311 672 Income (loss) before income taxes ( 12,134 ) 4,448 ( 24,848 ) 9,628 Income tax provision ( 2,215 ) ( 236 ) ( 1,574 ) ( 2,700 ) Net income (loss) $ ( 14,349 ) $ 4,212 $ ( 26,422 ) $ 6,928 Net income (loss) per share: Basic $ ( 0.23 ) $ 0.07 $ ( 0.42 ) $ 0.11 Diluted ( 0.23 ) 0.07 ( 0.42 ) 0.11 Weighted average number of common shares outstanding: Basic 62,084 62,651 62,357 62,760 Diluted 62,084 63,060 62,357 63,135 The accompanying notes are an integral part of these financial statements. 3 Table of Contents OIL STATES INTERNATIONAL, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (In Thousands) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income (loss) $ ( 14,349 ) $ 4,212 $ ( 26,422 ) $ 6,928 Other comprehensive income (loss): Currency translation adjustmen

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View this 10-Q filing on SEC EDGAR