Oil States International, Inc. reported a net loss of $109.4 million for the fiscal year ending December 31, 2025, translating to a loss of $1.86 per share. This marks a significant decline from the previous year's net loss of $11.3 million, or $0.18 per share. The 2025 results were heavily impacted by $132.6 million in charges related to non-cash asset impairments and restructuring efforts, primarily in the U.S. land-based operations. Total revenues decreased by 3% to $668.99 million, down from $692.59 million in 2024, driven by a decline in service revenues, particularly in the U.S. market.
The company's financial performance reflects a challenging environment, with a 15% drop in the average spot price of West Texas Intermediate (WTI) crude oil compared to 2024, largely due to increased production by OPEC+. This decline, coupled with broad-based trade tariffs imposed by the U.S., has created uncertainty in the market, negatively affecting demand for Oil States' products and services. The company has responded by implementing strategic initiatives to optimize operations, including exiting underperforming service lines and locations, which resulted in $121.1 million in non-cash asset impairment charges.
In terms of operational metrics, Oil States' Offshore Manufactured Products segment generated $431.1 million in revenue, an increase of 8% from the previous year, driven by higher demand for project-driven products. The segment's backlog rose to $435 million as of December 31, 2025, up from $311 million a year earlier, indicating a positive outlook for future revenue recognition. Conversely, the Completion and Production Services segment saw a 30% revenue decline to $114.5 million, primarily due to the exit from certain U.S. land-based service offerings. The Downhole Technologies segment also experienced a revenue decrease of 6%, reflecting lower customer activity levels.
As of the end of 2025, Oil States had a total of 2,172 full-time employees, with a significant portion in the Offshore Manufactured Products segment. The company generated $105.1 million in cash flow from operations during the year and repurchased $16.6 million worth of its common stock. Looking ahead, the company has entered into a new cash-flow based credit agreement, providing up to $125 million in financing, which it expects will support its liquidity needs and operational strategies in the coming year. The outlook remains cautious, with ongoing volatility in commodity prices and market conditions expected to influence future performance.
About OIL STATES INTERNATIONAL, INC
Oil States International, Inc. provides engineered products and services to the energy, industrial, and military sectors, focusing on offshore oil and gas infrastructure, well completion, and downhole technologies. Serving global customers, including major oil companies and defense clients, it offers capital equipment, consumables, and technical solutions. The company operates through three segments, emphasizing innovation, safety, and strategic growth in cyclical energy markets.
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