Corrects Q4 Adjusted Free Cash Flow in Key Details table to $53.6 mln, from $50 mln

Overview

• Energy sector provider's Q4 revenue missed analyst expectations

• Adjusted EPS for Q4 beat analyst expectations

• Company purchased $50 mln principal amount of convertible senior notes

Outlook

• Oil States entered new credit agreement for borrowings up to $125 mln

• Backlog in Offshore Manufactured Products segment reached highest level since 2015

Result Drivers

• OFFSHORE MANUFACTURED PRODUCTS - Revenue increased 13% sequentially due to strong bookings and backlog growth

• COMPLETION AND PRODUCTION SERVICES - Revenue declined 16% due to restructuring efforts, but Adjusted EBITDA margins improved

• DOWNHOLE TECHNOLOGIES - Significant asset impairments impacted operating results

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the oil related services and equipment peer group is "buy"

• Wall Street's median 12-month price target for Oil States International Inc is $8.50, about 15% below its February 19 closing price of $10.00

• The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nBw8hTngNa

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