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Oil States International (OIS) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Oil States International (OIS) Q3 2026 earnings results →
Q3 2026 Revenue up 3% year over year to $170M · 2¢ of every $1 of revenue kept as net profit · operating margin 3.7%
Oil States International made $170M in Q3 2026 (+3% Y/Y): Offshore Manufactured Products $104M, Downhole Technologies $42.2M, Completion and Production Services $23.2M. Operating margin 3.7%, net earnings $3.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $169.8M in Q3 2026, up 3% year over year and up 8% from the previous quarter. Offshore Manufactured Products was the largest line at 61% of revenue. Downhole Technologies added $13.2M year over year (up 45%), 288% of the total change. Completion and Production Services declined 16%.
Operating profit was $6.3M, a 3.7% margin (up 0.9 points year over year). Of the extra revenue versus Q3 2025, 35% reached operating profit, above the 3% margin then. Total costs grew 2% against revenue growth of 3%. The fastest-growing cost line was SG&A (+16%). Net earnings were $3.1M, up 64% year over year. The effective tax rate was 40.7%.
Operating cash flow was $5.3M (down 83% year over year), 170% of net earnings. Non-cash charges added back $8.0M of depreciation and amortization and $3.7M of share-based compensation. Working capital and other items used $9.6M. Capital expenditures of $3.2M left free cash flow of $2.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 30, 2026 | $170M | +3% | 3.7% | $3.1M | $5.3M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $157M | -5% | 7.5% | $5.9M | −$6.3M |
| Q1 2026 | 10-Q | May 5, 2026 | $145M | -9% | 2.9% | $1.1M | −$1.9M |
| Q4 2025 | 10-K | Mar 4, 2026 | $178M | +8% | -63.7% | −$117M | $50.1M |
| Q3 2025 | 10-Q | Oct 31, 2025 | $165M | -5% | 2.9% | $1.9M | $30.7M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $165M | -11% | 3.2% | $2.8M | $15.0M |
| Q1 2025 | 10-Q | May 1, 2025 | $160M | -4% | 3.5% | $3.2M | $9.3M |
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About Oil States International
Oil States International, Inc., through its subsidiaries, is a global provider of manufactured products and services to customers in the energy, military and industrial sectors. The Company’s manufactured products include highly engineered capital equipment and consumable products. Oil States is headquartered in Houston, Texas with manufacturing and service facilities strategically located across the globe. Our customers include many national oil and natural gas companies, major and independent oil and natural gas companies, offshore drilling companies and other oilfield service, defense and industrial companies. We operate through three business segments – Offshore Manufactured Products, Completion and Production Services and Downhole Technologies – and maintain a leadership position with certain of our product and service offerings in each segment.
In its own words, from its 10-K, filed Mar 4, 2026.
Oil States International against its Oil & Gas Field Machinery & Equipment peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +10%. Operating margin: 3.7% against the peers' median 12.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| OIS Oil States International | Q3 2026 | $170M | +3% | 3.7% |
| BKR Baker Hughes | Q3 2026 | $8.0B | +14% | 6.5% |
| FTI TechnipFMC | Q3 2026 | $2.9B | +9% | 19.5% |
| NOV NOV | Q3 2026 | $2.2B | +2% | 6.4% |
| DNOW Dnow | Q3 2026 | $1.3B | +111% | 2.5% |
| WFRD Weatherford International | Q3 2026 | $1.1B | -7% | 13.4% |
| WHD Cactus | Q3 2026 | $431M | +63% | 21.8% |
| SEI Solaris Energy Infrastructure | Q3 2026 | $341M | +104% | 19.6% |
| INVX Innovex International | Q3 2026 | $265M | +10% | 12.2% |
Source: Oil States International 10-Q on SEC EDGAR · CIK 1121484 · Oil & Gas Field Machinery & Equipment
Guidance and outlook
13F: who owns OIS and who is buying
More on OIS
- How Oil States International makes money: revenue by segment
- Oil States International next earnings date and what analysts expect
- Oil States International stock forecast, price target and fair value
- Who owns Oil States International stock: holders, funds and Congress trades
- Oil States International guidance and outlook
- Oil States International recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Oil States International operating margin by quarter
- Oil States International net income by quarter
- Oil States International free cash flow by quarter
- Oil States International capital expenditures by quarter
- Oil States International Offshore Manufactured Products revenue by quarter
- Oil States International Downhole Technologies revenue by quarter
- Oil States International Completion and Production Services revenue by quarter
Compare OIS with
- Oil States International vs HMH Holding (OIS vs HMH)
- Oil States International vs Forum Energy Technologies (OIS vs FET)
- Oil States International vs Flowco Holdings (OIS vs FLOC)
- Oil States International vs Drilling Tools International (OIS vs DTI)
- Oil States International vs Hyperscale Data (OIS vs GPUS)
- Oil States International vs Koil Energy Solutions (OIS vs KLNG)