Oil States reports Q1 adjusted EPS 6c, consensus 4c

Reports Q1 revenue $159.94M, consensus $164.08M. Oil States (OIS)’ President and Chief Executive Officer, Cindy B. Taylor, stated: “Our first quarter consolidated results were supported by ongoing international and offshore activity through the addition of backlog along with benefits of our 2024 U.S. land-based optimization efforts and a strong recovery in our Gulf of America operations. We have historically reported negative cash flows from operations during the first quarter of the year due to seasonal working capital trends. However, we reversed that trend this quarter by generating $9 million of cash flow from operations.”