Oil States International beat earnings expectations in Q4 2025, boosted by offshore growth and strong cash flow, and raised 2026 revenue and EBITDA guidance.

Oil States International reported Q4 2025 adjusted earnings of $0.13 per share, exceeding expectations, on revenue of $178 million, up 8% year-over-year. The company achieved $50 million in cash flow from operations, used to retire $50 million in debt, ending the year with cash exceeding total debt by $15 million. Strong performance in offshore and international operations, along with a record $435 million backlog in offshore products, supported results. Despite a $112 million noncash impairment charge, the company guided 2026 revenue of $680–700 million and EBITDA of $90–95 million, citing growth from offshore tech, defense sales, and expansion in Brazil, Guyana, and Southeast Asia.