Stock Monitor: CSI Compressco Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 17, 2018 / If you want access to our free earnings report on Oil States International, Inc. (NYSE: OIS) (''Oil States''), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=OIS. The Company released its financial results on April 25, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The Houston, Texas-based Company's total revenues grew on a y-o-y basis, outperforming market consensus estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for CSI Compressco LP (NASDAQ: CCLP), which also belongs to the Basic Materials sector as the Company Oil States Intl. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Oil States International most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=OIS
Earnings Highlights and Summary
For Q1 FY18, Oil States' total revenues rose to $253.58 million from the $151.47 million recorded at the end of Q1 FY17. The Company's total revenue numbers for Q1 FY18 topped market consensus estimates of $227 million. The Company reported product revenues of $128.83 million, up from $73.18 million in the last year's same quarter. The Company's service revenues also increased to $124.75 million in the reported quarter from $78.29 million in Q1 FY17.
The energy services Company reported a net loss of $3.49 million, or $0.06 loss per diluted share, in Q1 FY18 compared to a net loss of $17.68 million, or $0.35 loss per diluted share, in Q1 FY17. The Company's net loss, excluding non-recurring items, stood at $0.8 million, or $0.01 loss per diluted share, in Q1 FY18 compared to Wall Street's net loss expectations of $0.14 loss per diluted share.
Operating Metrics
During the reported quarter, Oil States' product costs were $92.98 million versus $50.35 million in the prior year's comparable period. The Company's service costs increased to $96.91 million at the end Q1 FY18 from $68.56 million at the end of Q1 FY17. The Company's selling, general, and administrative expenses (SG&A) also grew to $34.20 million in Q1 FY18 from $27.73 million in Q1 FY17. The Company's total costs and expenses rose to $254.49 million in Q1 FY18 compared to $174.79 million in Q1 FY17. The Company's operating loss also narrowed to $0.91 million during the reported quarter from $23.32 million in Q1 FY17. Furthermore, the Company reported an adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of $32.29 million in Q1 FY18 versus $5.43 million in Q1 FY17.
Segment Results
Oil States' Well Site Services segment's revenues came in at $100.40 million in Q1 FY18 compared to $60.15 million in the year ago corresponding quarter. The segment's Floater's operating loss amounted to $6.78 million in Q1 FY18, lower than $20.70 million in Q1 FY17. Additionally, the segment's adjusted EBITDA increased to $13.11 million during Q1 FY18 from $1.12 million in Q1 FY17.
For Q1 FY18, the Company's Downhole Technologies segment's revenues were $45.78 million, with a net income of $8.05 million. Furthermore, the segment reported an adjusted EBITDA of $12.14 million in Q1 FY18.
The Company's Offshore/Manufactured Products segment's revenues were $107.40 million in Q1 FY18 compared to $91.31 million in Q1 FY17. The segment's operating income stood at $12.45 million in the reported quarter versus $9.46 million in the last year's comparable quarter. Moreover, the segment's adjusted EBITDA also increased to $19.07 million in Q1 FY18 from $16.14 million in Q1 FY17.
Balance Sheet
For the quarter ended March 31, 2018, Oil States used cash in its operating activities of $12.25 million compared to net cash flows provided by operating activities of $31.56 million in the previous year's same quarter. As on March 31, 2018, the Company had a cash and cash equivalents balance of $25.15 million compared to $53.46 million as on December 31, 2017. Furthermore, the Company reported a long-term debt and capitalized leases balance of $377.95 million as on March 31, 2018, compared to $4.87 million as on December 31, 2017.
Stock Performance Snapshot
May 16, 2018 - At Wednesday's closing bell, Oil States International's stock slightly rose 0.27%, ending the trading session at $36.80.
Volume traded for the day: 606.65 thousand shares.
Stock performance in the last month - up 18.71%; previous three-month period - up 28.00%; past twelve-month period - up 23.28%; and year-to-date - up 30.04%
After yesterday's close, Oil States International's market cap was at $2.21 billion.
The stock is part of the Basic Materials sector, categorized under the Oil & Gas Equipment & Services industry. This sector was up 0.5% at the end of the session.
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