Oil States International reported second quarter 2026 results with consolidated revenues of $156.7 million, an 8% sequential increase, and net income of $5.9 million ($0.10 per share). Adjusted EBITDA rose 14% to $19.0 million sequentially. The Offshore Manufactured Products segment saw backlog grow 5% to a record $451 million, supported by $114 million in quarterly bookings and a 1.2x book-to-bill ratio. Downhole Technologies revenues reached $39.7 million, the highest level since Q2 2023. The company retired the remaining $52.7 million principal of its convertible senior notes on April 1, recognizing a $3.6 million loss on extinguishment, and repurchased $5.1 million of common stock during the quarter. Oil States International is a global provider of manufactured products and services to customers in the energy, military, and industrial sectors.

Oil States International, Inc. amended its Executive Agreement with President and CEO Lloyd A. Hajdik on July 9, 2026, restructuring the calculation of severance benefits. Under the amendment, if Mr. Hajdik is terminated without Cause or resigns for Good Reason within 24 months of a Change of Control, he will receive a lump sum severance payment of 3.0 times his Termination Base Salary and Target AICP. Outside of that 24-month window, the severance multiplier is set at 1.5 times. Oil States International, Inc. provides equipment and services to the oil and gas industry.