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Oil States International Inc. Message Board

  • Bugzie913 Bugzie913 Jul 31, 2012 5:51 PM Flag

    Nice Quarter - from Reuters

    * Q2 adj EPS $1.98 vs est $1.86

    * Q2 revenue up 34 pct to $1.1 bln

    July 31 (Reuters) - Oilfield services company Oil States International Inc's second-quarter results exceeded analysts' estimates, primarily driven by a 33 percent jump in its tubular goods shipments.

    Oil States CEO Cindy Taylor said increased sales of deepwater capital equipment, and the increase in U.S. drilling and completion activity, both onshore and offshore, helped the company during the quarter.

    Net income rose to $111.2 million, or $2.01 per share, from $74.2 million, or $1.34 per share.

    Excluding one-time gains, the company would have earned $1.98 per share, comfortably beating analysts' estimates of $1.86 per share, according to Thomson Reuters I/B/E/S.

    Revenues increased by 33 percent to $1.09 billion, above analysts' expectations of $1.04 billion.

    Revenues at tubular services -- the company's largest segment by far -- rose 39 percent as Oil States gained market share in the U.S. and saw greater demand for higher specification tubulars in shale basins.

    Shares of the houston-based company closed at $72.7 on Tuesday on the New York Stock Exchange

    Bugzie

 
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