Oil States International, Inc. Provides Earnings Guidance for the Fourth Quarter of 2019
January 23, 2020 at 05:15 pm EST
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Oil States International, Inc. provided earnings guidance for the fourth quarter of 2019. The company's consolidated second quarter results are expected to decline in U.S. land completion activities. it was expected that approximate $92 million with a Segment EBITDA (A) margin of 10%, unaudited revenues for the Downhole Technologies segment are expected to approximate $38 million with a Segment EBITDA margin of 9% and unaudited revenues for the Offshore/Manufactured Products segment are expected to approximate $108 million with a Segment EBITDA margin of 15%. The fourth quarter 2019 Segment EBITDA margin for Offshore/Manufactured Products is expected to be negatively impacted by a $1.7 million bad debt provision on a prior-year receivable from a customer claiming bankruptcy protection. Excluding the $1.7 million provision for bad debt, the estimated Segment EBITDA margin for the Offshore/Manufactured Products segment would have been 16%. These revised estimates are not yet final and are subject to change as the Company completes its financial statement close process for 2019.
Oil States International, Inc. is a global provider of manufactured products and services to customers in the energy, industrial and military sectors. The Company's manufactured products include highly engineered capital equipment, as well as products consumed in the drilling, well construction and production of oil and natural gas. It operates through three segments. The Offshore/Manufactured Products segment designs, manufactures and markets capital equipment utilized on floating production systems, subsea pipeline infrastructure, and offshore drilling rigs and vessels, along with short-cycle and other products. The Well Site Services segment includes a range of equipment and services that are used to drill for, establish and maintain the flow of oil and natural gas from a well throughout its life cycle. The Downhole Technologies segment provides oil and gas perforation systems and downhole tools in support of completion, intervention, wireline and well abandonment operations.
OIL STATES INTERNATIONAL, INC. 
