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Oil States hits 12-year high in backlog amid surge in offshore demand

The Motley Fool +1 · ·by G4L

OIS
OIS Oil States International Inc
$8.57 +0.23%
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  1. 1Oil States recorded $170 million in revenue and $20 million in adjusted EBITDA for the third quarter.
  2. 2The backlog reached $482 million, achieving a high not seen in approximately 12 years.
  3. 3The board decided to approve a $50 million two-year share buyback program.

So what's the key point?

Oil States has reached its highest level of orders in 12 years due to rising demand for offshore equipment. The company has also decided to buy back its own shares to provide value to shareholders.

Source The Motley Fool +1 · View original ↗

Related 3-line summaries

Oil States International Inc. reports $3.1 million in Q3 net income Associated Press +1 · Oct 31Oil States International Inc faces scrutiny over 10-year high backlog and guidance Earnings Whispers +2 · Oct 23Marriott Q2 RevPAR up 3.4%, raises full-year guidance Quartz +3 · Aug 3
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