Oil States International reported net income from continuing operations of $77.9 million, or $1.40 a share, down from $87 million, or $1.57 a share, in the same quarter a year earlier. The period included after-tax charges of 7 cents a share for transaction costs incurred and losses on debt extinguishment. Net earnings were $1.34 a share, down from $1.78 a year earlier. Revenue declined year over year to $675.18 million from $687.04 million.
Analysts polled by Thomson Reuters expected EPS of $1.49 on revenue of $695.8 million.
TheStreet Ratings team rates OIL STATES INTL INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about its recommendation:
"We rate OIL STATES INTL INC (OIS) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and feeble growth in the company's earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: