Oil States reports Q3 revenue growth and 12-year high backlog

Oil States International reported third-quarter 2026 revenue of $170 million and adjusted EBITDA of $20 million, both up sequentially, with growth in Offshore Manufactured Products and Downhole Technologies exceeding guidance. Offshore Manufactured Products revenue reached $104 million, and its backlog climbed to $482 million—the highest in nearly 12 years—as bookings were supported largely by offshore energy projects. The company said offshore and international activity made up 72% of revenue in the first nine months of 2026, reflecting a shift in its business mix. For the fourth quarter, Oil States forecast revenue of $172 million to $184 million and adjusted EBITDA of $20 million to $23 million.