This week the fuel provider Oil States International, Inc. reported as results a net loss of $19.9 million, or $0.33 per share, for the fourth quarter of 2021. This effect included non-cash impairment charges of $2.2 million; severance; and had restructuring charges of to $0.8 million; and a non-cash foreign currency translation loss of $9.3 million.
Revenues in the fourth quarter
First, along the fourth quarter the fuel manufacture, reached to $161.3 million in profits; also the provider showed an Adjusted Consolidated EBITDA of $13.4 million.
“Our profits and Adjusted Consolidated EBITDA increased sequentially by 15% and 57%; resulted from global challenges as the COVID-19 pandemic, supply chain disruptions and a modest seasonal decline in the processes at the Northeast U.S.”
Oil States’ President and Chief Executive Officer, Cindy B. Taylor.
Also, the income in the Offshore Manufactured Products segment led the growth, with a 34% sequential increase driven primarily by higher sales of project-driven production; as well as in testing or connector products.
Besides the activities in the Rocky Mountain and in the Northeast regions were minor; as the company had to focus on repairing the Hurricane Ida damages at the Gulf of Mexico; this project decreased a 6% the activities in the U.S.
Additionally, the fourth quarter rewards in Downhole Technologies segment were up modestly from the third quarter driven by higher sales of the domestic perforating products.
Expectations for the fuel Company
The goal for the next months guides Oil States to give superior products and services to the customers; they are expected to obtain sustainable returns to the Company and its stakeholders. As the industry activity continues to recover from the harsh effects of the COVID-19 pandemic.
For the year ended on December 31st of 2021, the Company declared a net loss of $64.0 million, earnings of $573.2 million and an Adjusted Consolidated EBITDA of $38.1 million.
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About Oil States
Oil States International, Inc. is a global provider, of manufactured products and services for the clients in the energy, the industrial and the military sectors. This enterprise produces too highly engineered capital equipment and consumable products.
The production of Oil States is headquartered in Houston, Texas. The company has manufacturing and service solutions strategically located across the globe. To get more information visit: https://oilstates.com/
