Business Context and Reporting Period
Company: Oil States International, Inc. (OIS)
Filing Type: Form 8-K (Current Report)
Date of Report: February 27, 2025
Reporting Period: The filing addresses events occurring on February 27, 2025, and references the two most recent fiscal years ended December 31, 2024, and December 31, 2023, as well as the interim period from January 1, 2025, through February 27, 2025.
Key Financial Metrics
This filing is a Current Report regarding a change in the independent registered public accounting firm. It does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing text does not provide a clear value for any financial metrics.
Material Changes
- Dismissal of Auditor: On February 27, 2025, the Audit Committee dismissed Ernst & Young LLP (EY) as the independent registered public accounting firm.
- Appointment of New Auditor: On February 27, 2025, the Audit Committee appointed Deloitte & Touche LLP (Deloitte) as the new independent registered public accounting firm for the fiscal year ending December 31, 2025, and related interim periods.
- Audit History: The Company reported no disagreements with EY regarding accounting principles, financial statement disclosure, or auditing scope during the two most recent fiscal years or the subsequent interim period. No "reportable events" occurred.
- Opinion Status: EY's audit reports for the fiscal years ended December 31, 2024, and December 31, 2023, did not contain adverse opinions, disclaimers, or qualifications.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms that EY was provided a copy of the report prior to filing and requested to provide a letter to the SEC regarding the statements made. EY's letter, dated March 4, 2025, is filed as Exhibit 16.1.
Consultations: The Company confirmed that neither it nor anyone on its behalf consulted Deloitte regarding the application of accounting principles or the type of audit opinion during the relevant periods.
Risks and Contingencies: No specific risks, contingencies, or unusual items are disclosed in this filing beyond the standard disclosure of the auditor change.
Investor Verification Checklist
- Verify the content of the letter from Ernst & Young LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Monitor future filings (e.g., 10-K or 10-Q) for the first financial statements audited by Deloitte & Touche LLP.
- Review the Company's subsequent press releases or investor presentations for any explanation regarding the strategic rationale for changing auditors, as none is provided in this 8-K.