Core Insights - Oceaneering International, Inc. (OII) reported an adjusted profit of 49 cents per share for Q2 2025, exceeding the Zacks Consensus Estimate of 42 cents and up from 28 cents in the same quarter last year, driven by strong operating income across its segments [1][9] - Total revenues reached $698.2 million, aligning with the Zacks Consensus Estimate and reflecting a 4.4% increase from $668.8 million in the prior year, attributed to robust revenue contributions from various segments [2][9] - Adjusted EBITDA for the quarter was $103.3 million, marking a 20.3% year-over-year increase, indicating strong operational execution [2][9] Revenue Breakdown by Segment - **Subsea Robotics**: Revenues were $218.8 million, slightly up from $215 million year-over-year, but missed the estimate of $242.8 million. Operating income increased to $64.5 million from $61.8 million, surpassing the estimate of $63.1 million, with an EBITDA margin of 35% and ROV fleet utilization at 67% [4] - **Manufactured Products**: This segment reported revenues of $145.1 million, up from $139.3 million a year ago, exceeding the estimate of $139.4 million. Operating profit rose to $18.8 million from $14.4 million, also beating the estimate of $15.3 million [5] - **Offshore Projects Group**: Revenues increased by 3.6% to $149.3 million from $144.1 million year-over-year, but fell short of the estimate of $144.6 million. Operating income improved to $21.7 million from $13.2 million, exceeding the estimate of $21.4 million [6][7] - **Integrity Management & Digital Solutions**: Revenues were $75.4 million, up from $73.5 million year-over-year, beating the estimate of $73.8 million [8] - **Aerospace and Defense Technologies**: Revenues totaled $109.6 million, an increase from $97 million in the prior year, surpassing the estimate of $98 million. Operating income rose to $16.3 million from $7.2 million, exceeding the estimate of $10 million [10][11] Financial Position - As of June 30, 2025, OII had cash and cash equivalents of $434 million and long-term debt of approximately $484.6 million, resulting in a debt-to-total capital ratio of 36.4% [12] Future Outlook - For Q3 2025, OII anticipates an increase in consolidated revenues compared to Q3 2024, with EBITDA expected to range between $100 million and $110 million. Growth is expected in Subsea Robotics and Manufactured Products, while Offshore Projects Group may see a decline in operating profitability [13][14] - For the full year 2025, consolidated revenues are projected to grow at a mid-single-digit percentage rate, with adjusted EBITDA anticipated to be between $390 million and $420 million [15]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-10945 ____________________________________________ OCEANEERING INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) (St ...

Financial Data and Key Metrics Changes - The company reported a net income of $54.4 million, or $0.54 per share, for Q2 2025, with consolidated revenue increasing to $698 million, a 4% increase year-over-year [5][6] - Consolidated operating income rose by 31% to $79.2 million, and consolidated adjusted EBITDA grew by 20% to $103 million [6][20] - Free cash flow for the quarter was $46.9 million, with an ending cash position of $434 million and no borrowings under the secured revolving credit facility [6][7] Business Segment Performance - Subsea Robotics (SSR) saw operating income improve by 4% to $64.5 million, with revenue increasing approximately 2% and an EBITDA margin of 35% [8][9] - Manufactured Products generated operating income of $18.8 million, marking a 31% rise, with revenue growing by 4% to $145 million [10][11] - Offshore Projects Group (OPG) reported operating income of $21.7 million, with revenue increasing by 4% and operating income margin expanding to 15% [12][13] - Aerospace and Defense Technologies (AdTech) operating income increased by 125% to $16.3 million, with a 13% increase in revenue [15][17] Market Data and Key Metrics Changes - ROV revenue per day increased to $11,065, with fleet utilization at 67% [5][8] - The company maintained a 60% share of the contracted floating rig market with ROV contracts on 81 of the 136 floating rigs under contract [9] - The company anticipates continued tendering activity supportive of ROV utilization and pricing assumptions, particularly in decommissioning opportunities in Europe [9][10] Company Strategy and Industry Competition - The company remains positive about growth in both energy and aerospace and defense markets, with expectations for continued growth beyond 2025 [23] - The recent reconciliation bill is expected to positively impact all three AdTech business lines over the next five years, particularly in unmanned underwater vehicles [18][23] - The company is gearing up to increase capacity to serve the submarine maintenance and repair market due to anticipated funding increases [55] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to sustain market share and improve operational results across segments [21][22] - The outlook for Q3 2025 includes expected increases in consolidated revenue and EBITDA, with projections for SSR and AdTech showing significant growth [19][20] - Management noted that visibility into future contracts has improved, particularly with larger international contracts [49] Other Important Information - Unallocated expenses for the quarter were $46.7 million, slightly higher than guidance [19] - The company has secured order commitments totaling approximately $100 million in the first weeks of Q3 2025 [11][32] Q&A Session Summary Question: Impact of offshore rig white space on business - Management acknowledged some impact but noted that pricing improvements have offset concerns, with expectations for ROV utilization to reach 70% by year-end [26][27] Question: Orders in the manufactured product segment - Management indicated that orders are expected to be flat year-over-year, with positive signals for 2026 [30][32] Question: ROV utilization outlook - Management stated that the lower utilization outlook relates to both vessel and rig support, with increased clarity on plans for Q4 [39][40] Question: Free cash flow visibility - Management highlighted that cash flow typically rebounds in Q3 and Q4, with significant amounts sitting in receivables [42][44] Question: OPG business visibility - Management confirmed improved visibility due to securing larger contracts, which stabilizes the business [48][49] Question: Potential impact of the reconciliation bill - Management discussed the positive implications for OTEC and other business lines, particularly in defense and space sectors [50][55]

Oceaneering International (OII) Q2 2025 Earnings Call July 24, 2025 11:00 AM ET Speaker0Welcome to Oceaneering's Second Quarter twenty twenty five Earnings Conference Call. My name is Rob, and I will be your conference operator. All lines have been placed on mute to prevent any background noise. There will be a question and answer period after the speakers' remarks. With that, I will now turn the call over to Hilary Frisbee, Oceaneering's Senior Director of Investor Relations.Speaker1Thanks, Rob. Good morni ...

Oceaneering International (OII) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.28 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +16.67%. A quarter ago, it was expected that this oilfield services company would post earnings of $0.36 per share when it actually produced earnings of $0.43, delivering a surprise of +19.44%. Over the l ...

Exhibit 99.1 Oceaneering Reports Second Quarter 2025 Results HOUSTON, July 23, 2025 – Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) today reported second quarter 2025 results. Rod Larson, Oceaneering's President and Chief Executive Officer, stated, "I am pleased to report another strong quarter, in which we delivered the considerable quarterly year-over-year increases noted above. We achieved these results through commencement of recent contract awards in Aerospace and Defense Technologies (ADT ...

Core Viewpoint - Oceaneering International, Inc. (OII) is expected to report second-quarter earnings on July 23, with earnings estimated at 42 cents per share and revenues at $698.5 million, reflecting a year-over-year increase of 4.4% from $668.8 million in the same quarter last year [1][7]. Group 1: Recent Performance - In the last reported quarter, OII's earnings were 43 cents per share, exceeding the Zacks Consensus Estimate by 7 cents, driven by strong operating income from Subsea Robotics and Offshore Projects Group [2]. - OII's revenues for Q1 were $675 million, surpassing the Zacks Consensus Estimate by 1.7% [2]. - Over the past four quarters, OII has beaten the consensus estimate once and missed three times, with an average negative surprise of 10.2% [3]. Group 2: Revenue and Growth Factors - The anticipated revenue growth for OII in Q2 is attributed to increased demand from the offshore energy industry, particularly in deepwater exploration and production [4]. - The Subsea Robotics segment is projected to see a revenue increase of approximately 13%, contributing significantly to the overall revenue growth [5]. - OII's backlog is expected to improve by about 20% year-over-year, indicating strong future demand [5]. Group 3: Cost and Margin Considerations - OII's cost of services and products is projected to rise by 3.2% to $566 million, which may pressure profit margins [9]. - Selling, general, and administrative expenses are expected to increase from $59.8 million to $62.6 million during the same period [9]. Group 4: Market Position and Client Relationships - OII benefits from strong relationships with financially stable exploration and production companies, which provide consistent revenues and stability [6]. - The company's focus on long-term contracts helps mitigate exposure to short-term market fluctuations, contributing to a more stable revenue stream [8].

Key Takeaways Oceaneering won a 3-year, $80M-$90M contract from Esso Angola for subsea services starting July 1, 2025. The deal includes advanced ROVs, IWOCS, hydrate remediation, inspection and satellite systems. OII's local subsidiaries support workforce development, aligning with Angola's national content goals.Oceaneering International (OII) , a global leader in engineered services and products, has once again demonstrated its unmatched capability in offshore operations by securing a significant contr ...

Core Insights - Oceaneering International, Inc. (OII) has secured a $33 million fixed-price IDIQ contract from the Naval Surface Warfare Center Philadelphia Division to provide support equipment for Virginia Class Submarines, reinforcing its position in the defense sector and showcasing its engineering capabilities in underwater technologies [1][10][19] Contract Overview - The IDIQ contract spans five years, with a total value of approximately $33 million if all options are exercised, starting in June 2025 [2][15] - The contract involves the production of specialized work platforms for maintenance operations on Virginia Class Submarines, crucial for repairs and inspections [2][12] Strategic Importance of Virginia Class Submarines - Virginia Class Submarines are vital to the U.S. Navy's attack submarine force, designed for various missions with advanced stealth and surveillance capabilities [4] - The maintenance of these submarines requires highly technical access, necessitating customized work platforms [5] OII's Aerospace and Defense Technologies Segment - OII's ADTech segment focuses on delivering engineered solutions for defense requirements, including unmanned systems and maritime support technologies [6][7] - The segment's expertise in subsea engineering allows OII to provide innovative and reliable solutions tailored to military specifications [7] Engineering and Manufacturing Excellence - OII will manufacture work platforms using high-grade materials and advanced processes, ensuring safety and structural integrity for personnel [8][9] - The company is recognized as a preferred vendor for precision-engineered military equipment, meeting U.S. Navy performance standards [9] Impact on OII's Strategic Growth - The $33 million contract enhances OII's defense portfolio, providing revenue visibility and potential for long-term contracts with the U.S. Department of Defense [15][16] - This deal aligns with OII's strategy to diversify revenue streams beyond traditional offshore energy services [16] Outlook and Industry Position - The contract positions OII to support next-generation military hardware, with increasing demand for modular and durable support systems [17] - Success in this contract may lead to further opportunities with other naval platforms, including Columbia Class submarines and aircraft carriers [18]

Core Insights - Oceaneering International, Inc. has signed a vessel services agreement to deploy the MPSV Harvey Deep Sea for subsea operations in the Gulf of Mexico, marking a strategic move to secure long-term revenues and enhance operational efficiency [1][2] Group 1: Vessel Services Agreement - The agreement with a major operator is a significant step for Oceaneering, reinforcing its position in the Gulf of Mexico's subsea market and supporting the expansion of its subsea service offerings [2][4] - The MPSV Harvey Deep Sea, built in 2013 and chartered through February 2027, is equipped with advanced technology, including Millennium work-class remotely operated vehicles, to perform complex subsea inspection, maintenance, repair, and installation tasks [3][9] Group 2: Financial Performance - In Q2 2025, Oceaneering's Offshore Projects Group segment accounted for approximately 24% of the company's revenues, reflecting a year-over-year increase of about 43.4% [4] - The segment's operating income surged to $35.7 million from $844,000 a year earlier, indicating a strong rebound and highlighting its strategic importance for the company's earnings [4] Group 3: Operational Efficiency - The vessel services agreement enhances regional vessel availability, optimizes equipment usage, and reduces project scheduling uncertainty, thereby reinforcing Oceaneering's ability to deliver safe and efficient project execution [5]