| --- | --- | --- | --- | |---------------|-------|-------|-------| | | | | | | ® OCEANEERING | | | | Forward‐Looking Statements In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, Oceaneering cautions that statements in this presentation that express a belief, expectation, or intention are forward looking. Forward‐looking statements are generally accompanied by words such as "estimate," "project," "predict," "believe," "expect," "anticipate," "plan," "fore ...

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 March 31, 2021 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) (S ...

Oceaneering International, Inc. (NYSE:OII) Q1 2021 Earnings Conference Call April 29, 2021 11:00 AM ET Company Participants Mark Peterson - Vice President-Corporate Development and Investor Relations Rod Larson - President and Chief Executive Officer Alan Curtis - Senior Vice President and Chief Financial Officer Conference Call Participants Mike Sabella - Bank of America Ian Macpherson - Simmons Taylor Zurcher - Pickering and Holt Blake Gendron - Wolfe Research Samantha Hoh - Evercore ISI David Smith - Hei ...

UNITED STATES Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 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. SECURITIES AND EXCHANGE COMMISSION (I.R.S. Employer Identification No.) (713) 329-4500 (Registran ...

Financial Data and Key Metrics Changes - For Q4 2020, the company reported a net loss of $25 million or $0.25 per share on revenue of $424 million, with adjusted net income of $1.8 million or $0.02 per share [8][20] - The cash balance increased by $78 million from $374 million at December 31, 2019, to $452 million at December 31, 2020 [6][23] - Consolidated adjusted EBITDA for Q4 2020 was $47.1 million, higher than the third quarter and exceeding guidance and consensus estimates [9][10] - For the full year 2020, the company reported a net loss of $497 million or $5.01 per share on revenue of $1.8 billion, with an adjusted net loss of $26.5 million or $0.27 per share [20][22] Business Segment Data and Key Metrics Changes - Subsea Robotics (SSR) adjusted operating income improved sequentially despite lower revenue, with an adjusted EBITDA margin of 33% in Q4 2020 [11][12] - Manufactured Products segment saw an adjusted operating income margin increase to 9% in Q4 2020 from 5% in Q3 2020, despite lower revenue due to supplier delays [15] - Offshore Projects Group (OPG) adjusted operating income improved sequentially due to better pricing and activity in the Gulf of Mexico [16][44] - Integrity Management and Digital Solutions (IMDS) segment reported higher adjusted operating income driven by effective personnel use [17] - Aerospace and Defense Technologies (ADTech) segment saw improved adjusted operating income from higher revenue [18] Market Data and Key Metrics Changes - Analysts forecast Brent pricing to stabilize in the $55 to $60 per barrel range for 2021, supporting reasonable levels of IMR activity [33] - The floating rig count is expected to remain close to year-end 2020 levels of approximately 130 contracted rigs [34] - Sanctioning levels for offshore projects are projected to increase in 2021 to around $55 billion [34] Company Strategy and Development Direction - The company aims to generate positive free cash flow in 2021, with a consolidated adjusted EBITDA range of $160 million to $210 million [7][35] - Focus on energy transition strategies, including investments in clean energy technologies and partnerships for new projects [30][32] - The company is committed to maintaining capital discipline and reducing capital expenditures to between $50 million and $70 million in 2021 [39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenges posed by the COVID-19 pandemic and the oil price collapse, highlighting improved operational results [6][24] - The company anticipates that 2021 will see a recovery in project sanctioning and increased activity levels in the energy sector [33][35] - Management noted that the company is well-positioned to handle its $500 million bond maturity in November 2024 [38] Other Important Information - The company achieved a record low total recordable incident rate (TRIR) of 0.3% for 2020, reflecting a strong commitment to safety [28] - The company implemented cost and process improvement programs targeting $125 million to $160 million in cost reductions [24][25] Q&A Session Summary Question: Details on manufacturing products and awards in 2021 - Management indicated that major projects will run throughout the year, and some incoming orders are expected in the first half of 2021 [53][54] Question: Comparison of new energy markets to traditional markets - Management noted improvements in establishing value and technology in new energy markets, leading to better relationships and opportunities [55][57] Question: Confidence in 2021 EBITDA guidance - Management expressed confidence in reaching the midpoint of the EBITDA guidance, driven by stable commodity prices and increased IMR activity [62][63] Question: Outlook for manufactured products segment - Management suggested that 2020 was likely a low point for the manufactured products segment, with expectations for improvement in 2021 [65][66] Question: Insights on Gulf of Mexico operations - Management highlighted that maintenance work could increase if new development slows, providing opportunities for IMR services [72][73] Question: Energy transition opportunities - Management emphasized the importance of focusing on energy transition markets, including subsea mining and hydrogen production [81][82]

| --- | --- | --- | --- | --- | --- | |-----------------------|-------|-------|-------|-------|-------| | | | | | | | | Investor Presentation | | | | | | | January 2021 | | | | | | | | | | | | | Forward-Looking Statements 2 In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, Oceaneering cautions that statements in this presentation that express a belief, expectation, or intention are forward looking. Forward-looking statements are generally accompanied by w ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 11911 FM 529 Houston, Texas 77041 (Address of principal executive offices) (Zip Code) FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 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. (NYSE:OII) Q3 2020 Earnings Conference Call October 29, 2020 11:00 AM ET Company Participants Mark Peterson - Vice President, Corporate Development & IR Roderick Larson - President & Chief Executive Officer Alan Curtis - Senior Vice President & Chief Financial Officer Conference Call Participants Ian MacPherson - Simmons Sean Meakim - JP Morgan Taylor Zurcher - Tudor, Pickering, Holt Mike Sabella - Bank of America Kurt Hallead - RBC Blake Gendron - Wolfe Research David Smith ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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) FORM 10-Q Delaware 95-2628227 (State or other jurisdiction of incorporation or organization) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 11911 FM 5 ...

Financial Data and Key Metrics Changes - The company generated adjusted EBITDA of $40.5 million for Q2 2020, exceeding consensus estimates, and produced $26.9 million of free cash flow [6][10] - The consolidated adjusted EBITDA margin was 9%, a decline of only 14 basis points compared to Q1 2020, despite a 20% decrease in revenue [7][10] - Cash and cash equivalents at the end of the quarter were $334 million [10] Business Segment Data and Key Metrics Changes - ROV adjusted EBITDA margin remained relatively unchanged at 31%, with a 12% sequential revenue decline due to a 9% decrease in ROV days on hire [10][11] - Subsea products experienced a 33% revenue decline, but adjusted operating margin remained consistent with Q1 2020 due to cost reduction efforts [14] - Advanced technologies segment improved adjusted operating results by $1.7 million sequentially, driven by strong government business performance [18] Market Data and Key Metrics Changes - The average number of working floating rigs decreased from approximately 121 in Q1 to 96 in Q2, a 21% decline [13] - The subsea products backlog decreased from $528 million at the end of Q1 to $486 million at the end of Q2 [15] - The company’s drill support market share increased from 61% to 62% despite the overall decline in the number of floating rigs [13] Company Strategy and Development Direction - The company is focused on maintaining liquidity and balance sheet strength while navigating uncertainties in the oil and gas markets due to COVID-19 [25][26] - A targeted reduction of annualized expenses in the range of $125 million to $160 million is expected by the end of 2020, with approximately $85 million of annualized cost reductions already initiated [23][24] - The company anticipates continued softness in demand for services and products within its energy businesses, but expects good performance from government businesses [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with Q2 results despite challenges, noting that operational disruptions due to COVID-19 were limited by safety protocols [6][9] - The outlook for the second half of 2020 remains uncertain, with expectations of continued impacts from COVID-19 and potential reductions in customer spending [20][21] - Management emphasized the importance of adapting to new ways of working and achieving decarbonization goals through digitization and automation [26] Other Important Information - The company is not providing segment financial guidance for Q3 and the second half of 2020 due to uncertainties [22] - Capital expenditure guidance is set between $45 million to $65 million for 2020, with expectations of positive free cash flow for the year [22][26] Q&A Session Summary Question: Can you elaborate on the cost-out program and what major buckets are left to reach your target? - Management indicated that cost reductions are evenly distributed across all segments, with some opportunities still available in regional locations and facilities [31][32] Question: What is the expected operating free cash flow number excluding working capital and tax items? - Management discussed that the free cash flow guidance includes a one-time event from the CARES Tax Act, with expectations for working capital to free up cash towards the end of the year [40][46] Question: Can you provide insights on subsea products and revenue progression in that segment? - Management expects a return to more traditional revenue streams in the back half of the year, driven by backlog execution [50] Question: How do you view the ultra-deepwater activity environment moving forward? - Management acknowledged the potential for market recovery but emphasized the uncertainty surrounding COVID-19 and commodity prices [54][56] Question: What is the current status of the Angola project work? - Management noted that mobilization challenges due to COVID-19 have delayed the project, with uncertainty about completion in 2020 [90] Question: Can you discuss the governance around the debt and any adjustments allowed in covenants? - Management confirmed that the company is in a strong liquidity position, with debt covenants allowing for flexibility [86][87] Question: What are the expectations for the energy transition and renewable projects? - Management highlighted ongoing work in offshore wind projects and the company's capabilities in marine construction as key areas for growth [117][120]