Financial Data and Key Metrics Changes - Oceaneering reported a positive net income and solid financial performance for Q2 2021, with a sequential increase in activity as four out of five operating segments delivered an average revenue increase of over 19% [7] - Adjusted EBITDA for the quarter was $60.6 million, exceeding consensus estimates, and the company raised its EBITDA guidance range for 2021 to $200 million to $225 million [8][11][45] - Cash from operating activities was $50.5 million, with free cash flow generation of $37.9 million after capital expenditures of $12.6 million [12] Business Line Data and Key Metrics Changes - Subsea Robotics (SSR) segment saw adjusted operating income improve with nearly 20% higher revenue, maintaining an adjusted EBITDA margin of 31% [15] - The Offshore Projects Group (OPG) experienced a decline in adjusted operating income margin from 10% in Q1 2021 to 7% in Q2 2021, despite increased revenue due to unplanned downtime [22][23] - Integrity Management and Digital Solutions (IMDS) reported a 19% increase in revenue, with adjusted operating income margin rising to 7% from 5% in the previous quarter [24] Market Data and Key Metrics Changes - The company noted a return of confidence in the energy services industry, particularly for companies assisting with carbon reduction goals, and an expected rebound in mobility solutions and government businesses [9][46] - ROV days on hire increased to 14,005 in Q2 from 11,887 in Q1, with fleet utilization rising to 62% from 53% [17][18] Company Strategy and Development Direction - Oceaneering's strategy focuses on generating positive free cash flow, retaining talent, addressing debt maturity, and leveraging technologies into new markets [47] - The company anticipates continued growth in the energy services sector, driven by supportive commodity prices and increased demand for carbon reduction solutions [8][46] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the gradual increase in deepwater activity and contract renewals, indicating a shift towards longer contracts [50] - The company is monitoring inflation and supply chain issues but believes its contracts are well insulated from significant impacts [52][54] Other Important Information - Oceaneering's cash position increased by $13.3 million, resulting in a cash balance of $456 million at the end of Q2, with no borrowings against its $500 million revolving credit facility [13][43] - The company expects free cash flow in 2021 to exceed that generated in 2020, and it is well-positioned to address the maturity of its 2024 senior notes [44][45] Q&A Session Summary Question: Visibility for deepwater activity going into 2022 - Management noted a gradual increase in activity with longer contracts being sought, but no immediate spikes in rig counts [50] Question: Coping with inflation and supply chain issues - Management indicated that ADTech work is insulated from many changes, but labor costs may rise, which will be communicated to customers [52][54] Question: CapEx budget for next year - Management highlighted the importance of monitoring ROV upgrades and potential new contracts, indicating that growth CapEx may increase but should remain a percentage of revenue [60][62] Question: Target leverage ratio and capital allocation priorities - Management expressed a preference for a lower leverage ratio while balancing growth CapEx and maintaining financial flexibility [63][67] Question: Drivers for high and low ends of EBITDA guidance - The primary drivers include the level of IMR activity and seasonal trends in both Subsea Robotics and OPG [72] Question: Market adoption of new technologies - Management discussed the demand for Isurus systems in shallow water renewables work and the potential for retrofitting existing systems to enhance efficiency [74][76]

| --- | --- | --- | --- | |---------------|-------|-------|-------| | | | | | | ® 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 ____________________________________________ ...

Financial Data and Key Metrics Changes - The consolidated adjusted EBITDA for Q3 2020 was $45.1 million, exceeding public consensus and showing improvement compared to Q2 2020 [7][8] - The cash position increased to $359 million at September 30, 2020, up by $25.3 million from June 30, 2020, with $19 million of free cash flow generated [8][17] - Adjusted operating income improved by $5.1 million sequentially from Q2 2020 [8] Business Line Data and Key Metrics Changes - Subsea robotics adjusted operating income declined by $1.3 million on flat revenue compared to Q2 2020, with adjusted EBITDA margin decreasing from 32% to a lower percentage [9] - Manufactured products saw a 10% increase in revenue, with adjusted operating income improving slightly [13] - The aerospace and defense technology segment reported slightly higher sequential adjusted operating results on slightly higher revenue [15] Market Data and Key Metrics Changes - The average number of working floating rigs decreased to 85 in Q3 2020 from 96 in the prior quarter, impacting drill support services [11] - The drill support market share decreased to 57% with ROV contracts on 76 of the 133 floating rigs under contract at the end of September [12] Company Strategy and Development Direction - The company is focused on generating free cash flow and preserving liquidity, with a capital discipline policy in place [28] - A plan was announced to reduce annualized expenses by $125 million to $160 million by the end of 2020, with approximately $100 million of cost reductions initiated [24] - The company anticipates continued headwinds in the oil sector for 2021 but expects consolidated activity levels and EBITDA performance to resemble 2020 [25] Management's Comments on Operating Environment and Future Outlook - Management expects Q4 2020 results to decline sequentially due to lower seasonal offshore activity and customer budget exhaustion [18] - The tone from customers indicates a focus on maintaining production with minimal capital expenditure, particularly in integrity management [56] - Management is optimistic about the potential for free cash flow in 2021, driven by a release from receivables and ongoing cost improvements [42][43] Other Important Information - The company has a backlog of $318 million as of September 30, 2020, down from $380 million at the end of Q2 2020 [13] - Capital expenditures for Q3 2020 totaled $8 million, with a guidance range for full-year capital expenditures narrowed to $50 million to $60 million [17][23] Q&A Session Summary Question: Outlook for subsea robotics and manufactured products - Management expressed confidence in the subsea robotics segment, expecting a gradual recovery without a V-shaped rebound, and noted that manufactured products could stabilize with ongoing smaller projects [33][34] Question: Expectations for free cash flow in 2021 - Management clarified that significant free cash flow expectations for 2021 do not include CARES Act funds, focusing instead on maintaining EBITDA levels and working capital releases [42] Question: Maintenance spending outlook - Management indicated that integrity management spending is expected to remain strong, as companies prioritize cost avoidance and operational integrity [56] Question: Renewable energy segment exposure - Management acknowledged ongoing work in the renewable energy sector, particularly in offshore wind, but noted that it remains a small part of the overall business [70][71] Question: AdTech revenue breakdown - Management confirmed that 100% of the aerospace and defense technology segment is government-related, with a smaller portion attributed to space activities [76] Question: Cost-out program progress - Management indicated that they expect to achieve significant cost reductions by the end of 2020, with ongoing efforts to identify further savings in 2021 [49]

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 ...