Highlights of Q1 Earnings Trend in Estimate Revision OII's revenues are likely to have improved in the quarter to be reported. Our model predicts second-quarter revenues to increase to $676.4 million from the year-ago quarter's level of $597.9 million. This can be attributed to the robust performance of the energy services and products, including Subsea Robotics, Manufactured Products, Offshore Projects Group and Integrity Management & Digital Solutions segments. What Does Our Model Say? Stocks to Consider ...

First Contract: Scope and Commitment He also reaffirmed OII's position as a premier provider of vessel services in the Gulf of Mexico, highlighting the company's pride in its industry leadership and ongoing commitment to promoting strong client partnerships. Denver, CO-based SM Energyis valued at $5.57 billion. The company currently pays a dividend of 72 cents per share, or 1.49%, on an annual basis. Conclusion Oceaneering International, Inc. (OII) , a leading supplier of offshore equipment and technology s ...

Oceaneering International, Inc.'s (OII) Manufactured Products division has secured a major contract from a U.S. independent energy company. The contract is valued at roughly $50 million and involves supplying a specialized underwater cable for a project in the Gulf of Mexico. This deal highlights OII's strong reputation in the industry and its capacity to deliver high-quality products in a timely manner. Manufacturing Details Manufacturing of the umbilical is scheduled to take place at OII's facility in Pan ...

Oceaneering International, Inc. (OII) , a leading supplier of offshore equipment and technology solutions to the energy industry, declared that its Manufactured Products segment won two major contracts with Petrobras (PBR) , Brazil's state-run oil and gas company, through a competitive bidding process.These contracts are expected to generate net revenues between $120 million and $183 million. Let's delve into the details of these contracts, the significance of the products being supplied and the broader imp ...

Oceaneering International, Inc. (OII) and TotalEnergies SE (TTE) , a France-based integrated oil and gas company, joined forces to unveil a revolutionary advancement in pipeline inspection technology — the Freedom Autonomous Underwater Vehicle ("AUV"). This innovative solution promises to revolutionize the landscape of sub-marine pipeline inspections, setting a new standard for sustainable commercial missions. Redefining Pipeline Inspection Standards The recent collaboration between OII, a provider of oil a ...

Core Viewpoint - Oceaneering International's recent earnings report showed a mixed performance, with adjusted profits missing estimates but overall revenues increasing year-over-year, indicating potential growth despite current challenges [2][3]. Financial Performance - The first-quarter 2024 adjusted profit was 14 cents per share, missing the Zacks Consensus Estimate of 30 cents, primarily due to lower operating income from the Offshore Projects Group [2]. - Total revenues reached $599.1 million, missing the Zacks Consensus Estimate of $614 million, but representing an 11.6% increase from $537 million in the same quarter last year [3]. Segmental Information - **Subsea Robotics**: Revenues were $186.9 million, up from $169.2 million year-over-year, but below the projection of $195.4 million. Operating income was $44.2 million, compared to $33.7 million a year ago [5]. - **Manufactured Products**: Revenues increased to $129.5 million from $112.9 million, exceeding projections. Operating profit rose to $13.2 million from $11.3 million [6]. - **Offshore Projects Group**: Revenues increased by 10.4% to $115.1 million, but operating income fell significantly to $844,000 from $5.5 million year-over-year [8]. - **Integrity Management & Digital Solutions**: Revenues rose to $69.7 million from $60.1 million, with operating income slightly increasing to $3.6 million [9]. - **Aerospace and Defense Technologies**: Revenues grew to $98 million from $90.5 million, with operating income rising to $12.8 million from $8.5 million [10]. Capital Expenditure & Balance Sheet - Capital expenditure for the first quarter totaled $25 million. As of March 31, 2024, cash and cash equivalents were $354.7 million, with long-term debt at approximately $478.2 million, resulting in a debt-to-total capital ratio of 43.2% [11]. Outlook - Oceaneering anticipates significant increases in activity levels and operating profitability for the Offshore Projects Group, Subsea Robotics, and Manufactured Products in the second quarter of 2024 [12]. - Integrity Management & Digital Solutions and Aerospace and Defense Technologies are expected to remain flat, with slight declines in operating profitability [13]. - The company projects second-quarter 2024 EBITDA in the range of $80-$90 million, reflecting a mid-teens percentage increase in revenues [13][14]. Industry Performance - Oceaneering International is part of the Zacks Oil and Gas - Field Services industry, which has seen mixed performance. Liberty Oilfield Services, a peer in the industry, reported a revenue decline of 15% year-over-year [18][19].

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, 2024 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 (OII) reported first-quarter 2024 adjusted profit of 14 cents per share, which missed the Zacks Consensus Estimate of 30 cents. This underperformance was due to lower-than-expected operating income from the Offshore Projects Group segment.However, the bottom line outpaced the year-ago quarter’s reported figure of 5 cents.  This can be attributed to year-over-year strong operating income from certain segments — Subsea Robotics, Manufactured Products, Integrity Management & Digital S ...

Oceaneering International, Inc. (NYSE:OII) Q1 2024 Earnings Conference Call April 25, 2024 10:00 AM ET Company Participants Hilary Frisbie - Senior Director, Investor Relations Rod Larson - President & Chief Executive Officer Alan Curtis - Senior Vice President & Chief Financial Officer Mark Peterson - Vice President, Corporate Development & Investor Relations Conference Call Participants Kurt Hallead - Benchmark Bill Austin - Daniel Energy Partners Operator Welcome, everyone, to Oceaneering's 2024 First Qu ...

Exhibit 99.1 Oceaneering Reports First Quarter 2024 Results HOUSTON, April 24, 2024 – Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) today reported net income of $15.1 million, or $0.15 per share, on revenue of $599 million for the three months ended March 31, 2024. Adjusted net income was $13.9 million, or $0.14 per share, reflecting the positive impact of $(2.2) million in foreign exchange gains, and the associated $0.8 million of tax effects, along with $0.2 million of expenses related to dis ...