UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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, 2023 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) Delawar ...

Financial Data and Key Metrics - The company generated $153 million in cash from operating activities in Q4 2023, with free cash flow of $119 million after $34 million in capital expenditures [2] - Consolidated 2023 operating income improved by $70.5 million to $181 million, and adjusted EBITDA increased by $56.4 million to $289 million [7] - The company retired $400 million of 2024 notes and issued a $200 million add-on to its 2028 debt, reducing long-term debt from $700 million in 2022 to $500 million in 2023 [2][10] - Cash balance at the end of 2023 was $462 million, with the nearest debt maturity of $500 million in February 2028 [2][10] Business Segment Performance - SSR segment saw a 32% EBITDA margin in Q4 2023, up from 31% in Q3 2023, driven by improved ROV pricing [3] - Manufactured products revenue increased by 8% in Q4 2023 to $133 million, but operating income margin declined to 4% due to project mix changes and startup costs [5] - ADTech segment operating income margin declined to 12% in Q4 2023 due to project mix changes [6] - OPG segment revenue improved in Q4 2023, but operating income margin declined to 9% from 18% in Q3 2023 due to project mix and pricing changes [82] Market and Industry Outlook - The company expects positive free cash flow of $110 million to $150 million and EBITDA of $330 million to $380 million in 2024 [1] - The autonomous forklift market is projected to grow by over 10% year-over-year, with the mobile robotics industry expected to grow by over 20% by 2030 [12] - The company anticipates improved pricing and margins in energy-focused businesses and stable pricing in government-focused businesses in 2024 [13] Strategic Direction and Competition - The company is focusing on leveraging its digital and robotics expertise to improve efficiency and reduce carbon emissions [11] - It acquired an uncrewed surface vessel (USV) to enhance its survey capabilities and saw a 266% increase in orders for its MaxMover autonomous forklift in 2023 [8] - The company secured a five-year contract with Petrobras for DPR systems, strengthening its presence in Brazil [85] Management Commentary on Operating Environment and Future Prospects - Management expects government-related markets to remain stable with modest growth, while offshore renewables and greenhouse gas reduction initiatives present growth opportunities [12] - The company anticipates improved ROV pricing, with potential to reach $11,000 per day by the end of 2024 [33][109] - Management highlighted the importance of operational efficiency and cost absorption in improving margins for manufactured products [110] Other Important Information - The company achieved 99% uptime in its SSR drill support ROV operations in 2023 and successfully completed its first commercial project using the Freedom hybrid ROV/AUV [67] - The ADTech segment secured contracts for space systems and defense technologies, including submarine rescue systems and ROVs [68] - The company published its 2022 Scope 1 and Scope 2 emissions report and established greenhouse gas reduction targets as part of its sustainability initiatives [70] Q&A Session Summary Question: ROV Pricing Trends - Management expects ROV pricing to continue improving, potentially reaching close to $11,000 per day by the end of 2024, depending on work mix and regional margins [33][109] Question: Autonomous Forklift Market Growth - The company anticipates 10% growth in the autonomous forklift market in 2024, with orders for 205 forklifts in 2023, a 266% increase over 2022 [8][37] Question: Manufactured Products Backlog and Margins - The company expects manufactured products revenue to remain flat in 2024, with margins improving in 2025 and 2026 as new strategies are implemented [110][95] Question: Shareholder Returns - Management is considering a share repurchase program in Q2 2024, pending board approval [26][40] Question: Manufactured Products Order Trends - The company expects manufactured products orders to remain at 2023 levels or slightly higher, with a focus on improving margins in the energy business [113][95]

Financial Performance - Net income for Q4 2023 was $44.5 million, or $0.43 per share, on revenue of $655 million, representing a 22% increase in revenue compared to Q4 2022[3][5]. - Revenue for Q4 2023 reached $654.6 million, a 22% increase from $536.2 million in Q4 2022[26]. - For the year ended December 31, 2023, total revenue reached $2,424,706 thousand, representing an increase from $2,066,084 thousand in 2022, which is a growth of approximately 17.3%[52]. - Net income for the year ended December 31, 2023, was $97.4 million, compared to $25.9 million in 2022, representing a significant increase[26]. - For the three months ended December 31, 2023, the net income was $44,529 thousand with a diluted EPS of $0.43, compared to a net income of $23,128 thousand and diluted EPS of $0.23 for the same period in 2022, representing an increase of 92% in net income year-over-year[35]. - The adjusted net income for the year ended December 31, 2023, was $81,949 thousand with a diluted EPS of $0.80, compared to $31,111 thousand and $0.31 diluted EPS for 2022, indicating a significant increase of 163% in adjusted net income[36]. EBITDA and Margins - Adjusted EBITDA for Q4 2023 was $75.1 million, slightly above the midpoint of the guidance range, with a consolidated adjusted EBITDA margin of approximately 11.5%[6][9]. - Adjusted EBITDA for the year ended December 31, 2023, was $289,046 thousand, compared to $232,638 thousand for the previous year, reflecting a year-over-year growth of 24%[39]. - The EBITDA margin for the three months ended December 31, 2023, was 12%, compared to 11% for the same period in 2022, showing a slight improvement in profitability[39]. - The EBITDA margin for 2023 was 12%, consistent with the previous year, demonstrating stable operational efficiency[52]. - The adjusted EBITDA margin remained stable at 12% for both 2023 and 2022, reflecting consistent operational performance[52]. Cash Flow and Capital Expenditures - Free cash flow for 2023 increased to $109 million, compared to $39.8 million in 2022, contributing to a reduction in long-term debt from $700 million at the end of 2022 to $500 million at the end of 2023[8][6]. - Capital expenditures for 2023 were $101 million, up from $81 million in 2022, with expectations for 2024 capital expenditures to be between $110 million and $130 million[8][12]. - The projected free cash flow for the year ending December 31, 2024, is estimated to be between $110,000 thousand and $150,000 thousand, reflecting continued strong cash flow generation[46]. Segment Performance - Subsea Robotics segment revenue increased to $199.5 million, a 19% rise from $167.4 million in Q4 2022[28]. - The revenue from the SSR segment was $752,521 thousand in 2023, showing a strong performance compared to $621,921 thousand in 2022, an increase of approximately 20.9%[52]. - The IMDS segment revenue was $546,366 thousand in 2023, up from $489,317 thousand in 2022, indicating a growth of about 11.7%[52]. - The MP segment's revenue for Q4 2023 was $132.994 million, up from $100.174 million in Q4 2022, marking a growth of approximately 32.8%[48]. Operational Metrics - The company reported a book-to-bill ratio of 1.31 for the full year of 2023, indicating strong demand relative to revenue[11]. - The average revenue per day on hire for Remotely Operated Vehicles (ROV) was $9,618 in Q4 2023, a 3% increase from Q3 2023, with a fleet count of 250 and utilization at 68%[6][10]. - Operating income margin for the total company was 7% for Q4 2023, compared to 5% in Q4 2022[28]. - Operating income margin for the Offshore Projects Group (OPG) declined to 9% in Q4 2023, primarily due to changes in project mix and pricing[12][13]. - ROV utilization in the Subsea Robotics segment was 68% for Q4 2023, up from 62% in Q4 2022[28]. Expenses and Adjustments - Unallocated expenses for Q4 2023 were $37.9 million, lower than in the previous quarter, reflecting improved cost management[15]. - The total unallocated expenses for Q4 2023 were $37.949 million, compared to $33.575 million in Q4 2022, indicating an increase in overhead costs[48]. - The company experienced foreign currency losses of $2.275 million in Q4 2023, which impacted the overall adjusted EBITDA[48]. - The company experienced foreign currency losses of $1,359 thousand in 2023, compared to minimal losses in 2022, which may impact future earnings[52].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 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 ...

Oceaneering International, Inc. (NYSE:OII) Q3 2023 Earnings Conference Call October 26, 2023 11:00 AM ET Company Participants Mark Peterson - Vice President of Development and Investor Relations Rod Larson - President and Chief Executive Officer Alan Curtis - Senior Vice President and Chief Financial Officer Conference Call Participants Kurt Hallead - Benchmark David Smith - Pickering Energy Partners Operator My name is Julie, and I will be your conference operator. Welcome, everyone, to Oceaneering's Third ...

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, 2023 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 ...

Oceaneering International, Inc. (NYSE:OII) Q2 2023 Results Conference Call July 27, 2023 12:00 PM ET Company Participants Mark Peterson - Vice President of Development and Investor Relations Rod Larson - President and Chief Executive Officer Alan Curtis - Senior Vice President and Chief Financial Officer Conference Call Participants Eddie Kim - Barclays Kurt Hallead - Benchmark David Smith - Pickering Energy Partners Operator My name is Brian, and I will be your conference operator. Welcome, everyone, to Oc ...

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, 2023 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) De ...

Oceaneering International, Inc. (NYSE:OII) Q1 2023 Earnings Conference Call April 27, 2023 11:00 AM ET Company Participants Mark Peterson - Vice President of Development and Investor Relations Roderick Larson - President and Chief Executive Officer Conference Call Participants Operator Good morning, ladies and gentlemen. My name is Michelle, and I will be your conference operator today. Welcome to Oceaneering's First Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any ba ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the fiscal year ended December 31, 2022 5875 North Sam Houston Parkway, Suite 400 Houston, Texas 77086 (Address of principal executive offices) (Zip Code) OR Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ 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 ________________________ ...