Oceaneering International(OII)

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Oceaneering International(OII) - 2021 Q2 - Quarterly Report
2021-07-30 20:16
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, 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) Delaware 95-2628227 (State or other jurisdiction ...
Oceaneering International(OII) - 2021 Q2 - Earnings Call Transcript
2021-07-29 22:47
Oceaneering International, Inc. (NYSE:OII) Q2 2021 Earnings Conference Call July 29, 2021 11:00 AM ET Company Participants Mark Peterson - Vice President, Corporate Development & Investor Relations Rod Larson - President & Chief Executive Officer Alan Curtis - Senior Vice President & Chief Financial Officer Conference Call Participants Ian Macpherson - Simmons Mike Sabella - Bank of America Taylor Zurcher - Pickering and Holt Operator Good morning. My name is Julie and I will be your conference operator. I ...
Oceaneering International(OII) - 2021 Q1 - Earnings Call Presentation
2021-05-14 16:46
| --- | --- | --- | --- | |---------------|-------|-------|-------| | | | | | | ® 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 ...
Oceaneering International(OII) - 2021 Q1 - Quarterly Report
2021-04-30 20:39
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(OII) - 2021 Q1 - Earnings Call Transcript
2021-04-30 11:03
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 ...
Oceaneering International(OII) - 2020 Q4 - Annual Report
2021-02-26 22:26
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 ...
Oceaneering International(OII) - 2020 Q4 - Earnings Call Transcript
2021-02-25 19:38
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]
Oceaneering International (OII) Investor Presentation - Slideshow
2021-01-07 16:12
| --- | --- | --- | --- | --- | --- | |-----------------------|-------|-------|-------|-------|-------| | | | | | | | | 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 ...
Oceaneering International(OII) - 2020 Q3 - Quarterly Report
2020-11-02 21:30
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(OII) - 2020 Q3 - Earnings Call Transcript
2020-10-30 01:48
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 ...