Oceaneering's Q4 Earnings Miss Estimates, Revenues Beat

Core Insights - Oceaneering International, Inc. (OII) reported an adjusted profit of 37 cents per share for Q4 2024, missing the Zacks Consensus Estimate of 45 cents due to lower-than-expected operating income from several segments [1] - Total revenues reached $713 million, exceeding the Zacks Consensus Estimate of$682 million and representing an 8.9% increase from $655 million in the same quarter last year [2] Financial Performance - The company achieved a net income of$56.1 million, reflecting a 26% year-over-year growth, and reported an operating income of $77.9 million, a 64$102 million, marking a 35% increase from the prior year, with cash flow from operating activities at $128 million and free cash flow at$94.5 million [4] Segment Performance - Subsea Robotics segment revenues totaled $212.2 million, up from$199.5 million year-over-year, but missed the estimate of $214.1 million; operating income increased to$63.5 million from $50.6 million [5][6] - Manufactured Products segment revenues rose to$143 million from $133 million, but fell short of the estimate of$149 million; operating profit decreased to $4.2 million from$5.4 million [6][7] - Offshore Projects Group revenues increased by 14.4% to $184.4 million, surpassing the estimate of$149.1 million, with operating income rising to $39.3 million from$15.2 million [8][9] - Integrity Management & Digital Solutions segment revenues grew to $75.1 million from$66 million, exceeding the estimate of $72.6 million, while operating income fell to$2 million from $3.2 million [9][10] - Aerospace and Defense Technologies segment revenues increased to$98.8 million from $94.9 million, beating the estimate of$97 million, but operating income dropped to $9.9 million from$11 million [10][11] Capital Expenditure and Balance Sheet - Capital expenditure for Q4 totaled $61 million, with cash and cash equivalents at$497.5 million and long-term debt at approximately $482 million, resulting in a debt-to-total capital ratio of 40.1$160 million and $190 million, with consolidated EBITDA expected between$380 million and $430 million, and free cash flow anticipated between$110 million and $130 million [16] - The company aims for strong growth throughout 2025, focusing on revenue and operating income increases across all segments and integrating a recently acquired digital services provider [17]