Oceaneering Q4 net income $23.1M; guides 2023 EBITDA $260-310M

OCEANEERING INTERNATIONAL INC

2022-FY EPS reported $0.26 revenue$2,066,084,000

Q4 2022 net income $23.1M ($0.23 EPS) on revenue $536M; adjusted net income $6.4M ($0.06 EPS).
Full-year 2022 adjusted EBITDA $233M above guidance midpoint; revenue $2.07B (+11% YoY).
2023 guidance: net income $75-90M, adjusted EBITDA $260-310M, free cash flow $75-125M, capex $90-110M.
Q4 free cash flow $134M; cash $569M; consolidated backlog $1.95B; ROV utilization 62% at $8,967/day.
CEO cites fourth consecutive year of improved adjusted EBITDA; expects >10% revenue growth in 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

OCEANEERING INTERNATIONAL INC reported year ending December 31, 2023 results: net income $75 million to $90 million. Guidance initiated.

Period: year ending December 31, 2023
Net income: $75 million to $90 million
Guidance: initiated
Result: guidance update

Exact text from the filing

Guidance for 2023: • Net income is expected in the range of $75 million to $90 million and consolidated adjusted EBITDA is expected in the range of $260 million to $310 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OCEANEERING INTERNATIONAL INC reported three months ended December 31, 2022 results: revenue $536 million, net income $23.1 million, EPS $0.23.

Period: three months ended December 31, 2022
Revenue: $536 million
Net income: $23.1 million
EPS: $0.23
Result: reported results

Exact text from the filing

OCEANEERING International, Inc. ("Oceaneering") (NYSE:OII) today reported net income of $23.1 million, or $0.23 per share, on revenue of $536 million for the three months ended December 31, 2022.

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Source: SEC EDGAR

accession 0000073756-23-000007

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