Oceaneering Q1 net income $4.1M, revenue $537M; affirms FY 2023 guidance

OCEANEERING INTERNATIONAL INC

2023-Q1 EPS reported $0.04 revenue$536,987,000

Net income $4.1M ($0.04 diluted EPS); adjusted EPS $0.05; revenue $537M, up 20% YoY.
Consolidated adjusted EBITDA $55M; Q2 EBITDA guided $75-85M.
Affirms FY 2023 guidance: net income $75-90M, adjusted EBITDA $260-310M, FCF $75-125M.
ROV utilization 63%, avg revenue per day $9,176; Manufactured Products backlog $446M.
Cash decreased $64M to $505M; expects positive FCF in H2 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OCEANEERING INTERNATIONAL INC reported first quarter ended March 31, 2023 results: revenue $537 million, net income $4.1 million, EPS $0.04.

Period: first quarter ended March 31, 2023
Revenue: $537 million
Net income: $4.1 million
EPS: $0.04
Result: reported results

Exact text from the filing

Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) today reported net income of $4.1 million, or $0.04 per share, on revenue of $537 million for the three months ended March 31, 2023.

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Source: SEC EDGAR

accession 0000073756-23-000070

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