secwatch.observer — SEC 8-K summary
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Issuer:     OCEANEERING INTERNATIONAL INC (OII)
CIK:        0000073756
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0000073756-23-000099
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Oceaneering Q2 net income $19M; raises 2023 adjusted EBITDA and FCF guidance
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- Q2 revenue $598M, up 14% YoY and 11% sequentially; operating income $49.2M, highest since 2015.
- GAAP EPS $0.19, adjusted EPS $0.18; adjusted EBITDA $74.8M.
- 2023 guidance: adjusted EBITDA narrowed to $275-310M; free cash flow raised to $90-130M.
- ROV fleet utilization 70% (vs 63% Q1); avg revenue per day on hire $9,077; backlog $418M.
- Q3 outlook: adj. EBITDA $75-85M on high-single-digit % revenue increase.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/73756/000007375623000099/0000073756-23-000099-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/73756/000007375623000099/oii-20230726.htm
  HTML page:      https://secwatch.observer/filing/0000073756-23-000099

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer