Oceaneering Q1 net income $15.1M; adj. EPS $0.14; FY guidance reaffirmed

OCEANEERING INTERNATIONAL INC

2024-Q1 EPS reported $0.15 revenue$599,092,000

Revenue $599M, up 12% YoY; operating income $36.7M, up 37% YoY.
Adjusted EBITDA $61.7M beat guidance; free cash flow -$95.2M, cash $355M.
Subsea Robotics operating income $44.2M, up 31% YoY; ROV utilization 64% at $10,009/day.
Manufactured Products backlog $597M, up $151M YoY; book-to-bill 1.30 trailing 12 months.
Q2 2024 EBITDA guided $80-90M; FY net income $125-155M, EBITDA $330-380M unchanged.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

OCEANEERING INTERNATIONAL INC reported Full-year 2024 results: net income $125 million to $155 million. Guidance reaffirmed.

Period: Full-year 2024
Net income: $125 million to $155 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Confirmed prior guidance for 2024: • Net income is expected in the range of $125 million to $155 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

OCEANEERING INTERNATIONAL INC reported first quarter ended March 31, 2024 results: revenue $599 million, net income $15.1 million, EPS $0.15 per share.

Period: first quarter ended March 31, 2024
Revenue: $599 million
Net income: $15.1 million
EPS: $0.15 per share
Result: reported results

Exact text from the filing

Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) today reported net income of $15.1 million, or $0.15 per share, on revenue of $599 million for the three months ended March 31, 2024.

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Source: SEC EDGAR

accession 0000073756-24-000074

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