Oceaneering Q1 net income down 28% to $36.1M; adj. EBITDA within guidance

OCEANEERING INTERNATIONAL INC

2026-Q1 EPS reported $0.36 revenue$692,429,000

Revenue $692M (+3% YoY); operating income $57.8M (-21%); net income $36.1M (-28%).
Adjusted EBITDA $83.7M (-13%); free cash flow $(76.5)M; cash at period-end $607M.
SSR ROV utilization fell to 61% from 67% YoY; revenue per day utilized rose to $12,401.
ADTech revenue +35% to $131M but operating income fell 24% on contract dispute accrual.
FY 2026 EBITDA guidance reaffirmed at $390M–$440M; Q2 EBITDA guided $100M–$110M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OCEANEERING INTERNATIONAL INC reported first quarter 2026 results: revenue $692 million, net income $36.1 million. Guidance reaffirmed.

Period: first quarter 2026
Revenue: $692 million
Net income: $36.1 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

International, Inc. ("Oceaneering") (NYSE:OII) today reported first quarter 2026 results . First Quarter 2026 Results • As compared to the first quarter of 2025: ◦ Revenue was $692 million, an increase of 3%. ◦ Operating income was $57.8 million, a decrease of 21%. ◦ Net income was $36.1 million, a decrease of 28%. ◦ Adjusted EBITDA was $83.7 million, a decrease of

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Source: SEC EDGAR

accession 0000073756-26-000080

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