Oceaneering Q2 revenue up 10% to $768M, adjusted EBITDA $115M beats guidance; FY outlook raised

OCEANEERING INTERNATIONAL INC

Net income $65.0M (+19% YoY); adjusted EBITDA $115M (+11% YoY), above top end of guidance.
Full-year 2026 adjusted EBITDA guidance raised to $400M-$440M; Q3 EBITDA guided $115M-$125M.
Issued $500M of 6.875% senior notes due 2034; amended credit facility to $345M, extended to July 2031.
Subsea Robotics revenue $232M; OPG revenue +22%; ADTech revenue +22%; IMDS revenue -6%.
Free cash flow $32M; quarter-end cash $629M; repurchased 263,335 shares for ~$10M.

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