Oceaneering International Inc. - OII STOCK NEWS

Oceaneering International (NYSE: OII) has acquired Global Design Innovation (GDi), a UK-based digital and software services provider. GDi, the only UKAS-certified provider for remote visual inspection using point cloud data and photographic images, brings advanced algorithms and data solutions. The acquisition strengthens Oceaneering's digital capabilities and asset management optimization for clients in oil and gas, utilities, and power generation industries. GDi will maintain its brand identity, with its financial results to be reported through Oceaneering's Integrity Management and Digital Solutions segment.

Oceaneering International (NYSE:OII) reported Q3 2024 net income of $41.2 million, or $0.40 per share, on revenue of $680 million. Adjusted net income was $37.2 million. The company achieved consolidated operating income of $71.3 million and adjusted EBITDA of $98.1 million. Operating cash flow was $91.9 million with free cash flow of $67.0 million.

The company updated its 2024 guidance with consolidated adjusted EBITDA expected between $340-350 million, and provided initial 2025 guidance of $400-430 million EBITDA. Notable improvements were seen in Subsea Robotics and Manufactured Products segments, with ROV fleet utilization at 69% and a backlog of $671 million.

Oceaneering International, Inc. (NYSE:OII) has announced that it will release its third quarter 2024 financial results on Wednesday, October 23, 2024, after the New York Stock Exchange closes. The company will also host a conference call and webcast on Thursday, October 24, 2024, at 10:00 a.m. Central Time to discuss the results.

Interested parties can access the webcast link in the Investor Relations section of Oceaneering's website. A replay of the call will be available approximately two hours after it concludes. Oceaneering is a global technology company providing engineered services, products, and robotic solutions to various industries including offshore energy, defense, aerospace, manufacturing, and entertainment.

Oceaneering International (NYSE:OII) announced its participation in the Barclays CEO Energy-Power Conference on September 4, 2024. President and CEO Roderick A. Larson will engage in a fireside chat and, along with other management members, host meetings with institutional investors. The conference handout is available on Oceaneering's website.

Oceaneering is a global technology company providing engineered services, products, and robotic solutions to various industries including offshore energy, defense, aerospace, manufacturing, and entertainment. This event offers an opportunity for Oceaneering to showcase its capabilities and engage with potential investors.

Oceaneering International (NYSE:OII) reported Q2 2024 results with net income of $35.0 million ($0.34 per share) on revenue of $669 million. Adjusted net income was $28.6 million ($0.28 per share). Key highlights include:

- Consolidated adjusted EBITDA: $85.9 million
- Operating income: $60.4 million
- Cash flow from operations: $52.6 million
- Free cash flow: $29.8 million
- Ending cash position: $383 million

The company narrowed its 2024 consolidated adjusted EBITDA guidance to $340-$370 million and expects free cash flow of $110-$150 million. Subsea Robotics (SSR) and Manufactured Products segments showed improved performance, while Aerospace and Defense Technologies (ADTech) faced challenges.

Oceaneering's Offshore Projects Group has secured multiple contracts with global energy companies for vessel services in the Gulf of Mexico.

The work will involve both basic and heavy inspection, maintenance, and repair (IMR) services, including advanced technologies like photogrammetry and subsea visual metrology.

The contracts cover initial commitments of 60 and 120 days, with potential for extension.

These agreements are expected to improve fleet utilization and reinforce Oceaneering's position in the market.

Oceaneering International (NYSE: OII) has announced the release of its second quarter 2024 financial results, scheduled for Wednesday, July 24, 2024, after market close. These results will be available on their official website. Additionally, a conference call and webcast will take place on Thursday, July 25, 2024, at 10:00 a.m. Central Time, accessible via the Investor Relations section of their website. A replay of the call will be available approximately two hours post-conclusion. Oceaneering is a global technology company providing engineered services, products, and robotic solutions across various industries, including offshore energy, defense, aerospace, manufacturing, and entertainment.

Oceaneering International (NYSE:OII) has secured a $50 million contract with a domestic energy company for an electro-hydraulic, steel tube dynamic umbilical system. The project, located in the Gulf of Mexico, will involve manufacturing a 27-kilometer umbilical at Oceaneering's Panama City, Florida facility. Production is set to begin in 2025, with a final delivery in the second quarter of 2026. Senior VP Shaun R. Roedel highlighted customer confidence in Oceaneering's timely and safe delivery of manufactured products.

Oceaneering International announced that its President and CEO, Roderick A. Larson, will present at the J.P. Morgan Energy, Power & Renewables Conference in New York on June 18, 2024. Larson, along with CFO Alan R. Curtis, will also engage with institutional investors. The company's Q1 2024 Investor Presentation is available on their website. Oceaneering is known for providing advanced engineered services and robotic solutions in various sectors, including offshore energy, defense, aerospace, manufacturing, and entertainment.