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Oceaneering International Inc. - OII STOCK NEWS

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Oceaneering International Inc. (OII) is a global leader in providing engineered services and products primarily to the offshore energy, defense, aerospace, manufacturing, and entertainment industries. The company excels in delivering innovative solutions that push the frontiers of deep water, space, and motion entertainment environments. As the world’s largest ROV (Remotely Operated Vehicle) operator, Oceaneering operates over 300 systems globally, solidifying its position as the leading ROV provider to the oil and gas industry.

Oceaneering's extensive portfolio, combined with its vast experience, makes it a trusted subsea connection specialist. The company is dedicated to solving complex subsea challenges by integrating products, services, and innovative solutions that enhance operational reliability, safety, and cost efficiency. Its recent 2020 segment realignment aimed at promoting synergies and cost-efficiency has resulted in five key segments:

  • Subsea Robotics: Specializes in the deployment and maintenance of ROVs and other robotic solutions.
  • Manufactured Products: Focuses on creating specialized products for the offshore oil and gas market.
  • Offshore Projects Group: Provides comprehensive project management and execution services.
  • Integrity Management and Digital Solutions: Offers solutions for managing the integrity and performance of operational systems.
  • Aerospace and Defense Technologies: Develops and supplies advanced technologies for the aerospace and defense sectors.

The firm is also expanding its footprint in the offshore renewables and mobility solutions industries, showcasing its adaptability and commitment to technological advancements. By maintaining a safety-focused and innovative approach, Oceaneering ensures that it can quickly and effectively respond to any subsea challenges, providing swift and efficient solutions.

Oceaneering's financial health is supported by a robust portfolio and strategic partnerships, enabling the company to de-risk operational systems and lower the total cost of ownership for its clients. As a result, Oceaneering continues to play a significant role in the global market, driving the future of subsea technologies and services.

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Oceaneering International (NYSE:OII) has announced its participation in two major investor conferences. President and CEO Rod Larson will meet investors at the Bank of America Global Energy Conference in Houston on November 12, 2024. Additionally, CFO Alan Curtis will present at the Baird Global Industrial Conference in Chicago on November 13, 2024, accompanied by Senior Director of Investor Relations, Hilary Frisbie. The company's third quarter presentation will be available on their website after market close on November 6, 2024.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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FAQ

What is the current stock price of Oceaneering International (OII)?

The current stock price of Oceaneering International (OII) is $27.46 as of November 18, 2024.

What is the market cap of Oceaneering International (OII)?

The market cap of Oceaneering International (OII) is approximately 2.8B.

What industries does Oceaneering International Inc. serve?

Oceaneering serves the offshore energy, defense, aerospace, manufacturing, and entertainment industries.

What are the main segments of Oceaneering?

The main segments are subsea robotics, manufactured products, offshore projects group, integrity management and digital solutions, and aerospace and defense technologies.

How many ROV systems does Oceaneering operate?

Oceaneering operates over 300 ROV systems worldwide.

What is the role of Oceaneering in the oil and gas industry?

Oceaneering is the leading ROV provider to the oil and gas industry, offering specialized products and services for offshore operations.

Has Oceaneering realigned its segments recently?

Yes, Oceaneering underwent a segment realignment in 2020 to promote synergies and cost efficiency.

What is Oceaneering's approach to safety and innovation?

Oceaneering maintains a safety-focused and innovative approach, ensuring quick and effective responses to subsea challenges.

Is Oceaneering involved in the renewables industry?

Yes, Oceaneering is expanding its involvement in the offshore renewables industry.

What makes Oceaneering a trusted subsea connection specialist?

Oceaneering's vast experience and diverse portfolio of technologies allow it to engineer solutions for complex subsea challenges.

What are Oceaneering's primary business areas?

Oceaneering's primary business areas are services and products provided mainly to the oil and gas industry.

How does Oceaneering contribute to cost efficiency for its clients?

Oceaneering integrates products, services, and innovative solutions to de-risk operational systems, increase reliability, and enable lower total cost of ownership.

Oceaneering International Inc.

NYSE:OII

OII Rankings

OII Stock Data

2.80B
101.06M
1.69%
101.68%
4.44%
Oil & Gas Equipment & Services
Oil & Gas Field Services, Nec
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United States of America
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