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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.
Oceaneering International (OII) reported a net income of $3.7 million ($0.04/share) for Q2 2022, up from a net loss of $19.2 million in Q1 2022. Revenue increased to $524 million, reflecting a recovery in offshore activity, particularly in Subsea Robotics and Offshore Projects, which achieved their highest operating income since 2018. Adjusted EBITDA was $53.5 million, with a forecast of $210-$240 million for the full year. However, cash flow decreased by $69.6 million due to extended payment terms. Guidance for free cash flow was revised to $25-$75 million.
Oceaneering International, Inc. (NYSE:OII) will report its financial results for Q2 2022 on July 27, 2022, after market close. Investors can access the earnings release on Oceaneering’s website. A conference call discussing the results is scheduled for July 28, 2022, at 10:00 a.m. Central Time. This event can also be accessed through a webcast link on the company’s Investor Relations page. Oceaneering specializes in engineered services and robotic solutions across multiple industries.
Oceaneering International, Inc. (NYSE:OII) announced that President and CEO Roderick A. Larson will present at the J.P. Morgan Energy, Power & Renewables Conference in New York on June 22, 2022. Alongside Mr. Larson, additional management members will also hold meetings with institutional investors.
The conference handout will be accessible in the Investor Relations section on www.oceaneering.com. Oceaneering provides engineered services and robotic solutions across various industries including offshore energy and defense.
Oceaneering International (NYSE:OII) announces its role in a team led by Collins Aerospace, selected by NASA to develop new extravehicular spacesuits under a contract valued up to $3.5 billion over 12 years. The next-generation suits are designed for missions from 2025 to 2034, enhancing astronaut mobility and comfort for lunar and Mars exploration. Oceaneering will leverage its 40 years of experience with NASA to deliver advanced spacesuit systems.
Oceaneering International reported a net loss of $19.2 million, or $(0.19) per share, on revenue of $446 million for Q1 2022. Adjusted net loss was $6.4 million, influenced by foreign exchange gains and tax adjustments. Compared to Q4 2021, revenue slightly decreased from $467 million, and gross margin dropped to $45.5 million. The company confirmed its 2022 EBITDA guidance of $225 million to $275 million, projecting improved operating results and free cash flow between $75 million to $125 million. Oceaneering also established a new $215 million credit facility to enhance financial flexibility.
Oceaneering International, Inc. (NYSE:OII) will report its first quarter 2022 financial results on April 27, 2022, after market close. The earnings release will be accessible on the company’s website. A conference call is scheduled for April 28, 2022, at 10:00 a.m. Central Time, allowing stakeholders to discuss the results. Oceaneering offers engineered services and products as well as robotic solutions across various industries, including offshore energy and defense.
Oceaneering International, Inc. (NYSE:OII) will participate in the Piper Sandler Energy Conference on March 22, 2022. The meeting will feature Vice President of Corporate Development and Investor Relations, Mark Peterson, and Vice President and Chief Accounting Officer, Witland LeBlanc, engaging with institutional investors. A conference handout will be available on Oceaneering's Investor Relations page after market close on March 21, 2022. Oceaneering provides technology solutions across various industries, including offshore energy and aerospace.
Oceaneering International, Inc. (NYSE:OII) announced that CFO Alan R. Curtis and Senior VP Benjamin Laura will attend the Scotia Howard Weil Energy Conference on March 22, 2022. The conference handout will be accessible on the company’s Investor Relations page after market close on March 21, 2022. Oceaneering is recognized for providing engineered services, products, and robotic solutions across various sectors, including offshore energy and defense. For more details, visit www.oceaneering.com.
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