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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 (NYSE: OII) will report its third quarter 2021 financial results on October 27, 2021, after market close. Investors can access the earnings release via Oceaneering's website. A conference call is scheduled for October 28, 2021, at 10:00 a.m. CT, allowing interested parties to listen through a webcast. Oceaneering specializes in engineered services and products for the offshore energy industry and also caters to the defense, aerospace, and entertainment sectors.
Oceaneering International (NYSE:OII) announced that President and CEO Roderick A. Larson will participate in a virtual fireside chat during the Barclays CEO Energy-Power Conference on September 9, 2021. The conference will also facilitate meetings with institutional investors. Interested parties can access the conference handout on Oceaneering's Investor Relations page. Oceaneering provides engineered services primarily to the offshore energy sector and has expertise in defense, aerospace, and entertainment industries.
Oceaneering International (NYSE: OII) reported a net income of $6.2 million ($0.06 per share) on revenue of $498 million for Q2 2021, up from a net loss of $9.4 million in Q1. Adjusted EBITDA reached $60.6 million, exceeding estimates, driven by increased demand in energy services and a growing backlog. The cash position improved to $456 million, and the company raised its adjusted EBITDA guidance to $200-$225 million for 2021. However, the Offshore Projects Group faced declining operating income margins due to unplanned downtime despite revenue increases. Overall, positive client interactions and favorable oil prices support financial outlook.
Oceaneering International (NYSE: OII) will announce its financial results for Q2 2021 on July 28, 2021, after market close. A conference call is scheduled for July 29, 2021, at 10:00 a.m. Central Time, with a replay available post call. Oceaneering specializes in engineered services and products, primarily for the offshore energy sector, while also serving defense, aerospace, and entertainment industries. Financial results will be accessible on their website.
Oceaneering International (NYSE: OII) will participate in a virtual fireside chat on June 23, 2021, as part of the J.P. Morgan Energy, Power & Renewables Conference. President and CEO Roderick A. Larson will discuss the company's business outlook and meet with institutional investors. Oceaneering is known for its engineered services and products primarily for the offshore energy sector, but also serves defense, aerospace, and entertainment industries. Additional information is available on their website.
Oceaneering International will have President and CEO Roderick A. Larson participate in a virtual session at the RBC Capital Markets Global Energy, Power & Infrastructure Conference on June 8, 2021. The event aims to discuss the company's business outlook and will include meetings with institutional investors. For further details, the conference handout is accessible on Oceaneering's Investor Relations page. Oceaneering provides engineered services and products mainly to the offshore energy sector, leveraging its technology expertise across multiple industries.
Oceaneering International (NYSE:OII) announced that its President and CEO, Roderick A. Larson, will engage with institutional investors at the CITI 2021 Global Energy & Utilities Virtual Conference on May 11, 2021. The conference handout will be accessible on the Investor Relations page of Oceaneering's website after market close on May 10, 2021. Oceaneering is a global provider of engineered services and products mainly for the offshore energy sector, and also supports the defense, aerospace, and entertainment industries.
Oceaneering International (OII) reported a net loss of $9.4 million, or $(0.09) per share, on revenue of $438 million for Q1 2021, an improvement from a $25 million loss in Q4 2020. Adjusted net income for the quarter stood at $2.8 million, influenced by $3.2 million in restructuring and foreign exchange losses. Consolidated adjusted EBITDA reached $52.8 million, surpassing guidance. ROV fleet utilization was steady at 53%, with a slight increase in average revenue per day to $7,874. The company narrowed its full-year adjusted EBITDA guidance to $180-$210 million.
Oceaneering International (OII) announced significant contract wins in its Manufactured Products segment, expecting over $135 million in revenue from international oil and gas operators and marine construction companies. Contract values range from under $10 million to over $90 million. The contracts involve manufacturing subsea production umbilicals and hardware at facilities in Panama City, Florida, Brazil, and Scotland, with production schedules spanning several months to five years. This uptick in orders reflects strong customer confidence in Oceaneering's capabilities.
Oceaneering International (NYSE: OII) is set to report its first quarter of 2021 financial results on April 28, 2021, after market close. This earnings release will be accessible on Oceaneering's official website. A conference call and webcast will follow on April 29, 2021, at 10:00 a.m. Central Time, allowing interested parties to engage through a link provided in the Investor Relations section. Oceaneering specializes in engineered services and products for the offshore energy sector, as well as defense, aerospace, and entertainment industries.
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