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Oceaneering International Inc. reports developments in engineered services, products, and robotic solutions for the offshore energy, defense, aerospace, and manufacturing markets. News about OII commonly centers on quarterly results, segment guidance, customer orders, contract awards, backlog, and operating trends across Subsea Robotics, Integrity Management and Digital Solutions, Manufactured Products, Offshore Projects Group, and Aerospace and Defense Technologies.
Company updates also cover remotely operated vehicle activity, vessel-based services, underwater survey and tooling work, autonomous systems such as the Freedom platform, and dual-use technology serving energy and defense applications. Governance and investor-relations announcements include earnings calls, investor-conference participation, board changes, and finance leadership transitions.
Oceaneering (NYSE: OII) reported second quarter 2026 revenue of $768 million, up 10% year over year, with operating income of $88.2 million (up 11%) and net income attributable to Oceaneering of $65.0 million (up 19%, diluted EPS $0.65). Adjusted EBITDA rose 11% to $115 million, above the top end of guidance, according to Oceaneering.
Free cash flow was $32.0 million and quarter-end cash reached $629 million; the company repurchased about 263,000 shares for $10 million. All segments grew revenue and operating income except Integrity Management and Digital Solutions (IMDS). Oceaneering updated its 2026 consolidated adjusted EBITDA guidance to $400–$440 million.
The company initiated refinancing of its 2028 senior notes, issuing $500 million of 6.875% senior notes due 2034, completing a tender offer for the 2028 notes, and amending its revolving credit facility, increasing commitments to $345 million and extending maturity to July 2031.
Oceaneering (NYSE:OII) and KONGSBERG have been selected by the U.S. Department of War’s Defense Innovation Unit (DIU) to support the Combat Autonomous Maritime Platform (CAMP) program, which focuses on developing an Extra-Large Uncrewed Undersea Vehicle (XLUUV) for future U.S. Navy missions.
The team will work on concept definition, system architecture, and design trade studies, with emphasis on modularity, interoperability, and rapid integration. According to Oceaneering, the XLUUV design is expected to be delivered in the third quarter of 2026, subject to typical risks and uncertainties outlined in its SEC filings.
Oceaneering (NYSE:OII) amended its senior secured revolving credit facility, increasing total commitments from $215 million to $345 million and extending the maturity to July 2031 from April 2027.
The facility allows an additional $85 million upsizing and includes $150 million in letter of credit availability, supporting operations and growth initiatives.
Oceaneering (NYSE:OII) announced the expiration and results of its cash tender offer for any and all of its 6.000% Senior Notes due 2028. Holders tendered $399.774 million of the $500 million outstanding, representing 79.95% of principal, plus $2.888 million subject to guaranteed delivery.
Subject to closing a $500 million private offering of 6.875% Senior Notes due 2034 on July 6, 2026, the company expects to purchase all tendered notes on that date and has issued a conditional notice to redeem any remaining 2028 notes on or around July 25, 2026.
Oceaneering (NYSE:OII) set pricing terms for its cash tender offer to purchase any and all of its outstanding 6.000% Senior Notes due 2028.
The offer covers $500 million principal at $1,018.46 per $1,000 plus accrued interest, expires June 30, 2026, and is expected to settle July 6, 2026. Remaining notes are targeted for full redemption around July 25, 2026.
Oceaneering (NYSE:OII) priced a private offering of $500 million aggregate principal amount of 6.875% Senior Notes due 2034 at par, with maturity on July 15, 2034. Closing is expected July 6, 2026, subject to customary conditions.
According to Oceaneering, net proceeds, with cash on hand if needed, will fund a concurrent cash tender offer for its 6.000% Senior Notes due 2028. Any remaining proceeds will support general corporate purposes, including potential repayment, redemption, or repurchase of other debt.
Oceaneering (NYSE: OII) launched a cash tender offer to purchase any and all of its outstanding 6.000% Senior Notes due 2028, with $500 million aggregate principal amount outstanding.
The Purchase Price per $1,000 will be set June 30, 2026 using a 40 bps fixed spread over the 3.50% UST due October 31, 2027. The offer expires at 5:00 p.m. New York City time on June 30, 2026, with settlement expected July 6, 2026. The offer is conditional on completion of one or more debt financings and has no minimum tender condition. Holders will receive accrued and unpaid interest to, but excluding, the Settlement Date.
Oceaneering (NYSE: OII) plans a private offering of $500 million Senior Notes due 2034. The company expects to use net proceeds, with cash on hand if needed, to fund a cash tender offer for its 6.000% Senior Notes due 2028 and for general corporate purposes.
Oceaneering International (NYSE:OII) will release its second quarter 2026 earnings on Wednesday, July 22, 2026, after the NYSE close.
A conference call and webcast to discuss results is scheduled for Thursday, July 23, 2026, at 10:00 a.m. CT (11:00 a.m. ET), accessible via the company’s investor relations website.
Oceaneering (NYSE:OII) announced that President and CEO Rod Larson will join a fireside chat at the J.P. Morgan Natural Resources Conference in New York on June 23, 2026. Larson and Senior Director of Investor Relations Hilary Frisbie will also meet with institutional investors, and the latest investor presentation is available on Oceaneering’s website.