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 International (NYSE:OII) reported third-quarter 2026 revenue of $785 million, up 6% from the same period last year. Operating income rose 7% to $92.2 million, while net income attributable to Oceaneering fell 26% to $52.6 million. Diluted earnings per share declined to $0.52 from $0.71. Adjusted EBITDA, a non-GAAP earnings measure, increased 7% to $119 million.
Operating cash flow was $163 million and free cash flow was $142 million. Quarter-end cash totaled $735 million, versus $506 million a year earlier. Oceaneering issued $500 million of 6.875% senior notes due 2034 and extended its expanded $345 million revolving credit facility to July 2031.
The company expects fourth-quarter EBITDA of $85 million to $95 million and initiated 2027 EBITDA guidance of $430 million to $480 million. It expects 2027 free cash flow to exceed the level forecast for 2026 and share repurchases to continue.
Oceaneering International (OII) won a follow-on U.S. Navy Dry Deck Shelter services contract with a potential value of $154 million. The award covers maintenance, overhaul, engineering, and field change services through its Aerospace and Defense Technologies segment.
The five-year contract consists of one base year and four option years, so its full duration includes optional periods. The work supports the safe and reliable deployment of special operations forces and undersea vehicles. Oceaneering’s Marine Services Division has supported the Navy’s Dry Deck Shelter program since 2002.
Oceaneering (OII) will release its third-quarter 2026 financial results on October 21, 2026, after trading closes on the New York Stock Exchange.
The company will hold a conference call and webcast to discuss the results on October 22 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). The earnings release and a webcast link will be posted on its Investor Relations website.
Oceaneering (NYSE:OII) will participate in several investor conferences in the third quarter of 2026. Management will join the Barclays Energy-Power Conference in New York on September 9, the Gabelli Aerospace & Defense Symposium in New York on September 10, and the TD Cowen and PEP Energy Conferences in Austin on September 24 and 29, respectively.
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.