Oceaneering Intl Stock Price, News & Analysis

Oceaneering (NYSE:OII) has secured a follow-on IDIQ contract from the Naval Surface Warfare Center Philadelphia Division to manufacture Virginia Class Submarine support equipment. The contract, commencing in June 2025, involves manufacturing work platforms for submarine sail and vertical payload tube maintenance.

The contract has a potential value of $33 million if all options are exercised over the five-year ordering period. This award was secured through Oceaneering's Aerospace and Defense Technologies (ADTech) segment following a competitive bidding process.

Oceaneering International (NYSE:OII) announced that President and CEO Roderick A. Larson will present at the upcoming J.P. Morgan Energy, Power, Renewables & Mining Conference in New York on June 24, 2025. The company's leadership team, including CFO Alan R. Curtis and Senior Director of Investor Relations Hilary Frisbie, will engage with institutional investors during the event. Oceaneering's First Quarter 2025 Investor Presentation is accessible on their website's Investor Relations page. The company specializes in providing engineered services, products, and robotic solutions to various industries including offshore energy, defense, aerospace, and manufacturing sectors.

Oceaneering International (NYSE:OII) has secured a vessel services agreement with a major operator for the MPSV Harvey Deep Sea vessel in the Gulf of Mexico. The vessel, chartered by Oceaneering through February 2027, is equipped with two Oceaneering Millennium work class remotely operated vehicles and will be used for subsea inspection, maintenance, repair (IMR), and installation services. OPG Senior VP Chris Dyer highlighted that this agreement secures vessel backlog and allows for equipment spread optimization while reducing scheduling uncertainty. The company aims to deliver critical subsea services focusing on safe, efficient, and high-quality project execution.

Oceaneering International (NYSE: OII) announced that CFO Alan R. Curtis will retire effective January 1, 2026, after serving in various roles since 1995, including as CFO since 2015. Michael W. Sumruld has been appointed as Senior Vice President of Finance starting September 1, 2025, and is expected to succeed Curtis as CFO. Sumruld previously served as SVP and CFO at Parker Drilling Company until its sale to Nabors Industries in March 2025. He brings extensive experience from roles at LyondellBasell Industries and Baker Hughes, and holds CPA certification with degrees from the University of Houston and Texas A&M. The company praised Curtis's leadership in delivering consistent shareholder returns and enhancing their portfolio, while expressing confidence in Sumruld's ability to drive continued growth.

Falcon's Beyond (NASDAQ: FBYD) has acquired Oceaneering Entertainment Systems (OES), a division of Oceaneering International (NYSE: OII), significantly strengthening its position in the themed entertainment industry. The acquisition includes OES's global portfolio of patented technologies, engineering processes, and a 106,000+ square-foot facility. OES, a 25-year veteran in theme park development, brings an impressive track record with 12 Thea Awards for attractions like Spider-Man and Transformers rides at Universal Orlando.

The strategic acquisition enhances Falcon's Attractions division as a vertically integrated provider of entertainment systems and is expected to be accretive to future earnings. The company has also hired key OES team members and secured an option to acquire certain OES inventory by July 23, 2025. Falcon's will maintain support for all legacy OES products, ensuring continuity with the same personnel and technology.

Oceaneering International (NYSE:OII) announced its participation in Citi's Spotlight on SMID Energy Day, scheduled for May 22, 2025, in New York. The company will be represented by Senior VP and CFO Alan R. Curtis and Senior Investor Relations Director Hilary Frisbie, who will engage with institutional investors. The company's first quarter 2025 Investor Presentation will be made available on their website after market close on May 19, 2025.

Oceaneering is a global technology company that provides engineered services, products, and robotic solutions to various sectors including offshore energy, defense, aerospace, and manufacturing industries.

Oceaneering International (NYSE:OII) has secured a multi-year contract from bp Mauritania Investments Limited for subsea inspection, maintenance, and repair (IMR) services in the Greater Tortue Ahmeyim field. The contract includes ROV services, with Oceaneering deploying a multi-purpose vessel equipped with two work class ROVs. The initial contract spans three years with two one-year extension options.

The scope encompasses project management, engineering, and integration services delivered by both local and international personnel. Engineering and pre-mobilization activities have begun, with field operations set to start in Q2 2025. The company's expertise in delivering subsea solutions in harsh environments was cited as a key factor in winning this contract.

Oceaneering International (NYSE:OII) reported strong Q1 2025 results with revenue reaching $675 million, up 13% year-over-year. The company's net income surged 233% to $50.4 million, while operating income doubled to $73.5 million.

Key highlights include adjusted EBITDA of $96.7 million (57% increase YoY) and share repurchases of 479,154 shares for approximately $10 million. The company maintained its full-year 2025 EBITDA guidance of $380-430 million.

Segment performance showed notable improvements, with Subsea Robotics operating income up 35% to $59.6 million and Offshore Projects Group seeing significant growth. ROV fleet utilization reached 67%. The company's Manufactured Products segment reported a backlog of $543 million, though results were impacted by a $10.4 million inventory reserve adjustment.

Oceaneering International (NYSE:OII) has scheduled its first quarter 2025 earnings release for Wednesday, April 23, 2025, after the NYSE trading closes. The company will host a conference call and webcast to discuss the results on Thursday, April 24, 2025, at 10:00 a.m. Central Time.

The earnings release will be accessible on Oceaneering's website, and a replay of the conference call will be available approximately two hours after the live call concludes. Oceaneering operates as a global technology company providing engineered services, products, and robotic solutions to the offshore energy, defense, aerospace, and manufacturing sectors.