Welcome to our dedicated page for Oceaneering Intl news (Ticker: OII), a resource for investors and traders seeking the latest updates and insights on Oceaneering Intl stock.
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, Inc. (NYSE:OII) announced the retirement of T. Jay Collins as Chairman of the Board effective post the 2023 Annual Meeting of Shareholders. M. Kevin McEvoy, a director since 2011 and former CEO from 2011 to 2017, will succeed him. Collins, who has served on the Board since 2002, expressed confidence in McEvoy's leadership, highlighting his extensive experience in energy and defense sectors. Oceaneering's President and CEO, Roderick A. Larson, praised Collins for his nearly 30 years of impactful leadership, contributing to the company’s growth in technology-enabled services across diverse markets.
Oceaneering reported a net income of $23.1 million for Q4 2022, equating to $0.23 per share, on revenue of $536 million. Adjusted net income was $6.4 million due to $16.6 million in tax adjustments. In comparison, Q3 2022 net income was $18.3 million. The company achieved an adjusted EBITDA of $70 million and a cash position of $569 million. Oceaneering anticipates 2023 net income between $75 million to $90 million and an EBITDA range of $260 million to $310 million. The order intake is reported at $771 million, with a backlog totaling $1.947 billion.
Oceaneering International, Inc. (NYSE:OII) has secured contracts from a major international manufacturer for the delivery of 85 MaxMover™ CB D 2000 autonomous counterbalance forklifts across three facilities. Deliveries are scheduled between early 2023 and early 2024, including installation and 24/7 support services. The MaxMover™ can lift 2,000 kilograms (4,400 pounds) autonomously, designed for efficiency and safety in manufacturing and logistics. CEO Roderick A. Larson expressed confidence in the product's market reception since its 2022 launch, highlighting the company's robotics expertise and commitment to expanding strategic relationships.
Oceaneering International, Inc. (NYSE:OII) will release its financial results for Q4 2022 on February 23, 2023, after trading hours. A conference call is scheduled for February 24, 2023, at 10:00 a.m. Central Time to discuss these results. Interested listeners can access the call via a link in the Investor Relations section of Oceaneering’s website. The earnings release and details regarding the conference call will be available on oceaneering.com.
Oceaneering International, Inc. (NYSE:OII) announced that its CFO, Alan R. Curtis, and VP of Corporate Development, Mark Peterson, will engage with institutional investors at the Goldman Sachs Global Energy and Clean Technology Conference on January 5, 2023. The latest Investor Relations presentation is accessible on Oceaneering's website. The company is recognized for delivering engineered services, products, and robotic solutions across various sectors, including energy and defense.
Oceaneering International, Inc. (NYSE:OII) announced the appointment of Jennifer Simons as Senior Vice President, Chief Legal Officer, and Secretary effective January 1, 2023. Simons, previously with Parker Wellbore, brings extensive experience in legal, compliance, and operations. She succeeds David Lawrence, who is retiring after 18 years with the company but will assist during the transition. Oceaneering's CEO, Roderick A. Larson, expressed confidence in Simons' capabilities to enhance the executive leadership team.
Oceaneering International reported net income of $18.3 million and revenue of $560 million for Q3 2022, reflecting an increase from Q2's net income of $3.7 million. Adjusted EBITDA reached $77.6 million, exceeding forecasts. The company's ROV fleet utilization rose to 67% with an average revenue per day of $8,468. For 2023, Oceaneering expects EBITDA between $260 million and $310 million and projected positive free cash flow exceeding $100 million. Key operational improvements were noted in energy segments, particularly in the Gulf of Mexico.
Oceaneering International (NYSE:OII) announced multiple contracts won during Q3 2022, expected to generate approximately $300 million in revenue. These contracts involve remotely operated vehicle (ROV) services primarily for offshore drilling and subsea interventions. The contracts are with international energy operators, lasting from several months to five years, with potential extensions. CEO Rod Larson emphasized the strengthening offshore demand and Oceaneering's market leadership in subsea services, highlighting the company's commitment to enhancing safety, environmental sustainability, and cost efficiency.
Oceaneering International, Inc. (NYSE:OII) will announce its third quarter 2022 financial results on October 26, 2022, after market close. The results will be accessible on their website at www.oceaneering.com. A conference call to discuss these results is scheduled for October 27, 2022, at 10:00 a.m. CT, available via webcast. Oceaneering provides engineering services and robotic solutions across various industries, including offshore energy and defense.
Oceaneering International (NYSE:OII) announced the promotion of Christopher J. Dyer to Senior Vice President, Offshore Projects Group, and Leonardo P. Granato to Senior Vice President, Integrity Management and Digital Solutions, effective October 1, 2022. Dyer, with Oceaneering since 2004, brings extensive experience from roles including Regional Vice President. Granato has been with the company since 2016 and previously served as Brazil Country Manager. The CEO emphasized the importance of their promotions for continuity and leadership development.