Oceaneering Intl Stock Price, News & Analysis

Oceaneering International (NYSE: OII) will report its financial results for the fourth quarter and full year 2020 on February 24, 2021, after market close. The earnings release will be available on the company's website. A conference call to discuss the results is scheduled for February 25, 2021, at 10:00 a.m. Central Time. Oceaneering provides engineered services and products to the offshore energy industry and also serves sectors like defense and entertainment.

Oceaneering International (OII) announced significant contract wins in its Subsea Robotics segment, totaling over $225 million during Q4 2020. These contracts, spanning from several months to five years, involve services for remotely operated vehicles (ROVs) and subsea construction for international oil and gas operators. The company is also expanding in the renewable energy sector, evidenced by a contract for its advanced ROVs supporting offshore wind projects. CEO Rod Larson emphasized the confidence customers have in Oceaneering as they continue to invest in offshore developments.

Oceaneering International (NYSE: OII) announced multiple contract wins exceeding $250 million for its Integrity Management and Digital Solutions (IMDS) segment since early Q4 2020. These contracts span three to five years and include services in monitoring, diagnostics, and integrity management across various international projects. Notably, 55% of these contracts are renewals while 45% represent new business. Work sites include locations in Qatar, Angola, Azerbaijan, the United States, and Australia.

Oceaneering International, a leader in engineered services for the offshore energy sector, announced that its President and CEO, Roderick A. Larson, will engage with institutional investors and join the Oilfield Services panel at the Goldman Sachs Global Energy Virtual Conference on January 6, 2021. The conference handout is accessible on Oceaneering's Investor Relations website. Notably, the panel discussion will not be webcast. Oceaneering also supports the defense, aerospace, and entertainment industries through its applied technology expertise.

Oceaneering reported a net loss of $79.4 million or $(0.80) per share for Q3 2020 on revenues of $440 million. Adjusted net loss was $17.6 million, impacted by $68.7 million in pre-tax adjustments. Compared to Q2, net loss increased from $24.8 million on lower revenues. Adjusted EBITDA rose to $45.1 million, exceeding expectations. The cash position improved to $359 million, with $19 million free cash flow. Despite headwinds in the energy market, segments reported positive adjusted income. Future results are projected to decline due to seasonal factors.

Oceaneering International (NYSE: OII) announced its third quarter 2020 financial results will be reported on October 28, 2020, after market close. The earnings press release will be accessible on Oceaneering's website. A conference call is scheduled for October 29, 2020, at 10:00 a.m. Central Time, where interested parties can listen via a webcast. Oceaneering provides engineered services primarily to the offshore energy industry, along with serving defense, aerospace, and entertainment sectors.

Oceaneering International (NYSE:OII) announced a significant contract with the U.S. Navy's Naval Sea Systems Command on Sept. 29, 2020, valued at up to $119 million. The contract spans one year with four potential one-year extensions, focusing on the operation and maintenance of submarine rescue systems. Oceaneering has over 20 years of experience supporting the U.S. Navy's submarine rescue program, enhancing its capabilities. This contract underscores Oceaneering's commitment to safety and quality in defense technologies.

Oceaneering International (NYSE: OII) announced a realignment of its operating segments to enhance cost efficiencies starting with Q3 2020 results. This restructuring organizes its business units into five segments: Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies. The CEO, Rod Larson, emphasized that this change aims to leverage synergies across businesses to drive value for customers and shareholders, aligning with their cost-reduction goals.

Oceaneering International announced that President and CEO Roderick A. Larson will participate in a virtual fireside chat at the Barclays CEO Energy-Power Conference on September 9, 2020. The discussion will include investor meetings for institutional stakeholders. The company, listed under the ticker OII, specializes in engineered services for the offshore energy sector, leveraging technology for various industries including defense and aerospace. Further details can be found on Oceaneering's website.