Welcome to our dedicated page for Oceaneering International news (Ticker: OII), a resource for investors and traders seeking the latest updates and insights on Oceaneering International 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 reported a net loss of $24.8 million, or $(0.25) per share, on $427 million in revenue for Q2 2020. Adjusted EBITDA was $40.5 million, exceeding estimates, and free cash flow reached $26.9 million. Although revenue decreased by 20%, cost-reduction efforts sustained a 9% adjusted EBITDA margin. The ROV fleet utilization fell to 59%, while backlog declined to $486 million. The company maintains a cautious outlook due to ongoing uncertainties from COVID-19 and oil price volatility, with no segment guidance for Q3.
Oceaneering International, Inc. (NYSE:OII) has announced its schedule for reporting financial results for the second quarter of 2020. The earnings release will occur on July 29, 2020, after the market closes, and will be available on the company’s website. A conference call and webcast discussing the results will follow on July 30, 2020, at 10:00 a.m. Central Time. Oceaneering provides engineered services and products mainly for the offshore energy sector, as well as other industries including defense and aerospace.