Oceaneering Intl Stock Price, News & Analysis

Oceaneering International (NYSE:OII) announced its participation in the Barclays CEO Energy-Power Conference on September 4, 2024. President and CEO Roderick A. Larson will engage in a fireside chat and, along with other management members, host meetings with institutional investors. The conference handout is available on Oceaneering's website.

Oceaneering is a global technology company providing engineered services, products, and robotic solutions to various industries including offshore energy, defense, aerospace, manufacturing, and entertainment. This event offers an opportunity for Oceaneering to showcase its capabilities and engage with potential investors.

Oceaneering International (NYSE:OII) reported Q2 2024 results with net income of $35.0 million ($0.34 per share) on revenue of $669 million. Adjusted net income was $28.6 million ($0.28 per share). Key highlights include:

- Consolidated adjusted EBITDA: $85.9 million
- Operating income: $60.4 million
- Cash flow from operations: $52.6 million
- Free cash flow: $29.8 million
- Ending cash position: $383 million

The company narrowed its 2024 consolidated adjusted EBITDA guidance to $340-$370 million and expects free cash flow of $110-$150 million. Subsea Robotics (SSR) and Manufactured Products segments showed improved performance, while Aerospace and Defense Technologies (ADTech) faced challenges.

Oceaneering's Offshore Projects Group has secured multiple contracts with global energy companies for vessel services in the Gulf of Mexico.

The work will involve both basic and heavy inspection, maintenance, and repair (IMR) services, including advanced technologies like photogrammetry and subsea visual metrology.

The contracts cover initial commitments of 60 and 120 days, with potential for extension.

These agreements are expected to improve fleet utilization and reinforce Oceaneering's position in the market.

Oceaneering International (NYSE: OII) has announced the release of its second quarter 2024 financial results, scheduled for Wednesday, July 24, 2024, after market close. These results will be available on their official website. Additionally, a conference call and webcast will take place on Thursday, July 25, 2024, at 10:00 a.m. Central Time, accessible via the Investor Relations section of their website. A replay of the call will be available approximately two hours post-conclusion. Oceaneering is a global technology company providing engineered services, products, and robotic solutions across various industries, including offshore energy, defense, aerospace, manufacturing, and entertainment.

Oceaneering International (NYSE:OII) has secured a $50 million contract with a domestic energy company for an electro-hydraulic, steel tube dynamic umbilical system. The project, located in the Gulf of Mexico, will involve manufacturing a 27-kilometer umbilical at Oceaneering's Panama City, Florida facility. Production is set to begin in 2025, with a final delivery in the second quarter of 2026. Senior VP Shaun R. Roedel highlighted customer confidence in Oceaneering's timely and safe delivery of manufactured products.

Oceaneering International announced that its President and CEO, Roderick A. Larson, will present at the J.P. Morgan Energy, Power & Renewables Conference in New York on June 18, 2024. Larson, along with CFO Alan R. Curtis, will also engage with institutional investors. The company's Q1 2024 Investor Presentation is available on their website. Oceaneering is known for providing advanced engineered services and robotic solutions in various sectors, including offshore energy, defense, aerospace, manufacturing, and entertainment.

Oceaneering International, a leading subsea engineering and applied technology company, has secured two major contracts with Petrobras. These contracts, obtained through competitive bidding, are expected to generate between $120 million and $183 million in revenue. Oceaneering will supply 362 kilometers of steel tube and thermoplastic electro-hydraulic umbilicals, along with associated subsea distribution hardware, for Petrobras' offshore projects in Brazil. The manufacturing will occur at Oceaneering's facility in Niteroi, Brazil, with deliveries expected by Q4 2027. This accomplishment highlights Oceaneering's strong market position and commitment to quality and timely delivery.