Oceaneering International Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue and adjusted EBITDA grew 6% and 7% YoY, respectively, while net income fell due to a one-time refinancing loss. FY2027 EBITDA guidance is $430 million-$480 million, with timing of offshore activity and defense programs driving uncertainty.
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Second quarter 2026 results exceeded guidance, with 10% revenue growth and record adjusted EBITDA, driven by strong performance in OPG and SSR. Full-year EBITDA guidance was raised, and liquidity was enhanced through refinancing. Energy and defense segments saw major contract wins.
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First quarter 2026 results met guidance with revenue up 3% year-over-year and strong order intake. ADTECH led segment growth, while SSR and manufactured products also improved. Full-year guidance is reaffirmed, with expectations for stronger energy market activity in the second half.
Fiscal Year 2025
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Strong 2025 execution led to higher cash, improved margins, and record ADTech contract wins. 2026 guidance calls for modest revenue and EBITDA growth, with ADTech as the main driver and energy markets expected to recover in the second half.
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Q3 2025 saw a 9% revenue increase and record adjusted EBITDA, driven by strong backlog conversion and robust activity across segments. 2025 and 2026 guidance reflects stable energy business, significant AdTech growth, and continued capital returns.
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Q2 2025 saw 20% adjusted EBITDA growth and broad segment improvements, with strong cash flow and share repurchases. Full-year guidance was tightened upward, and major contract wins in defense and manufacturing support a positive outlook.
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Q1 2025 saw strong revenue and profit growth, driven by SSR and OPG, with a record $1.2B order intake and robust backlog. Full-year guidance was reiterated despite market volatility, supported by major contract wins and diversified operations.
Fiscal Year 2024
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Order intake reached $2.9 billion in 2024, with revenue and EBITDA showing strong year-over-year growth. 2025 guidance calls for mid to high single-digit revenue growth and a 17% EBITDA increase at midpoint, supported by robust segment performance and a healthy backlog.
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Q3 2024 saw strong adjusted EBITDA and free cash flow despite hurricane disruptions and a one-time loss from a business sale. SSR and Manufactured Products drove year-over-year growth, while 2025 guidance points to a 20% EBITDA increase, higher capex, and continued market expansion.
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Q2 2024 delivered strong revenue and margin growth across all segments, with SSR and Manufactured Products leading gains. Full-year guidance was narrowed upward, supported by robust backlog, improved pricing, and healthy offshore activity.