Oceaneering International ( (OII) ) has released its Q1 earnings. Here is a breakdown of the information Oceaneering International presented to its investors.
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Oceaneering International, Inc. is a global technology company that provides engineered services, products, and robotic solutions primarily to the offshore energy, defense, aerospace, and manufacturing industries.
In its first quarter of 2025, Oceaneering International reported a robust financial performance with a revenue of $675 million, marking a 13% increase from the previous year. The company also saw a significant rise in operating income and net income, which increased by 100% and 233% year over year, respectively.
Key financial highlights include an adjusted EBITDA of $96.7 million, a 57% increase from the previous year, despite a $10.4 million inventory reserve adjustment in the Manufactured Products segment. The Subsea Robotics and Offshore Projects Group segments were major contributors to this growth, with improved operating income and margins. The Aerospace and Defense Technologies segment secured a substantial contract, setting the stage for future growth. However, the company faced challenges with cash flow, reporting a negative free cash flow of $107 million.
Looking ahead, Oceaneering’s management remains optimistic, maintaining its full-year 2025 EBITDA guidance of $380 million to $430 million, despite acknowledging potential market uncertainties. The company expects continued growth across its segments, driven by ongoing projects and strategic initiatives.