Oceaneering Reports First Quarter 2019 Results

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Go back to Oceaneering Reports First Quarter 2019 Results

Oceaneering (OII) Tops Q1 EPS by 21c, Revenues Beat

April 29, 2019 5:02 PM EDT

Oceaneering (NYSE: OII) reported Q1 EPS of ($0.24), $0.21 better than the analyst estimate of ($0.45). Revenue for the quarter came in at $493.89 million versus the consensus estimate of $465.25 million.

Roderick A. Larson, President and Chief Executive Officer of Oceaneering, stated, "We are very pleased that our first quarter results exceeded expectations. Higher than expected activity and good execution within our energy-focused businesses were key factors in achieving this performance. Each of our operating segments generated positive EBITDA, and our consolidated adjusted EBITDA of $30.4 million surpassed published consensus estimates.

"Based on our first quarter... More