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

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Oceaneering Reports First Quarter 2019 Results

April 29, 2019 5:01 PM EDT

HOUSTON, April 29, 2019 /PRNewswire/ -- Oceaneering International, Inc. ("Oceaneering") (NYSE: OII) today reported a net loss of $24.8 million, or $(0.25) per share, on revenue of $494 million for the three months ended March 31, 2019.  Excluding the impacts of $0.9 million of adjustments, comprised of foreign currency exchange gains and tax adjustments related to discrete tax items, adjusted net loss was $23.9 million, or $(0.24) per share.

For the fourth quarter of 2018, Oceaneering reported a net loss of $64.1 million, or $(0.65) per share, on revenue of $495 million.  Adjusted net income was $7.3 million, or $0.07 per share, reflecting the impact of $71.4 million of... More