Oceaneering (OII) is withdrawing its full-year 2020 financial guidance
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Oceaneering International, Inc. Announces Financial and Operational Update
March 31, 2020 5:13 PM EDTHOUSTON, March 31, 2020 /PRNewswire/ -- Oceaneering International, Inc. ("Oceaneering") (NYSE: OII) today announced that it is confirming its first quarter 2020 guidance. However, consequent to the emerging global public health threat caused by the COVID-19 virus and the sudden collapse of crude oil pricing, Oceaneering also announced that it is withdrawing its full-year 2020 financial guidance. Additionally, Oceaneering expects to lower its organic capital expenditures for 2020 to between $60 million and $80 million and reduce its Unallocated Expenses to an average per quarter in the upper $20 million range.
Rod Larson, President and Chief... More
