Oceaneering (OII) Misses Q2 EPS by 4c, Revenues Miss

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Go back to Oceaneering (OII) Misses Q2 EPS by 4c, Revenues Miss

Oceaneering Reports Second Quarter 2020 Results

July 29, 2020 5:01 PM EDT

HOUSTON, July 29, 2020 /PRNewswire/ -- Oceaneering International, Inc. ("Oceaneering") (NYSE: OII) today reported a net loss of $24.8 million, or $(0.25) per share, on revenue of $427 million for the three months ended June 30, 2020.  Adjusted net loss was $14.2 million, or $(0.14) per share, reflecting the impact of $9.6 million of pre-tax adjustments associated with restructuring expenses and foreign exchange losses recognized during the quarter and $3.3 million of other discrete tax adjustments.

During the prior quarter ended March 31, 2020, Oceaneering reported a net loss of $368 million, or $(3.71) per share, on revenue of $537 million.  Adjusted net income was $3.5 million,... More