Oceaneering (OII) Tops Q4 EPS by 5c

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Go back to Oceaneering (OII) Tops Q4 EPS by 5c

Oceaneering Reports Fourth Quarter and Full Year 2021 Results

February 24, 2022 5:01 PM EST

HOUSTON--(BUSINESS WIRE)-- Oceaneering International, Inc. ("Oceaneering") (NYSE: OII) today reported a net loss of $38.8 million, or $(0.39) per share, on revenue of $467 million for the three months ended December 31, 2021. Adjusted net income was $5.0 million, or $0.05 per share, reflecting the impact of $30.6 million of pre-tax adjustments associated with the write-off of certain uncollectible accounts and foreign exchange losses recognized during the quarter and $19.6 million of discrete tax adjustments, primarily due to changes in valuation allowances.

During the prior quarter ended September 30, 2021, Oceaneering reported net loss of $7.4 million, or $(0.07) per share, on revenue of $467 million.... More