Oceaneering (OII) Tops Q3 EPS by 6c; Offers FY23 EBITDA Guidance

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Go back to Oceaneering (OII) Tops Q3 EPS by 6c; Offers FY23 EBITDA Guidance

Oceaneering Reports Third Quarter 2023 Results

October 25, 2023 5:01 PM EDT

HOUSTON--(BUSINESS WIRE)-- Oceaneering International, Inc. ("Oceaneering") (NYSE: OII) today reported net income of $29.8 million, or $0.29 per share, on revenue of $635 million for the three months ended September 30, 2023. Adjusted net income was $38.5 million, or $0.38 per share, reflecting the impact of $(0.9) million of pre-tax adjustments associated with foreign exchange gains recognized during the quarter, $0.6 million tax effect on adjustments associated with foreign exchange gains and $9.0 million of discrete tax adjustments, primarily due to changes in valuation allowances, uncertain tax positions and prior year estimates.

During the prior quarter ended June 30, 2023, Oceaneering reported net... More