Oceaneering International, Inc. (OII) Earnings Call Transcripts

Oceaneering International, Inc.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Oceaneering International, Inc. reported consolidated revenue of $692 million, a 3% year-over-year increase, but a decline in operating income and net income, down 21% and 28% respectively. The company maintained its guidance for the full year, projecting revenue growth in the low to mid-single digits and adjusted EBITDA between $390 million and $440 million. Management highlighted a strong order intake of approximately $1 billion, indicating robust commercial momentum despite challenges in the energy sector due to geopolitical tensions.

Reported metrics

Guidance from management

Oceaneering reaffirmed its full-year guidance for low to mid-single-digit revenue growth and adjusted EBITDA of $390 million to $440 million, despite ongoing geopolitical uncertainties.

What management said

I'd characterize it this way, I think you'd be hard-pressed to try to see an inflection point or anything in the orders. I think everything was kind of underway anyway. So not a big thing. I will call out this, but 1 of the things that's interesting about the order is that when you think about it is just a near-term or long-term effect on oil prices, we had an increase in longer-term contracts. So we averaged above 1...

Yes. Yes, and definitely, the back half helps, but also just -- I mean, the biggest part is the seasonality, right? We do get busier on vessels, especially in the second and third quarter. So we've got that going on plus some of these contracts that I just talked about will pick up in the fourth quarter. So we'll have some mobilizations in there as well.

What analysts pressed on

Analysts expressed concerns about the impact of geopolitical tensions on future revenue and ROV utilization rates. There were questions regarding the sustainability of recent pricing increases in the ROV segment and the potential for lower profitability in certain geographic regions.

Main topics on the call

• Strong Order Intake — Oceaneering reported a first quarter order intake of approximately $1 billion, marking it as 'one of the healthiest intake since 2020'. This strong performance is expected to support future revenue growth.
• Segment Performance Variability — While Aerospace and Defense Technologies showed significant revenue growth, the energy sector faced softer activity. Management noted, 'despite softer energy center activity, subsea robotics and manufactured products bot...
• Impact of Geopolitical Tensions — Management acknowledged intermittent disruptions due to the Middle East conflict but stated that the 'consolidated financial impact has thus far been modest.' They are closely monitoring conditions and coordinating with ...
• Future Revenue Guidance — For the second quarter of 2026, Oceaneering expects revenue to increase with EBITDA projected between $100 million and $110 million. They reaffirmed their full-year guidance despite geopolitical uncertainties.

Read the full Oceaneering International, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 29 Oceaneering International, Inc. earnings call transcripts on record, spanning February 25, 2020 to July 23, 2026. Based on this history, Oceaneering International, Inc. reports quarterly. The most recent call on file is dated July 23, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

OII

Exchange

NYSE

Country

US

Sector

Energy

Industry

Energy Equipment and Services

Calls on record

29

First call

February 25, 2020

Most recent

July 23, 2026

Reporting cadence

quarterly