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Oceaneering International (OII) investor relations material
Oceaneering International Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue rose 9% year-over-year to $743M, with net income up 73% to $71.3M and adjusted EBITDA reaching $111M, the highest since Q4 2015, driven by strong backlog conversion and robust activity across segments.
Operating income increased 21% to $86.5M, with diluted EPS up to $0.71 from $0.40 in Q3 2024.
Free cash flow was $77M after $24.2M in investments; cash on hand at quarter end was $506M.
Share repurchases totaled $10.1M in Q3 and $30M in the first nine months of 2025; 5.8M shares remain under authorization.
Inbound orders reached $854M, with major contract wins across several segments.
Financial highlights
Q3 2025 revenue: $743M (up from $679.8M in Q3 2024); operating income: $86.5M; net income: $71.3M; adjusted EBITDA: $111M.
Gross margin for Q3 2025 was $152.7M; operating margin improved to 12%.
Diluted EPS for Q3 2025: $0.71; adjusted net income: $55.8M ($0.55 per share).
Free cash flow for Q3 2025: $77M; cash and cash equivalents: $506M.
For the nine months ended September 30, 2025: revenue $2.12B, net income $176.1M, adjusted EBITDA $311M.
Outlook and guidance
Q4 2025 revenue expected to be lower year-over-year; consolidated EBITDA projected at $80M–$90M.
Full-year 2025 adjusted EBITDA guidance: $391M–$401M; free cash flow guidance: $110M–$130M.
2026 initial EBITDA guidance: $390M–$440M, with free cash flow expected to be consistent with 2025; continued share repurchases planned.
Capital expenditures for 2025 expected at $115M–$120M; income tax payments estimated at $110M–$120M.
2026 forecast assumes resolution of government shutdown in 2025; OPG revenue and income for 2026 depend on customer project schedules.
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