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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.
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Q3 2025 earnings summary23 Oct, 2025

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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Frequently asked questions

Oceaneering International Inc provides engineered services and products primarily to the offshore energy industry. The company offers remotely operated vehicles (ROVs), subsea hardware, and asset integrity management, as well as robotics and automation solutions for aerospace and defense. The company is headquartered in Houston, Texas, and its shares are listed on the NYSE.

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