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Oceaneering International (OII) investor relations material

Oceaneering International Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary24 Jul, 2025

Executive summary

  • Revenue rose 4% year-over-year to $698M, with net income up 56% to $54.4M ($0.54/share) for Q2 2025, and all segments posting year-over-year improvements in revenue, operating income, and margin.

  • Adjusted EBITDA increased 20% to $103M, surpassing guidance for the eighth consecutive quarter.

  • Operating income increased 31% to $79.2M for Q2 2025.

  • Diluted EPS rose to $0.54 for Q2 2025, up from $0.34 year-over-year, driven by strong contract execution and higher ROV day rates.

  • Free cash flow was $46.9M, with $10M spent on share repurchases in Q2 2025.

Financial highlights

  • Q2 2025 revenue: $698M (up from $668.8M in Q2 2024); net income: $54.4M (up from $35.0M); operating income: $79.2M (up from $60.4M).

  • Gross margin for Q2 2025 was $148.4M (21.3% of revenue), up from $120.2M (18.0%) in Q2 2024.

  • Cash and cash equivalents at June 30, 2025: $434M; net working capital: $696M.

  • Free cash flow for Q2 2025 was $46.9M after $30.3M in capex; cash flow from operations was $77.2M.

  • Book-to-bill ratio for Manufactured Products was 0.65 for the trailing 12 months; backlog at $516M.

Outlook and guidance

  • Q3 2025: Revenue expected to increase year-over-year; consolidated EBITDA forecasted at $100–110M.

  • Full-year 2025: Revenue projected to grow mid-single digits; adjusted EBITDA guidance narrowed to $390–420M.

  • Free cash flow for 2025 estimated at $110–130M.

  • SSR and ADTech segments expected to see revenue and profitability growth in Q3 2025; OPG profitability expected to decrease on flat revenue.

  • 2025 capital expenditures expected between $115M and $120M, exclusive of acquisitions.

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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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