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TranscriptFY2026 Q32026-10-22FY2026 Q3 earnings call transcript
Earnings source - 66 paragraphs
FY2026 Q3 earnings call transcript
I will now turn the call over to Hilary Frisbie, Oceaneering's Senior Director of Investor Relations.
Thanks, Alan. Good morning, and welcome to Oceaneering's third quarter 2026 results conference call. Today's call is being webcast and a replay will be available on our website. With me today are Rod Larson, President and Chief Executive Officer, who will provide our prepared comments, and Mike Sumruld, Senior Vice President and Chief Financial Officer. After Rod's remarks, we will open the call up to your questions. Before we begin, please note that statements made on this call about our future financial performance, business strategy, plans for future operations, and industry conditions are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Our remarks also include non-GAAP financial measures. Additional details and reconciliations to the most directly comparable GAAP financial measures are included in our third quarter press release, which is available on our website.
With that, I'll turn the call over to Rod.
Good morning, everybody, and thanks for joining the call today. As Hilary mentioned, I'm going to be handling all of our prepared remarks today. Mike is saving his voice for all of your math questions, so be ready. Our third quarter performance demonstrates the earnings potential of our portfolio with favorable pricing activity and project mix alignment. Consolidated adjusted EBITDA was $119 million, in line with our guidance and our highest quarterly level since the fourth quarter of 2015. These results reflect solid performance in Subsea Robotics, or SSR, resilience in the Offshore Projects Group, or OPG, and improvement in Integrity Management and Digital Solutions, IMDS. Highlights from the quarter include SSR delivered increased revenue, operating income, and EBITDA margin, with the latter reaching its highest level since we resegmented our businesses in 2020.
We also won approximately $180 million of ROV and survey contracts across multiple regions, with contract terms extending into 2031. OPG saw steady demand for its higher-revenue services with a favorable mix of installation projects contributing to third quarter performance. Manufactured Products secured awards of approximately $160 million during the quarter, supporting our expectation for stronger order intake in the second half of the year. Aerospace and Defense Technologies, or ADTech, secured follow-on contracts for two strategically important U.S. Navy programs, dry deck shelters and submarine rescue systems. The dry deck shelter contract, a program we have supported for over 20 years, has a total potential value of $154 million over five years, while the submarine rescue system contract has a potential value of $67 million over 18 months.
Today, I'll focus my comments on our third quarter 2026 results, our outlook for the fourth quarter of 2026, and our initial guidance for 2027. Starting with our consolidated results for the third quarter of 2026 compared to the third quarter of 2025, we delivered revenue of $785 million, a 6% increase, with growth across every operating segment. Operating income of $92 million, a 7% increase, and adjusted EBITDA of $119 million, also a 7% improvement. Net income attributable to Oceaneering was $52.6 million, or $0.52 per share, a decrease of 26%. The decrease was primarily attributable to a one-time loss related to the refinancing of our long-term debt completed during the third quarter. Adjusted EBITDA increased 7% to $119 million. Turning to our cash flow and liquidity, we generated $163 million of cash from operating activities.
Capital expenditures were $21.1 million, with approximately 31% allocated to growth and 69% allocated to maintenance. This investment was less than anticipated, largely due to timing, with most of the deferred spending now expected in the fourth quarter. Free cash flow was $142 million, reflecting strong third-quarter results, as well as lower cash taxes and deferred capital expenditures. We expect both cash taxes and capital expenditures to increase in the fourth quarter, resulting in more moderate free cash flow generation to close the year. During the quarter, we also repurchased shares of approximately $5 million, with a focus on mitigating dilution associated with employee equity grants. We ended the quarter with a cash balance of $735 million, total liquidity of more than $1 billion, and no borrowings under our revolving credit facility.
Now let's look at our business operations by segment for the third quarter of 2026, also compared to the third quarter of 2025. SSR delivered revenue of $233 million and operating income of $75.4 million, both higher year-over-year. These results benefited from improved ROV pricing, with average revenue per day utilized increasing to $11,781 from $11,254, as well as higher survey activity. SSR EBITDA margin improved to 39%, primarily driven by ROV pricing improvements in Europe, West Africa, and Norway. Increased survey activity and a one-time contractual cost recovery related to U.S. Gulf operations also contributed to higher margins. ROV fleet utilization remained stable at 65% as higher activity levels in Europe, Guyana, and West Africa largely offset lower activity in the U.S. Gulf.
For the quarter, the revenue split between our ROV business and our combined tooling and survey businesses as a percentage of our total SSR revenue was 75% and 25%, compared to 77% and 23% in the third quarter of 2025. ROV days utilized in drill support were 62%, while vessel-based services were 38%, compared to 63% and 37%, respectively, in the prior year quarter. As of September 30, 2026, we had ROV contracts on 80 of the 136 floating rigs under contract for 59% market share. We maintained our fleet count of 250 ROV systems. Manufactured Products generated operating income of $25.1 million, relatively flat with the prior year quarter, while operating income margin decreased slightly to 15% on an 8% increase in revenue. These results were impacted by the final resolution of a legacy mobility solutions contract, including recognition of the previously unresolved contract value.
The decline in operating income margin was primarily due to lower Grayloc projects activity and profitability following a particularly profitable order in the prior year quarter. Our backlog as of September 30, 2026, was $435 million and was largely sustained by order intake during the quarter of $160 million. Our book-to-bill ratio was 0.77 for the trailing 12-month period. Based on these recent bookings, together with our sales funnel, we remain confident in our ability to achieve a full-year book-to-bill ratio of 0.9-1.0. OPG revenue, operating income, and operating income margin were relatively flat. Results benefited from international installation projects that concluded during the quarter, which more than offset lower activity in West Africa and a less favorable project mix in the U.S. Gulf.
IMDS revenue increased 7%, while operating income and operating income margin were relatively flat, reflecting increased activity in the Middle East, Europe, and the U.S. Gulf, which was partially offset by lower activity in West Africa, the changing project mix, and increased costs in the Middle East. ADTech revenue increased 7% to $135 million as our previously announced large-scale program reached its full staffing levels for its current phase. Operating income decreased by 11% to $14.7 million, and operating income margin decreased to 11% due to increases in pass-through activities during the quarter and increases in certain expenses. Unallocated expenses of $50 million were consistent with our guidance for the quarter. Turning to our outlook for the fourth quarter of 2026 compared to the fourth quarter of 2025. We expect consolidated revenue to increase year-over-year and consolidated EBITDA to be in the range of $85 million-$95 million.
By segment, for SSR, we expect revenue to increase, supported by higher ROV revenue per day utilized and increased survey activity. Operating income is expected to decrease due to changes in ROV geographic mix, additional mobilization costs as rigs relocate from the U.S. Gulf to other regions, and a greater mix of lower-margin survey activity. For Manufactured Products, we anticipate higher revenue and operating income. For OPG, we expect revenue to remain relatively flat and operating income to decrease due to changes in project mix, including the completion of an international intervention project that benefited the prior year quarter and a shift to lower-margin work in the U.S. Gulf. For IMDS, we anticipate higher revenue and operating income. For ADTech, we expect both revenue and operating income to be higher. We project unallocated expenses to be in the $50 million range. Now I'll discuss our initial outlook for 2027.
Looking ahead to 2027, the outlook for global deepwater markets remains constructive, with industry forecasts pointing to higher spending and activity. Floating rig activity is expected to strengthen over the course of the year as rigs complete transit to new regions and begin drilling programs. These trends provide a favorable backdrop as we establish our initial 2027 guidance. The U.S. Defense environment also remains supportive, particularly across subsea programs. However, the continuing resolution and uncertain timing of appropriations process could affect the timing of program activity within ADTech. These industry conditions support our expectations for improved performance in 2027. As we announced yesterday, we are initiating consolidated EBITDA guidance in the range of $430 million-$480 million, with free cash flow expected to exceed our anticipated 2026 level.
At the segment level, compared to the full year of 2026, for Subsea Robotics, we expect that higher ROV utilization levels and similar pricing levels, together with improved results in survey and tooling, will generate increases in revenue and operating income and stable EBITDA margins. For Manufactured Products, revenue, operating income, and operating margin are projected to be relatively flat. For OPG, we expect revenue to decrease, operating income to be flat, and operating margin to improve due to changes in project mix and similar utilization levels in the U.S. Gulf. For IMDS, we expect increased revenue, significantly increased operating income, and improved operating margin. For ADTech, we expect significantly higher revenue and operating income and improved operating margin. We expect a slight increase in unallocated expenses. We also plan to continue share repurchases in 2027, with approximately 5 million shares remaining under our existing repurchase authorization.
As we move through the planning cycle and our customers finalize their 2027 budgets, we expect to gain greater visibility into activity levels and the timing of opportunities across our businesses. We will provide more detailed guidance for 2027 during the year-end reporting process. In summary, we remain focused on executing through the remainder of 2026 while positioning the business for opportunities we see developing in 2027. Our priorities remain discipline, execution, cash generation, and maintaining financial flexibility to support our longer-term objectives. Thanks for your continued interest in Oceaneering. We will now be happy to take your questions.
We will now begin the question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. We ask that you pick up your handset when asking a question for optimum sound quality, and if muted locally, please remember to unmute your device. Please stand by while we compile the Q&A roster. Your first question comes from the line of Eddie Kim with Barclays. Your line is open. Please go ahead.
Hi, good morning. Just want to touch on the
Hi, Eddie.
preliminary 2027 EBITDA guidance of $430 million-$480 million, which spans a fairly wide range there. Just curious which two or three of the other largest operational assumptions separating the low end from the high end there, and which segments account for most of that $50 million spread?
I think it's the normal characters, Eddie. As always, SSR's got some of that based on, we've got the rig moves this year, and we've got some of those things that are a little bit timing based. I think that's a part of it. Some of them will be ADTech, like we said, because we talked about some of these programs. When do the programs kick off? How does appropriations work out in some of the continuing resolutions? If it gets resolved sooner, that brings things forward in the year and gives us more opportunity in the year. If it pushes back a little bit, it brings us to the lower end of the range. Finally, OPG. OPG's got room to pick up more international opportunities, and I think, actually, probably if I think about OPG, it drives us to the higher end of the range.
If we can put more things in that bucket, which we hope to resolve some of that between now and when we report next time, I think OPG could bring more goodness to the mix as well. I think those are the typical ones. I don't expect a big change in Manufactured Products because that's long lead time stuff, and I wouldn't expect a whole lot of change in IMDS just because of the relative scale.
Got it. Understood. I just wanted to touch on the low end of that range, $430 million, doesn't represent that big of an increase over 2026, which is surprising just in light of the strong growth you're expecting to see in ADTech next year. It almost implies sort of a flattish trajectory in the energy segments, which is almost counter to the constructive outlook and the offshore inflection that's expected next year. Just does the low end of that guidance imply spending slowing down? Is that based on customer conversations you're having or an assumption that oil prices are going to be substantially less next year than they are now? Just any more color on that low end of the guidance would be great.
I think it's mostly timing, Eddie. I think everybody thinks that things are constructive. They expect some of these pickups throughout the year, next year. We have to make sure that we're not overstating when it starts. I think that's always the trick here, is a lot of times we get the story right, but we get the timing wrong, and so we're a little bit cautious on how fast some of these things will come to fruition when they start spending. It's more about that. I think we truly believe that the thesis is right, the expectation for the macros is right. We're just being a little bit cautious because, like I said, rigs will be moving. Some of the other projects for OPG are being contemplated, but they haven't been hard scheduled. Some of that stuff is what we're. I think it's more the timing.
Mike, would you add anything?
Yeah, I think it is early days, too, right? This is only October. I think as we start to wrap up the year, talk to our customers, they solidify their CapEx budgets, and we start to see what is happening with the rig movements. That could change, right? It is a little early.
Got it. Understood. Appreciate all that color. I will turn it back.
Your next question comes from the line of Keith Beckmann with Pickering Energy Partners. Your line is open. Please go ahead.
Hey, good morning, and thanks for taking my question.
Hey, Keith.
Obviously, we had. Hey, how's it going? With the refinancing that was completed kind of during the summer and maybe the significant net cash position you guys have here, right? How are you guys thinking about capital deployment heading into 2027 and maybe more specifically within ADTech? What's maybe an example of kind of a business that could make sense from an M&A perspective versus something that doesn't, if you guys went that route? How are you weighing that against buybacks? Thank you.
Sure, Keith. I appreciate that question. You led into that. I think capital deployment, we expect to continue to make investments in our core energy businesses. There may be even some opportunity to bolt on some technology, some things that we can be a little disruptive with in the energy side, on that side of the business. On the ADTech side, it is a lot of focus around are there some inorganic opportunities, some acquisitions that make sense? I would say the things that make sense are things that are normally valued, right? Things like machining capacity or workforce capacity that we can bring to bear on the SUBSAFE programs we work on, the new submarine build, things like that we could say we can use our certifications to bring them up to government specs faster.
These are things that you would pay normal amounts for and then be able to add value through our competencies. I think those things make sense. I think when we're working on some of the more highly technical vehicle-type programs, we could be looking at some of our partners, some of the people that work as subcontractors for us or bring a unique piece of technology to the mix, whether that's more electronics or a different type of sensor technology or something like that. I think those are things that are kind of niche-y maybe, or a little bit bigger than niche-y. They make sense. What doesn't make sense is us. We've got an established brand. I don't think we need to go buy one of the big, super, what I consider overvalued, flashy names just to try to buy credibility with the customer.
I don't think we need to go into that ridiculous multiple range to try to get a foot in the door. We're already there. We've got one of the strongest operational reputations in the business. They know we've been here. Some people forget that we've been in that government business. We're a 60-year-old company. We've been in the government side more than 40 years, so it's not like we're new to the game. We don't need to buy presence, so to speak.
Okay, perfect. That's really helpful. My second question is, maybe any more color we can get around the ongoing continuing resolution going on, right? With the government spending. I'm just trying to get a sense on the potential range of outcomes for 2027, like what could be more of the low end versus the high end. I guess more specifically, those are words solely there, right? It's more of a function of timing rather than actually things going away. Is that the right way to think about it, right? Just kind of when things start. Sorry, I'll turn it over.
Yeah, that's exactly it. It's really the sensitivity is more on new project starts, right? Continuing resolution means if you're doing it, you get to continue doing it. I think a lot of those things, we've got a pretty good support from nearly all the work we're doing. Some of the newer things we've won could get slowed down. On the other hand, I will say, while there's always this risk, right now I feel better about what we're hearing coming off the Hill and what we're hearing about potential resolution for a defense spending bill, for example. It seems like even for an election year, people are really keen to get a defense bill in place. Probably not surprising given the geopolitical climate. But, I'm not as worried about the defense portion of that. I think there really is a lot of cooperation going on.
I remain quite optimistic that while it's an unknown out there and what we do is think it's appropriate to call caution to it or call attention to it, I do feel like we've probably got better information coming back to us than we have in past years.
Awesome. I really appreciate it and I will turn it back. Thanks, guys.
Thanks, Keith.
Your next question comes from the line of Colby Sasso with Daniel Energy Partners. Your line is open. Please go ahead.
Hi, thanks for taking my question. Just when thinking about 2027, could you talk about where you see the most growth from a geographical standpoint next year?
Sure. I think a lot of it is Brazil, of course, we still see growing. We see Guyana growing. We also see rest of Africa. We see opportunities in the rest of Africa. I think those are good. One of the things we call out is the Gulf of Mexico. It is just the Gulf of Mexico already has slowed down. We got to see how much resilience the Gulf of Mexico has, and that is one that we would be keeping our eye on. Mike, what else would you call on?
Oh, I think rest of Africa is a good one. Mozambique is seeing a lot of activity, roaring back in again all across West Africa. It is a challenging place to work, but we have done work there for years and years and got some work lined up there as well.
Yeah, I do not know that everybody realizes, but Mozambique could have as much drilling activity as Guyana within a year or two.
Just another follow-up. How are you thinking about inflation across your supply chain? Is this dragging on margins at all today? If so, how long will this take to ultimately push through to your customer base? Could it potentially be a tailwind for margins in 2027?
I can't call that out as a huge factor, Colby. Most of it, where we see the biggest part of it's been manufactured products, obviously, and especially with some of the bigger components to go into an umbilical. Those things are almost always price adjusted or cost adjusted into the price. Those we recover on the same product, in the same bid. That's not such a big one. It would be the biggest impact if it weren't. Then the rest of it is within our reach. We're able to mitigate a lot of it. For example, what shows up in R&M in the ROV business, we can mitigate that just by being more efficient, being more careful about where we're buying things, how we're sending them around the world. I think the mitigations have been pretty effective.
Labor rates are always probably the thing that we're most sensitive to. I would say that the customers are pretty good about recovering labor rates because they value their crews. They like the people who work for them. I think they're very well aware of what's going on in the labor market because they have to deal with it to some degree as well. Getting adjustments for labor rates has been pretty effective so far. I can't hang a lot of things up on that. Although, the more efficient we get, the smarter we get at operating the business, all of those things can help us get into cost reductions to make us more competitive.
Yeah. The escalation of costs is in our contracts really help on the labor side. Plus, the more we do from a remote operating perspective, I think also reduces our footprint and our costs.
Absolutely.
I think we just haven't had a major issue, I don't think, that I could tell from inflation right now. I'm not overly concerned about it. That's all from me. I'll turn it back.
Thanks, Colby.
As a reminder, if you would like to ask a question, please press star one to raise your hand. Your next question comes from the line of James West with Melius Research. Your line is open. Please go ahead.
Hey, good morning, Rod, Mike.
Hey, good morning, James.
Morning.
Rod, you talked about Guyana growing, other Africa growing. Mozambique was highlighted as well. What are you seeing outside of Brazil, Africa, maybe a little bit of Gulf of Mexico? What about Mediterranean, offshore North Africa? What are you guys seeing in those regions of the world, just as gas-heavy areas where gas is just becoming a much more important product these days? Just curious your thoughts there.
I think the Eastern Med definitely is still a lot of opportunity kind of tempered a little bit by activity or by that geopolitical situation over there, but there's still a lot of interest. You've got ENI working over there on Chevron projects and others. I think that's one that's got a lot of upside potential, to your point. One of our really good projects was offshore Egypt. We had a great installation project there this year, and I think we see opportunity for more of that kind of work. The Med's an interesting one. We don't call it out because it's a little more, I would call it a little more sporadic, but wow, it could be meaningful for sure. Norway's always an interesting one. Norway is persistent.
As Equinor starts to find things, the other thing we see from Norway is the potential for a lot of subsea tiebacks. They've talked about improving seismic resolution through AI, and that can light up some spots in existing fields that make really good opportunities for subsea tiebacks. We love those because we can do a full installation project there and provide the umbilical and a lot of engineering. I think the more we see tiebacks in the near future, which again, if we have a continued strong commodity price, tiebacks are one of those things that's easiest to get on the budget. That could affect Norway for sure, but if that becomes sort of greater interest, it definitely could affect independents of the Gulf of America.
Okay. That's very helpful. Maybe a follow-up question, not necessarily related to that, but how are you thinking about capital allocation on your oil and gas business versus your military business, which has been growing? Because there's kind of upside capital cycles happening in both areas right now. You've got to, I would think, kind of balance where you see the best returns. I'm kind of curious how you're thinking about that.
I think there's still opportunities. When we talk about, Mike mentioned earlier in one of the questions about more remote work, being able to do more remote work, being able to do work differently, actually, things that we can do that improve the efficiency of both work we do and the customer's work. There's a chance to be a little disruptive with technology. I think investments in the energy side are going to make sense. We're going to find things that make a lot of economic sense, both from their value standalone, but also from the value they bring to protecting our core, right? Things that we enhance ROV operations with that make us even stronger within those pieces of the business really makes sense.
Right.
Subsea inspection, let me use that one as an example. Doing more and more digital twin modeling, building a digital twin from ROV video and then using that to devise a risk-based inspection program for subsea assets as we try to keep subsea assets going longer, tying back more things to existing infrastructure, stuff like that, keeping TOPs running longer. All of these things require more inspection while in service. The more of that we can do with technology, and of course, there's a lot of really cool technology out there that can be leveraged here. I think that's the kind of stuff that really does warrant continued investment inside the energy business.
Got it. Thanks for discussing it. Thanks, guys.
Yeah. Thanks, James.
There are no further questions at this time. I will now turn the call back to Rod Larson for closing remarks.
Well, since there are no more questions, I will just wrap up by thanking everybody for joining the call. This concludes our third quarter 2026 conference call.
Thank you for attending. You may now disconnect.
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Wrapping up Q2 earnings, we look at the numbers and key takeaways for the oilfield services stocks, including Oceaneering (NYSE:OII) and its peers. Oilfield services companies provide equipment, technology, and services enabling exploration and production activities, including drilling, completion, well intervention, and reservoir evaluation. Their fortunes closely track upstream capital spending cycles. Tailwinds include increased drilling activity during favorable commodity environments, demand for efficiency-enhancing technologies, and growing offshore and unconventional resource development. Headwinds include significant revenue volatility tied to oil and gas price swings and producer spending discipline. Intense competition pressures pricing and margins, while the energy transition may structurally reduce long-term demand. Workforce availability and technological disruption require continuous adaptation. The 25 oilfield services stocks we track reported a strong Q2. As a group, revenues beat analysts' consensus estimates by 4.6%. While some oilfield services stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2% since the latest earnings results. Deploying a fleet of 250 tethered underwater robots around the globe, Oceaneering International (NYSE:OII) provides remotely operated underwater vehicles and subsea equipment for offshore energy exploration. Oceaneering reported revenues of $768.2 million, up 10% year on year. This print exceeded analysts' expectations by 4.3%. Overall, it was an exceptional quarter for the company with a beat of analysts' EPS estimates and an impressive beat of analysts' EBITDA estimates. Investor expectations, however, were likely higher than Wall Street's published projections, leaving some wishing for even better results (analysts' consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 1.4% since reporting and currently trades at $44.37. Is now the time to buy Oceaneering? Access our full analysis of the earnings results here, it's free. Operating across 16 countries from Algeria to Indonesia, NESR (NASDAQ:NESR) provides oilfield services like hydraulic fracturing, cementing, and drilling to oil and gas companies. NESR reported revenues of $520.8 million, up 59.1% year on year…Read full documentShow less
Wrapping up Q2 earnings, we look at the numbers and key takeaways for the oilfield services stocks, including Oceaneering (NYSE:OII) and its peers. Oilfield services companies provide equipment, technology, and services enabling exploration and production activities, including drilling, completion, well intervention, and reservoir evaluation. Their fortunes closely track upstream capital spending cycles. Tailwinds include increased drilling activity during favorable commodity environments, demand for efficiency-enhancing technologies, and growing offshore and unconventional resource development. Headwinds include significant revenue volatility tied to oil and gas price swings and producer spending discipline. Intense competition pressures pricing and margins, while the energy transition may structurally reduce long-term demand. Workforce availability and technological disruption require continuous adaptation. The 25 oilfield services stocks we track reported a strong Q2. As a group, revenues beat analysts' consensus estimates by 4.6%. While some oilfield services stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2% since the latest earnings results. Deploying a fleet of 250 tethered underwater robots around the globe, Oceaneering International (NYSE:OII) provides remotely operated underwater vehicles and subsea equipment for offshore energy exploration. Oceaneering reported revenues of $768.2 million, up 10% year on year. This print exceeded analysts' expectations by 4.3%. Overall, it was an exceptional quarter for the company with a beat of analysts' EPS estimates and an impressive beat of analysts' EBITDA estimates. Investor expectations, however, were likely higher than Wall Street's published projections, leaving some wishing for even better results (analysts' consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 1.4% since reporting and currently trades at $44.37. Is now the time to buy Oceaneering? Access our full analysis of the earnings results here, it's free. Operating across 16 countries from Algeria to Indonesia, NESR (NASDAQ:NESR) provides oilfield services like hydraulic fracturing, cementing, and drilling to oil and gas companies. NESR reported revenues of $520.8 million, up 59.1% year on year, outperforming analysts' expectations by 17.8%. The business had an incredible quarter with a beat of analysts' EPS estimates and a solid beat of analysts' EBITDA estimates. NESR achieved the fastest revenue growth in the group. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 13.9% since reporting. It currently trades at $24.98. Is now the time to buy NESR? Access our full analysis of the earnings results here, it's free. Operating exclusively in the Permian Basin—one of America's most prolific oil-producing regions—ProPetro (NYSE:PUMP) provides hydraulic fracturing services that pump high-pressure fluid and sand into oil wells to release trapped hydrocarbons. ProPetro reported revenues of $305.8 million, down 6.2% year on year, falling short of analysts' expectations by 1.6%. It was a disappointing quarter as it posted a significant miss of analysts' EBITDA and EPS estimates. As expected, the stock is down 16.9% since the results and currently trades at $8.86. Read our full analysis of ProPetro's results here. With origins dating back over a century to 1921, Noble Corporation (NYSE:NE) operates drilling rigs that oil and gas companies charter to drill wells in deep ocean waters and shallow seas. Noble Corporation reported revenues of $719.7 million, down 15.2% year on year. This print topped analysts' expectations by 3.6%. Zooming out, it was a slower quarter as it produced a significant miss of analysts' EPS and EBITDA estimates. Noble Corporation had the slowest revenue growth among its peers. The stock is down 2.5% since reporting and currently trades at $42.05. Read our full, actionable report on Noble Corporation here, it's free. Operating across six continents with approximately 40,000 acres of mineral-rich brine leases in Arkansas, TETRA Technologies (NYSE:TTI) provides well completion fluids and water management services to oil and gas operators. TETRA Technologies reported revenues of $185.7 million, up 6.8% year on year. This number beat analysts' expectations by 4.9%. It was a very strong quarter as it also produced an impressive beat of analysts' EBITDA estimates and EPS in line with analysts' estimates. The stock is down 25.2% since reporting and currently trades at $5.84. Read our full, actionable report on TETRA Technologies here, it's free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market's biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market's primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market's dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
Related articleQuarter not tagged2026-09-23Oceaneering Schedules Third Quarter 2026 Earnings Release and Conference Call
Business Wire
Oceaneering Schedules Third Quarter 2026 Earnings Release and Conference Call
HOUSTON, September 23, 2026--(BUSINESS WIRE)--Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) will report its third quarter 2026 financial results on Wednesday, October 21, 2026, after the close of trading on the New York Stock Exchange. Oceaneering will host a conference call and webcast to discuss the results on Thursday, October 22, 2026, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). The earnings release and a link to the webcast will be posted on Oceaneering’s Investor Relations website. Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries. For more information, please visit oceaneering.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260923975546/en/ Contacts Hilary FrisbieSenior Director, Investor [email protected]
Related articleQuarter not tagged2026-08-28Core Laboratories (CLB) Up 18.7% Since Last Earnings Report: Can It Continue?
Zacks
Core Laboratories (CLB) Up 18.7% Since Last Earnings Report: Can It Continue?
A month has gone by since the last earnings report for Core Laboratories (CLB). Shares have added about 18.7% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Core Laboratories due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Core Laboratories Inc. before we dive into how investors and analysts have reacted as of late. Core Laboratories reported second-quarter 2026 adjusted earnings of 11 cents per share, which beat the Zacks Consensus Estimate of 8 cents, driven by outperformance of the Production Enhancement segment. However, the bottom line decreased from the year-ago quarter’s reported figure of 19 cents due to the underperformance of the Reservoir Description segment and increased costs and expenses. This oilfield service provider reported second-quarter operating revenues of $124.6 million, missing the Zacks Consensus Estimate of $128 million and decreasing from the earlier-year quarter’s reported figure of $130.1 million. This can be attributed to military conflicts in the Middle East and the Russia-Ukraine region, which disrupted energy infrastructure, delaying projects, disrupting crude oil trade and reducing demand for the company's international laboratory services. During the second quarter, CLB repurchased 214,712 shares of common stock for a total of $2.7 million. The company’s debt leverage ratio was at 1.30 and net debt decreased by $0.5 million. Reservoir Description: Revenues in this segment decreased 8.7% from the year-ago quarter to $78.7 million. The top line also missed our model estimation of $82 million. Operating income decreased from $12.2 million in the year-ago period to $3.7 million and missed our estimate of $6 million, caused by three primary factors: reduced client activity in the Middle East, lower global crude assay activity resulting from disruptions to hydrocarbon cargo shipments and increased military action and expanded European sanctions associated with the Russia-Ukraine conflict. Production Enhancement: This segment’s revenues increased 4.5% to $45.9 million from $43.9 million in the prior-year quarter. The top line also beat our model estimate of $45.6 million. Operating income increased from $3.1 million in the year-ago period to $5.2…Read full documentShow less
A month has gone by since the last earnings report for Core Laboratories (CLB). Shares have added about 18.7% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Core Laboratories due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Core Laboratories Inc. before we dive into how investors and analysts have reacted as of late. Core Laboratories reported second-quarter 2026 adjusted earnings of 11 cents per share, which beat the Zacks Consensus Estimate of 8 cents, driven by outperformance of the Production Enhancement segment. However, the bottom line decreased from the year-ago quarter’s reported figure of 19 cents due to the underperformance of the Reservoir Description segment and increased costs and expenses. This oilfield service provider reported second-quarter operating revenues of $124.6 million, missing the Zacks Consensus Estimate of $128 million and decreasing from the earlier-year quarter’s reported figure of $130.1 million. This can be attributed to military conflicts in the Middle East and the Russia-Ukraine region, which disrupted energy infrastructure, delaying projects, disrupting crude oil trade and reducing demand for the company's international laboratory services. During the second quarter, CLB repurchased 214,712 shares of common stock for a total of $2.7 million. The company’s debt leverage ratio was at 1.30 and net debt decreased by $0.5 million. Reservoir Description: Revenues in this segment decreased 8.7% from the year-ago quarter to $78.7 million. The top line also missed our model estimation of $82 million. Operating income decreased from $12.2 million in the year-ago period to $3.7 million and missed our estimate of $6 million, caused by three primary factors: reduced client activity in the Middle East, lower global crude assay activity resulting from disruptions to hydrocarbon cargo shipments and increased military action and expanded European sanctions associated with the Russia-Ukraine conflict. Production Enhancement: This segment’s revenues increased 4.5% to $45.9 million from $43.9 million in the prior-year quarter. The top line also beat our model estimate of $45.6 million. Operating income increased from $3.1 million in the year-ago period to $5.2 million and beat our model estimate of $2 million. The outperformance in the Production Enhancement segment can be attributed to improvement in U.S. completion activity and increased product sales in both the U.S. and international markets. CLB reported total costs and expenses of $115.5 million in the second quarter, increasing by 0.5% from the year-ago quarter’s level of $114.9 million. Our estimation for the metric was $118.6 million. As of June 30, 2026, the company had cash and cash equivalents of $22.7 million and long-term debt of $113.9 million. CLB’s debt-to-capitalization was about 29%. Net cash provided by operating activities in the second quarter totaled $7.8 million, while capital expenditure amounted to $4.7 million. This led to a positive free cash flow of $3.1 million. Core Laboratories’ board of directors approved a quarterly dividend of 1 cent per share to its common shareholders of record as of Aug. 10, 2026. The payout, which remains unchanged from the previous quarter, will be made on Aug. 31. Ongoing conflicts in the Middle East and Russia-Ukraine prompted the IEA, EIA and OPEC to lower their 2026 global oil demand forecasts due to higher energy prices, supply disruptions and trade constraints. However, all three agencies expect demand growth to recover in 2027. Core Laboratories believes the long-term need for new production and enhanced recovery remains intact, supported by declining output from mature fields, energy security concerns and diversified hydrocarbon supply. The company expects third-quarter revenues to rise sequentially, aided by improving activity in the South Atlantic Margin and Asia-Pacific, despite continued geopolitical disruptions affecting project execution and logistics. Modest improvement in U.S. land completions, growing adoption of its reservoir technologies and diagnostics, and expanding international offshore and exploration projects are expected to support long-term growth. For the third quarter of 2026, CLB expects revenues to range from $128.5 million to $135.5 million. Operating income is anticipated to be between $10.5 million and $15 million, with earnings per share expected to be between 12 cents and 20 cents. Revenues for the Reservoir Description segment are anticipated to be between $81 million and $84 million, with operating income ranging from $5.5 million to $7.9 million. Revenues for the Production Enhancement segment are expected to be between $47.5 million and $51.5 million, with operating income predicted to be between $4.8 million and $6.9 million. The company anticipates an effective tax rate of 25% for the third quarter. Its guidance for the third quarter of 2026 is based on estimates for underlying operations and excludes any gains or losses from foreign exchange. During the second quarter of 2026, Core Laboratories expanded its technology-driven reservoir evaluation and completion capabilities through several projects across Asia-Pacific, Africa and the Middle East. In Australia, the company deployed its Advanced Digital Imaging System (ADIS) to analyze reservoir rock samples for an onshore gas project, integrating the results into its proprietary RAPID™ database to accelerate reservoir interpretation. Offshore Namibia, CLB applied advanced laboratory technologies to characterize geological and petrophysical properties, supporting more accurate reservoir models and reducing exploration risk. The company also launched a reservoir characterization program for Murphy Oil's offshore Côte d’Ivoire discovery using its Dual Energy CT technology. In Asia-Pacific, Core Laboratories enabled a national oil company to establish in-house Tubing Conveyed Perforating capabilities through equipment supply and technical training. Additionally, regulatory approvals in the UAE for SpectraStim proppant tracing and SpectraScan spectral gamma ray logging broadened the company's reservoir optimization offerings, strengthening its position in a key Middle Eastern energy market. Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions. The consensus estimate has shifted -5.56% due to these changes. At this time, Core Laboratories has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock was allocated a score of C on the value side, putting it in the middle 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in. Core Laboratories has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Core Laboratories belongs to the Zacks Oil and Gas - Field Services industry. Another stock from the same industry, Oceaneering International (OII), has gained 7.5% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. Oceaneering International reported revenues of $768.18 million in the last reported quarter, representing a year-over-year change of +10%. EPS of $0.65 for the same period compares with $0.49 a year ago. For the current quarter, Oceaneering International is expected to post earnings of $0.58 per share, indicating a change of +5.5% from the year-ago quarter. The Zacks Consensus Estimate has changed +9.4% over the last 30 days. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for Oceaneering International. Also, the stock has a VGM Score of C. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Core Laboratories Inc. (CLB) : Free Stock Analysis Report Oceaneering International, Inc. (OII) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research
Related articleQuarter not tagged2026-08-21Why Is Oceaneering International (OII) Up 9.3% Since Last Earnings Report?
Zacks
Why Is Oceaneering International (OII) Up 9.3% Since Last Earnings Report?
It has been about a month since the last earnings report for Oceaneering International (OII). Shares have added about 9.3% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Oceaneering International due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Oceaneering International reported second-quarter 2026 earnings of 65 cents per share, up from 54 cents in the year-ago quarter. Higher year-over-year operating income from the company's Subsea Robotics, Manufactured Products, Offshore Projects Group and Aerospace and Defense Technologies segments contributed to this improvement. Total revenues were $768.2 million, increased approximately 10% from the year-ago quarter’s $698.2 million. This increase reflected revenue growth across all segments except Integrity Management & Digital Solutions. In the second quarter of 2026, the Houston, TX-based oil and gas equipment and services company reported adjusted EBITDA of $114.5 million, up 10.9% year over year. Operating income increased 11% year over year to $88.2 million. Gross margin expanded to $157 million from $148.4 million, reflecting revenue growth and improved performance across most operating segments. Subsea Robotics (SSR): The unit provides remotely operated submersible vehicles for drill support, vessel-based inspection, subsea hardware installation, pipeline surveys and maintenance services. Revenues totaled $232 million compared with the year-ago quarter’s $218.8 million. The segment also reported an operating income of $66.3 million compared with $64.5 million a year ago. The company's segment delivered an EBITDA margin of 35% in the second quarter of 2026, flat compared with the year-ago quarter. Revenue per day for remotely operated vehicles (“ROV”) rose to $11,894, while ROV fleet utilization slightly decreased to 66%. Manufactured Products: The segment focuses on the manufactured products business, theme park entertainment systems and automated guided vehicles. Revenues totaled $149 million compared with the year-ago quarter’s $145.1 million. The segment posted an operating profit of $21.9 million in the second quarter, up from the year-ago quarter’s $18.8 mill…Read full documentShow less
It has been about a month since the last earnings report for Oceaneering International (OII). Shares have added about 9.3% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Oceaneering International due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Oceaneering International reported second-quarter 2026 earnings of 65 cents per share, up from 54 cents in the year-ago quarter. Higher year-over-year operating income from the company's Subsea Robotics, Manufactured Products, Offshore Projects Group and Aerospace and Defense Technologies segments contributed to this improvement. Total revenues were $768.2 million, increased approximately 10% from the year-ago quarter’s $698.2 million. This increase reflected revenue growth across all segments except Integrity Management & Digital Solutions. In the second quarter of 2026, the Houston, TX-based oil and gas equipment and services company reported adjusted EBITDA of $114.5 million, up 10.9% year over year. Operating income increased 11% year over year to $88.2 million. Gross margin expanded to $157 million from $148.4 million, reflecting revenue growth and improved performance across most operating segments. Subsea Robotics (SSR): The unit provides remotely operated submersible vehicles for drill support, vessel-based inspection, subsea hardware installation, pipeline surveys and maintenance services. Revenues totaled $232 million compared with the year-ago quarter’s $218.8 million. The segment also reported an operating income of $66.3 million compared with $64.5 million a year ago. The company's segment delivered an EBITDA margin of 35% in the second quarter of 2026, flat compared with the year-ago quarter. Revenue per day for remotely operated vehicles (“ROV”) rose to $11,894, while ROV fleet utilization slightly decreased to 66%. Manufactured Products: The segment focuses on the manufactured products business, theme park entertainment systems and automated guided vehicles. Revenues totaled $149 million compared with the year-ago quarter’s $145.1 million. The segment posted an operating profit of $21.9 million in the second quarter, up from the year-ago quarter’s $18.8 million. The backlog totaled $445 million as of June 30, 2026, down 13.8% from the same time in 2025. For the 12 months ending June 30, 2026, the book-to-bill ratio was 0.88. Offshore Projects Group (OPG): This segment involves Oceaneering’s former Subsea Projects unit, excluding survey services and global data solutions, the service and rental business and ROV tooling. Revenues increased about 22.5% to $182.8 million from $149.3 million in the year-ago quarter. The unit’s operating income totaled $30 million compared with the prior-year quarter’s $21.7 million. The company’s operating income margin slightly increased to 16% from the prior-year quarter’s 15%, reflecting favorable project mix and disciplined execution. Integrity Management & Digital Solutions (IMDS): This segment covers Oceaneering’s Asset Integrity unit, along with its global data solutions business. Revenues of $70.8 million decreased from the year-ago quarter’s $75.4 million. Operating income decreased to $0.1 million from $4.6 million due to lower activity, weaker cost absorption and higher personnel-related costs in West Africa and the Middle East. Aerospace and Defense Technologies (ADTech): The segment is engaged in Oceaneering’s government business, which focuses on defense subsea technologies, marine services and space systems. Revenues totaled $133.5 million, up from $109.6 million recorded in the second quarter of 2025. The operating income increased to $16.4 million from $16.3 million in the year-ago quarter. Operating income margin decreased to 12% from 15% in the year-ago quarter due to program mix and timing. The capital expenditure in the second quarter, including acquisitions, totaled $30.8 million. As of June 30, 2026, OII had cash and cash equivalents worth $629.5 million and $688.9 million, respectively, along with a long-term debt of about $490.2 million. The debt-to-capitalization was 29.6%. The company repurchased 263,335 shares for approximately $10 million. OII also issued $500 million of senior notes due 2034 and increased its revolving credit commitments to $345 million from $215 million. The company expects consolidated revenues to increase in the third quarter of 2026, with EBITDA projected in the range of $115 million to $125 million. At the segment level, SSR is expected to post growth in both revenues and operating income. Manufactured Products is projected to witness slight declines in revenues and operating income. OPG is anticipated to deliver increases in both revenues and operating income. IMDS revenues are expected to increase, while operating income is likely to remain relatively flat. Meanwhile, ADTech is forecasted to report higher revenues and operating income. Unallocated expenses are expected to be in the $50 million range. Management expressed confidence in the company's outlook for the remainder of 2026, supported by strong first-half execution, healthy demand across most of its businesses and an improved financial position. The company expects offshore activity to continue strengthening, driven by higher rig utilization, longer-duration contracts and sustained demand for subsea services. Management also expects Subsea Robotics to benefit from higher ROV utilization and continued survey vessel activity, while the Manufactured Products backlog is anticipated to improve in the second half of 2026, supported by recent contract awards and additional opportunities in the sales pipeline. Despite ongoing uncertainty in the Middle East and lower activity in West Africa affecting the IMDS business, management believes the performance of its other operating segments remains in line with or ahead of prior expectations. The company updated its full-year 2026 consolidated adjusted EBITDA outlook to a range of $400 million to $440 million. OII retained its previously issued consolidated and segment guidance, except that IMDS operating income is now expected to decline significantly, with the operating income margin projected to be in the low-single-digit percentage range. In the past month, investors have witnessed a upward trend in estimates revision. The consensus estimate has shifted 9.43% due to these changes. At this time, Oceaneering International has a average Growth Score of C, however its Momentum Score is doing a bit better with a B. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for value investors. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been trending upward for the stock, and the magnitude of this revision looks promising. It comes with little surprise Oceaneering International has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months. Oceaneering International belongs to the Zacks Oil and Gas - Field Services industry. Another stock from the same industry, Weatherford (WFRD), has gained 6.6% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. Weatherford reported revenues of $1.11 billion in the last reported quarter, representing a year-over-year change of -8.2%. EPS of $0.55 for the same period compares with $1.87 a year ago. For the current quarter, Weatherford is expected to post earnings of $1.20 per share, indicating a change of +7.1% from the year-ago quarter. The Zacks Consensus Estimate has changed -11.6% over the last 30 days. Weatherford has a Zacks Rank #5 (Strong Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oceaneering International, Inc. (OII) : Free Stock Analysis Report Weatherford International PLC (WFRD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research
Related articleQuarter not tagged2026-08-19How Investors May Respond To Oceaneering International (OII) Upbeat Earnings Revisions And Analyst Confidence
Simply Wall St.
How Investors May Respond To Oceaneering International (OII) Upbeat Earnings Revisions And Analyst Confidence
Recently, analysts raised their full-year earnings estimates for Oceaneering International and maintained a favorable Zacks Rank #2 (Buy), reflecting stronger confidence in the company’s profit outlook. This wave of upward revisions, alongside Oceaneering’s outperformance versus other Oils-Energy names, suggests analysts see the company executing well across its core businesses. Now we’ll examine how this improved earnings outlook and analyst sentiment could influence Oceaneering International’s existing investment narrative. Find 50 companies with promising cash flow potential yet trading below their fair value. To own Oceaneering International, you need to believe its mix of subsea energy, robotics, and aerospace and defense can keep generating healthy profits despite cyclicality in offshore spending. The most important near term catalyst remains execution across these core businesses, while a key risk is any reversal in earnings momentum after a very strong run. The recent wave of upward estimate revisions and price gains reinforces the bullish side of that story, but does not remove the execution risk. The Q2 2026 results and updated full year earnings estimates are especially relevant here. Oceaneering reported higher year on year sales and net income in the quarter, and analysts have lifted the full year consensus by about 11 percent. That earnings upgrade cycle sits alongside strong recent share performance and appears to be one reason Oceaneering now screens well on momentum metrics, which can amplify both upside and downside if sentiment shifts. Yet, even with the upgraded earnings outlook, one risk investors should be aware of is how quickly sentiment could turn if... Read the full narrative on Oceaneering International (it's free!) Oceaneering International's narrative projects $3.4 billion revenue and $103.3 million earnings by 2029. This requires 6.0% yearly revenue growth and a $246.8 million earnings decrease from $350.1 million today. Uncover how Oceaneering International's forecasts yield a $40.25 fair value, a 24% downside to its current price. Some of the lowest ranked analysts were assuming revenue growth of only about 3.9 percent and earnings falling to around US$79.9 million, so their far more pessimistic view on Oceaneering’s future profitability could shift meaningfully as the new estimate upgrades and strong recent results are factor…Read full documentShow less
Recently, analysts raised their full-year earnings estimates for Oceaneering International and maintained a favorable Zacks Rank #2 (Buy), reflecting stronger confidence in the company’s profit outlook. This wave of upward revisions, alongside Oceaneering’s outperformance versus other Oils-Energy names, suggests analysts see the company executing well across its core businesses. Now we’ll examine how this improved earnings outlook and analyst sentiment could influence Oceaneering International’s existing investment narrative. Find 50 companies with promising cash flow potential yet trading below their fair value. To own Oceaneering International, you need to believe its mix of subsea energy, robotics, and aerospace and defense can keep generating healthy profits despite cyclicality in offshore spending. The most important near term catalyst remains execution across these core businesses, while a key risk is any reversal in earnings momentum after a very strong run. The recent wave of upward estimate revisions and price gains reinforces the bullish side of that story, but does not remove the execution risk. The Q2 2026 results and updated full year earnings estimates are especially relevant here. Oceaneering reported higher year on year sales and net income in the quarter, and analysts have lifted the full year consensus by about 11 percent. That earnings upgrade cycle sits alongside strong recent share performance and appears to be one reason Oceaneering now screens well on momentum metrics, which can amplify both upside and downside if sentiment shifts. Yet, even with the upgraded earnings outlook, one risk investors should be aware of is how quickly sentiment could turn if... Read the full narrative on Oceaneering International (it's free!) Oceaneering International's narrative projects $3.4 billion revenue and $103.3 million earnings by 2029. This requires 6.0% yearly revenue growth and a $246.8 million earnings decrease from $350.1 million today. Uncover how Oceaneering International's forecasts yield a $40.25 fair value, a 24% downside to its current price. Some of the lowest ranked analysts were assuming revenue growth of only about 3.9 percent and earnings falling to around US$79.9 million, so their far more pessimistic view on Oceaneering’s future profitability could shift meaningfully as the new estimate upgrades and strong recent results are factored in. Explore 5 other fair value estimates on Oceaneering International - why the stock might be worth as much as $52.24! Don't just follow the ticker - dig into the data and build a conviction that's truly your own. A great starting point for your Oceaneering International research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision. Our free Oceaneering International research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Oceaneering International's overall financial health at a glance. Don't miss your shot at the next 10-bagger. Our latest stock picks just dropped: Capitalize on the AI infrastructure supercycle with our selection of the 56 best 'picks and shovels' of the AI gold rush converting record-breaking demand into massive cash flow. We've uncovered the 11 dividend fortresses yielding 5%+ that don't just survive market storms, but thrive in them. The future of work is here. Discover the 37 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include OII. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]
Related articleQuarter not tagged2026-08-17Earnings Estimates Moving Higher for Oceaneering International (OII): Time to Buy?
Zacks
Earnings Estimates Moving Higher for Oceaneering International (OII): Time to Buy?
Investors might want to bet on Oceaneering International (OII), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook. Analysts' growing optimism on the earnings prospects of this oilfield services company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- has this insight at its core. The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. For Oceaneering International, strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year. The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate: The company is expected to earn $0.58 per share for the current quarter, which represents a year-over-year change of +5.5%. Over the last 30 days, one estimate has moved higher for Oceaneering International compared to no negative revisions. As a result, the Zacks Consensus Estimate has increased 9.43%. For the full year, the company is expected to earn $2.10 per share, representing a year-over-year change of +8.8%. In terms of estimate revisions, the trend for the current year also appears quite encouraging for Oceaneering International. Over the past month, one estimate has moved higher compared to no negative revisions, helping the consensus estimate increase 11.11%. Thanks to promising estimate revisions, Oceaneering International currently carries a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500. Investors have been bettin…Read full documentShow less
Investors might want to bet on Oceaneering International (OII), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook. Analysts' growing optimism on the earnings prospects of this oilfield services company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- has this insight at its core. The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. For Oceaneering International, strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year. The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate: The company is expected to earn $0.58 per share for the current quarter, which represents a year-over-year change of +5.5%. Over the last 30 days, one estimate has moved higher for Oceaneering International compared to no negative revisions. As a result, the Zacks Consensus Estimate has increased 9.43%. For the full year, the company is expected to earn $2.10 per share, representing a year-over-year change of +8.8%. In terms of estimate revisions, the trend for the current year also appears quite encouraging for Oceaneering International. Over the past month, one estimate has moved higher compared to no negative revisions, helping the consensus estimate increase 11.11%. Thanks to promising estimate revisions, Oceaneering International currently carries a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500. Investors have been betting on Oceaneering International because of its solid estimate revisions, as evident from the stock's 23.5% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oceaneering International, Inc. (OII) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research
Related articleQuarter not tagged2026-08-13Solaris Energy Q2 Earnings Beat Estimates on Power Solutions Growth
Zacks
Solaris Energy Q2 Earnings Beat Estimates on Power Solutions Growth
Solaris Energy Infrastructure, Inc. SEI reported second-quarter 2026 adjusted earnings of 39 cents per share, up 14.7% year over year, and beat the Zacks Consensus Estimate of 31 cents by 25.81%. The outperformance was driven by the exceptional results of the Power Solutions segment. Revenues of $219 million increased 47% year over year and topped the consensus estimate of $198 million by 10.78%, driven by higher leasing and service revenues. The company’s leasing and service revenues increased 70.8% and 30% year over year, respectively. Solaris Energy Infrastructure, Inc. price-consensus-eps-surprise-chart | Solaris Energy Infrastructure, Inc. Quote Net income reported by SEI was $25.2 million in the quarter. On a non-GAAP basis, adjusted EBITDA was $108.3 million, up from $60.6 million in the year-ago period, driven primarily by higher Power Solutions activity levels and a lift in Logistics profitability. On Aug. 4, 2026, the company’s board of directors approved a third-quarter 2026 dividend of 12 cents per share, payable on Sept. 25 to its shareholders of record as of Sept. 15. Solaris Power Solutions:Power Solutions revenues increased to $158.3 million compared with $75.6 million in the year-ago period. Capacity earning revenues in the segment averaged 950 MW during the quarter. Adjusted EBITDA from the segment increased to $96.4 million, driven by increased ancillary service revenues. Solaris Logistics Solutions: Logistics Solutions delivered revenues of $61 million, decreasing 17.2% from the year-ago period. Adjusted EBITDA from the segment increased year over year to $24.7 million, driven by increased system activity and a more favorable project mix. Solaris Energy expanded three long-term contracts that are expected to add more than $100 million of annual adjusted EBITDA. The expanded Hatchbo agreement now covers a turnkey, roughly 660-MW power plant, including balance-of-plant equipment, batteries and operating services. The contract term was extended to as long as 18 years, and revenues are expected to begin in January 2027. SEI also broadened the scope of its April 2026 agreement with a global technology customer to include balance of plant, energy storage and natural gas procurement and management. Separately, a large energy customer increased contracted microgrid capacity to about 80 MW from 60 MW and extended the agreement to six years from fo…Read full documentShow less
Solaris Energy Infrastructure, Inc. SEI reported second-quarter 2026 adjusted earnings of 39 cents per share, up 14.7% year over year, and beat the Zacks Consensus Estimate of 31 cents by 25.81%. The outperformance was driven by the exceptional results of the Power Solutions segment. Revenues of $219 million increased 47% year over year and topped the consensus estimate of $198 million by 10.78%, driven by higher leasing and service revenues. The company’s leasing and service revenues increased 70.8% and 30% year over year, respectively. Solaris Energy Infrastructure, Inc. price-consensus-eps-surprise-chart | Solaris Energy Infrastructure, Inc. Quote Net income reported by SEI was $25.2 million in the quarter. On a non-GAAP basis, adjusted EBITDA was $108.3 million, up from $60.6 million in the year-ago period, driven primarily by higher Power Solutions activity levels and a lift in Logistics profitability. On Aug. 4, 2026, the company’s board of directors approved a third-quarter 2026 dividend of 12 cents per share, payable on Sept. 25 to its shareholders of record as of Sept. 15. Solaris Power Solutions:Power Solutions revenues increased to $158.3 million compared with $75.6 million in the year-ago period. Capacity earning revenues in the segment averaged 950 MW during the quarter. Adjusted EBITDA from the segment increased to $96.4 million, driven by increased ancillary service revenues. Solaris Logistics Solutions: Logistics Solutions delivered revenues of $61 million, decreasing 17.2% from the year-ago period. Adjusted EBITDA from the segment increased year over year to $24.7 million, driven by increased system activity and a more favorable project mix. Solaris Energy expanded three long-term contracts that are expected to add more than $100 million of annual adjusted EBITDA. The expanded Hatchbo agreement now covers a turnkey, roughly 660-MW power plant, including balance-of-plant equipment, batteries and operating services. The contract term was extended to as long as 18 years, and revenues are expected to begin in January 2027. SEI also broadened the scope of its April 2026 agreement with a global technology customer to include balance of plant, energy storage and natural gas procurement and management. Separately, a large energy customer increased contracted microgrid capacity to about 80 MW from 60 MW and extended the agreement to six years from four years. The acquisition of Global Energy Services Alliance, or GESA, expands SEI’s installation, commissioning, operations, maintenance and aftermarket capabilities. GESA added more than 600 skilled employees and brings project experience spanning more than 30 countries. Management sees the acquisition as a way to improve project execution while expanding third-party service opportunities. Solaris Energy also has approximately 800 MW of open capacity with relatively near-term delivery timelines and said it is in advanced discussions with multiple customers regarding long-term deployments. For the third quarter of 2026, the Zacks Rank #5 (Strong Sell) company raised adjusted EBITDA guidance to $90-$105 million from $80-$95 million previously, and established fourth-quarter adjusted EBITDA guidance of $100-$120 million. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. At quarter-end, Cash and cash equivalents attributable to Solaris Energy were $888.5 million, while long-term debt attributable to SEI (net of current portion) was $1.6 billion, with a debt-to-capitalization of 58%. During the quarter, the company completed an inaugural $1.3 billion senior, unsecured notes offering and secured a new, undrawn $650 million credit facility. While we have discussed SEI’s second-quarter results in detail, let’s see how some other oilfield service companies have fared this earnings season. NOV Inc. NOV reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment. The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment. As of June 30, 2026, the backlog for Energy Equipment capital orders was $4.1 billion, reflecting a $220 million decrease from the prior year. Liberty Energy Inc. LBRT reported a second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents. The outperformance was driven by the company’s focus on AI-driven technology advancements and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 12 cents due to increased year-over-year costs and expenses. LBRT's revenues totaled $1.2 billion, which beat the Zacks Consensus Estimate of $1.1 billion. The top line also increased from the prior-year quarter’s $1 billion by 14%, supported by record utilization and a modest pricing uplift along with higher product sales. As of June 30, Liberty Energy had approximately $555.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $1.3 billion represented a debt-to-capitalization of 39.5%. Further, the company’s total liquidity, including availability under the credit facility, amounted to $1 billion. Oceaneering International, Inc. OII reported second-quarter 2026 earnings of 65 cents per share, up from 54 cents in the year-ago quarter. Higher year-over-year operating income from the company's Subsea Robotics, Manufactured Products, Offshore Projects Group and Aerospace and Defense Technologies segments contributed to this improvement. Total revenues of $768.2 million increased approximately 10% from the year-ago quarter’s $698.2 million. This increase reflected revenue growth across all segments except Integrity Management & Digital Solutions. As of June 30, 2026, OII had cash and cash equivalents worth $629.5 million and $688.9 million, respectively, along with a long-term debt of about $490.2 million. The debt-to-capitalization was 29.6%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Solaris Energy Infrastructure, Inc. (SEI) : Free Stock Analysis Report NOV Inc. (NOV) : Free Stock Analysis Report Oceaneering International, Inc. (OII) : Free Stock Analysis Report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research
Related articleQuarter not tagged2026-08-11Oceaneering Announces Participation at Third Quarter 2026 Investor Conferences
Business Wire
Oceaneering Announces Participation at Third Quarter 2026 Investor Conferences
HOUSTON, August 11, 2026--(BUSINESS WIRE)--Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) announced its participation at upcoming investor conferences during the third quarter of 2026. Barclays Energy-Power ConferenceNew York, NY - September 9, 2026Rod Larson, President and Chief Executive Officer, will participate in a panel discussion. Mr. Larson, Mike Sumruld, Chief Financial Officer, and Hilary Frisbie, Senior Director of Investor Relations, will meet with institutional investors. Gabelli Aerospace & Defense SymposiumNew York, NY – September 10, 2026Mr. Larson will present on Oceaneering’s Aerospace and Defense Technologies segment. Mr. Larson, Mr. Sumruld, and Ms. Frisbie will meet with institutional investors. TD Cowen Energy ConferenceAustin, TX – September 24, 2026Mr. Sumruld and Ms. Frisbie will meet with institutional investors. PEP Energy ConferenceAustin, TX – September 29, 2026Mr. Sumruld and Ms. Frisbie will meet with institutional investors. Oceaneering’s most recent presentation is available on its Investor Relations site. Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries. For more information, please visit www.oceaneering.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260811894469/en/ Contacts Hilary FrisbieSenior Director, Investor [email protected]
Related articleQuarter not tagged2026-07-25Oceaneering International (OII) Stock Trades At A Premium On Cash Flow And Earnings
Simply Wall St.
Oceaneering International (OII) Stock Trades At A Premium On Cash Flow And Earnings
Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. Oceaneering International stock has logged a very strong five year return, yet the current valuation checks and intrinsic value estimate both point to the shares trading at a premium rather than as an obvious bargain. Over the past 5 years, Oceaneering International has returned about 298%, which puts extra focus on whether the current price still leaves room for an attractive risk adjusted outcome. New contract wins in energy and defense, including work on extra large uncrewed undersea vehicles, can support expectations for future cash flows. However, execution risks in weaker segments may weigh on how much investors are willing to pay for that growth. The company scores 2 of 6 on Simply Wall St's broader valuation checks. This means it leans expensive rather than standing out as a clear bargain overall, as shown in 2 of 6 valuation checks. The issue now is whether Oceaneering International's recent gains leave investors paying too much compared with its intrinsic value and earnings based valuation markers. Oceaneering International delivered 132.6% returns over the last year. See how this stacks up to the rest of the Energy Services industry. The Discounted Cash Flow (DCF) model here links Oceaneering International’s value to the cash it is expected to generate for shareholders. On this view, the company’s latest twelve month free cash flow sits at about $231.7 million, with the projection set assuming cash flows trend down modestly from current levels rather than rising sharply. Putting those cash flows into a 2 Stage Free Cash Flow to Equity model gives an estimated intrinsic value of about $39 per share, which sits below the current market price and implies the stock is overvalued by roughly 35%. The recent Q2 2026 earnings beat and new contract wins in energy and defense, including work on extra large uncrewed undersea vehicles, help explain why investors appear willing to pay above what this cash flow model suggests. On this DCF view, Oceaneering International stock currently screens as overvalued relative to its modeled cash flows. Our Discounted Cash Flow (DCF) analysis suggests Oceaneering International may be overvalued by 35.1%. Discover 49 high quality undervalued stocks or create your own screener to find better value opportun…Read full documentShow less
Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. Oceaneering International stock has logged a very strong five year return, yet the current valuation checks and intrinsic value estimate both point to the shares trading at a premium rather than as an obvious bargain. Over the past 5 years, Oceaneering International has returned about 298%, which puts extra focus on whether the current price still leaves room for an attractive risk adjusted outcome. New contract wins in energy and defense, including work on extra large uncrewed undersea vehicles, can support expectations for future cash flows. However, execution risks in weaker segments may weigh on how much investors are willing to pay for that growth. The company scores 2 of 6 on Simply Wall St's broader valuation checks. This means it leans expensive rather than standing out as a clear bargain overall, as shown in 2 of 6 valuation checks. The issue now is whether Oceaneering International's recent gains leave investors paying too much compared with its intrinsic value and earnings based valuation markers. Oceaneering International delivered 132.6% returns over the last year. See how this stacks up to the rest of the Energy Services industry. The Discounted Cash Flow (DCF) model here links Oceaneering International’s value to the cash it is expected to generate for shareholders. On this view, the company’s latest twelve month free cash flow sits at about $231.7 million, with the projection set assuming cash flows trend down modestly from current levels rather than rising sharply. Putting those cash flows into a 2 Stage Free Cash Flow to Equity model gives an estimated intrinsic value of about $39 per share, which sits below the current market price and implies the stock is overvalued by roughly 35%. The recent Q2 2026 earnings beat and new contract wins in energy and defense, including work on extra large uncrewed undersea vehicles, help explain why investors appear willing to pay above what this cash flow model suggests. On this DCF view, Oceaneering International stock currently screens as overvalued relative to its modeled cash flows. Our Discounted Cash Flow (DCF) analysis suggests Oceaneering International may be overvalued by 35.1%. Discover 49 high quality undervalued stocks or create your own screener to find better value opportunities. Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Oceaneering International. The P/E ratio is a useful way to think about what you are paying today for each dollar of Oceaneering International’s earnings. For this stock, that lens helps you compare the recent share price move with how the market values other energy services companies. Oceaneering International currently trades on a P/E of about 15.0x, which sits well below the Energy Services industry average of roughly 28.3x and a peer average of around 29.8x. However, a more tailored fair P/E ratio for the company, which factors in its risk profile, margins, size and sector, is estimated at only about 5.2x. In other words, the current earnings multiple is close to three times higher than this fair benchmark, so investors are paying a rich price for each dollar of earnings even though the company’s valuation checks already lean expensive. On this P/E yardstick, Oceaneering International stock appears overvalued relative to the earnings multiple the model suggests is reasonable. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives for Oceaneering International pick up where this valuation puzzle leaves off by spelling out which combinations of future growth, margins and earnings would make the stock look meaningfully cheaper or more expensive than it does today, based on different fair value frameworks. Rather than relying on a single multiple or model output, each Narrative lays out the assumptions behind its fair value so you can compare them with Oceaneering International's actual results as they are reported, and they are available on Simply Wall St's Community page. One of the top community narratives on Oceaneering International: 32% overvalued Read one of the top narratives on Oceaneering International Do you think there's more to the story for Oceaneering International? Head over to our Community to see what others are saying! For Oceaneering International, both the Discounted Cash Flow (DCF) intrinsic value estimate and the earnings multiple framework point to the stock trading as overvalued, rather than as a clear opportunity for value focused investors. The broader valuation checks are also weak, which reinforces that message instead of offsetting it. From here, the key question is whether Oceaneering International can deliver cash flows and earnings that catch up to the current price, or whether expectations need to cool and the valuation multiple settle closer to its fair benchmark. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include OII. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]