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OII News
OII Events
Q3 2026 Revenue Expected to Increase, EBITDA Between $115M and $125M
Consolidated third quarter 2026 revenue is projected to increase and EBITDA is expected to be in the range of $115 million to $125 million.
Oceaneering Reports Q2 Revenue of $768M, Beating Expectations
Reports Q2 revenue $768M, consensus $734.78M. Rod Larson, Oceaneering's President and Chief Executive Officer, commented, "We delivered a strong second quarter, with our consolidated adjusted EBITDA of $115 million exceeding the top end of our guidance. These positive results were driven by overperformance from our Offshore Projects Group (OPG), where favorable project mix and operational execution drove better-than-expected revenue and profitability. More broadly, our results demonstrate continued strength across our portfolio. All of our segments generated increased revenue and operating income, except for Integrity Management and Digital Solutions (IMDS), which was partially impacted by the ongoing Middle East conflict."
Kongsberg and Oceaneering Selected by U.S. Defense Innovation Unit
Kongsberg and Oceaneering announced their selection by the U.S. Department of War's Defense Innovation Unit, or DIU, to support the Combat Autonomous Maritime Platform, or CAMP, program, focused on the development of an Extra-Large Uncrewed Undersea Vehicle for future U.S. Navy missions. The CAMP program accelerates the transition of mature commercial and defense technologies into operational naval capabilities. This collaboration will focus on concept definition, system architecture, and design trade studies, emphasizing modularity, interoperability, and rapid integration. The design is expected to be delivered in the third quarter of this year.
Oceaneering International Prices $500 Million 6.875% Senior Notes Offering
Oceaneering International announced the pricing of its previously announced offering of $500,000,000 aggregate principal amount of 6.875% Senior Notes due 2034 in a private placement to eligible purchasers at par, plus accrued interest, if any, from July 6. The 2034 Notes will mature on July 15, 2034. The offering is expected to close on July 6, subject to customary closing conditions. Oceaneering intends to use the net proceeds from the offering, together with cash on hand, if necessary, to fund the purchase of any and all of its 6.000% Senior Notes due 2028 validly tendered and accepted for purchase in the previously announced concurrent cash tender offer. If the Tender Offer is not consummated or the net proceeds from the offering exceed the total consideration payable in the Tender Offer, Oceaneering intends to use the remaining net proceeds from the offering for general corporate purposes.
Oceaneering Awarded Contract for West Delta Deep Marine Project in Egypt
Oceaneering's Offshore Projects Group has been awarded an integrated offshore installation contract at the West Delta Deep Marine gas field development project offshore Egypt from Burullus Gas Company. The contract is expected to generate meaningful revenue in 2026. Under the scope of work, Oceaneering will provide an integrated solution to support the transportation, offshore installation, and commissioning of a refurbished subsea umbilical and a 2,000-meter replacement thermoplastic composite pipe flowline. Work to refurbish the umbilical was carried out at Oceaneering's umbilical manufacturing facility in Rosyth, UK.
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