Quarterly ResultApr 22, 2026, 05:06 PM
Oceaneering Q1 2026 Revenue Up 3% to $692M; Net Income Down 28%
AI Summary
Oceaneering International reported mixed first-quarter 2026 results, with revenue increasing 3% to $692 million, but net income falling 28% to $36.1 million and adjusted EBITDA decreasing 13% to $83.7 million. The company experienced strong activity in Aerospace and Defense Technologies (ADTech) and generated approximately $1 billion in total orders. Despite negative cash flow from operations, management maintained its full-year EBITDA guidance of $390 million to $440 million, anticipating improved offshore activity in the second half of 2026.
Key Highlights
- Revenue increased 3% to $692 million in Q1 2026.
- Net income decreased 28% to $36.1 million.
- Adjusted EBITDA decreased 13% to $83.7 million.
- Cash flow used in operating activities was $(59.1) million.
- Total orders were approximately $1 billion, including $300M in Subsea Robotics.