Quarterly ResultOct 21, 2026, 05:06 PM
Oceaneering Q3 Revenue $785M (+6% YoY); Net Income Down 26%
AI Summary
Oceaneering International reported third quarter 2026 results, with revenue increasing 6% to $785 million and operating income up 7% to $92.2 million. However, net income attributable to Oceaneering decreased 26% to $52.6 million. The company generated strong free cash flow of $142 million and provided initial full-year 2027 EBITDA guidance of $430 million to $480 million. Key segments like Subsea Robotics and Manufactured Products showed revenue growth, while ADTech also saw an increase.
Key Highlights
- Oceaneering reported Q3 2026 revenue of $785 million, a 6% increase year-over-year.
- Operating income increased 7% to $92.2 million, while net income decreased 26% to $52.6 million.
- Adjusted EBITDA rose 7% to $119 million.
- Cash flow from operations was $163 million; free cash flow was $142 million.
- Subsea Robotics (SSR) revenue increased to $233 million with operating income up 16% to $75.4 million.
- Manufactured Products revenue increased 8% to $168 million; backlog stands at $435 million.
- Aerospace and Defense Technologies (ADTech) revenue increased 7% to $135 million.
- Company initiated full-year 2027 EBITDA guidance of $430 million to $480 million.
Price Impact
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