OCEANEERING INTERNATIONAL INC

Oceaneering International, Inc. announced an amendment to its senior secured revolving credit facility, increasing commitments from $215 million to $345 million and extending the maturity date from April 2027 to July 2031. This amendment also reduced the applicable margin on loans. Concurrently, the company completed a private placement of $500 million aggregate principal amount of 6.875% Senior Notes due 2034, enhancing its financial flexibility.

Oceaneering International, Inc. announced the pricing of a private offering of $500 million in 6.875% Senior Notes due 2034. The offering is expected to close on July 6, 2026. The company intends to use the net proceeds, along with cash on hand, to fund the purchase of its 6.000% Senior Notes due 2028 through a tender offer, with any remaining proceeds allocated to general corporate purposes, including further debt repayment.

Oceaneering International, Inc. announced a private offering of $500 million aggregate principal amount of Senior Notes due 2034. The company intends to use the net proceeds primarily to fund a concurrent cash tender offer for any and all of its outstanding $500 million 6.000% Senior Notes due 2028. Additionally, Oceaneering is in advanced discussions to amend its senior secured revolving credit facility, aiming to increase commitments from $215 million to up to $345 million and extend the maturity date from 2027 to 2031.

Oceaneering International announced that an investor handout, intended for use during institutional investor meetings, will be made available for public viewing and download. The handout will be accessible on the Investor Relations page of the company's website, www.oceaneering.com, starting May 5, 2026, after market close. This disclosure is made under Regulation FD.

Oceaneering International, Inc. filed its Form 10-Q for the quarter ended March 31, 2026. The company reported a decrease in cash and cash equivalents to $607.47 million from $688.87 million at the end of 2025. Concurrently, accounts receivable increased to $371.85 million, and total current assets saw a slight rise to $1.52 billion.

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.