Oceaneering raises full-year 2026 adj EBITDA guidance to $400 mln-$440 mln
Company sees Q3 2026 EBITDA between $115 mln and $125 mln
IMDS operating income margin expected in low-single-digit percentage for full-year 2026
Overview
Offshore robotics and services firm's Q2 revenue rose 10%, beating analyst expectations
Q2 adjusted EBITDA rose 11% and beat analyst expectations
Company says Offshore Projects Group drove results; IMDS segment impacted by Middle East conflict
Key details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$768 mln
$734.78 mln (3 Analysts)
Q2 EPS
$0.65
Q2 Net Income
$65 mln
Q2 Adjusted EBITDA
Beat
$115 mln
$103.95 mln (3 Analysts)
Q2 Operating Income
$88.24 mln
Result drivers
Offshore Projects Group (OPG) - OPG segment outperformed, with favorable project mix and operational execution driving higher revenue and profitability
- Higher ROV revenue per day and increased survey activity contributed to SSR revenue growth, despite slightly lower fleet utilization
Manufactured Products - Improved profitability in umbilicals business and mobility solutions drove higher operating income and margin expansion
Analyst coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy," 3 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy"
Wall Street's median 12-month price target for Oceaneering International Inc is $37.50, about 16% below its July 21 closing price of $44.65
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 19 three months ago
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