Oceaneering Q2 FY26 net income rises 19% to $65 million; revenue increases 10% to $768 million
OII•Balance sheet and share repurchases
Cash and cash equivalents totaled $629 million at quarter-end; the company repurchased 263,335 shares for about $10 million.
Guidance updated for full year and Q3
Full-year adjusted EBITDA (non-GAAP) guidance was updated to $400 million-$440 million; Q3 EBITDA is forecast at $115 million-$125 million.
Q2 revenue, income and cash flow rise
Oceaneering posted Q2 2026 revenue up 10% to $768 million from a year earlier; operating income rose 11% to $88.2 million.
Net income attributable to shareholders climbed 19% to $65 million; diluted EPS increased to $0.65.
Adjusted EBITDA (non-GAAP) rose 11% to $115 million; free cash flow was $32 million, with operating cash flow at $55.2 million.
