Oceaneering 10-Q Details $19M Refinancing Charge and $735M Cash Pile Behind Q3 EPS of $0.52
OII sits 65% above its 52-week low of $22.13 on elevated volume (3.8× avg).
Summary
Oceaneering's Q3 10-Q confirms the $52.6 million profit already reported, with $735 million of cash and $159 million of nine-month operating cash flow, partly offset by a $19 million debt-refinancing charge and a backlog decline in Manufactured Products.
Key Events · Earnings and Guidance · OII
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Q3 Profit Confirmed at $52.6M
Revenue of $784.6 million produced net income of $52.6 million, or $0.52 diluted EPS, versus $71.3 million and $0.71 a year earlier.
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$19M Refinancing Charge Hits Earnings
Loss on extinguishment of debt of $19.0 million includes a $1.9 million make-whole premium, $7.3 million of tender costs and a $9.8 million write-off of unamortized discount and issuance costs from retiring the 2028 notes.
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Cash Builds to $735M
Cash and cash equivalents reached $734.9 million at September 30 from $688.9 million at December 31, with nine-month operating cash flow of $159.1 million versus $97.7 million a year earlier.
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Manufactured Products Backlog Slips
Backlog fell to $435 million from $568 million a year earlier and the trailing-12-month book-to-bill was 0.77 versus 0.82, reflecting the timing of awards.
Analysis · OII · Energy & Transportation
The headline numbers were already out on October 21, but the full 10-Q shows what sits underneath them. Cash rose to $735 million from $689 million at year-end and nine-month operating cash flow jumped to $159 million from $98 million, so the balance sheet is funding itself. The offset is a $19 million non-cash-ish charge from the July refinancing that pushed net income down to $52.6 million from $71.3 million a year ago, and a Manufactured Products backlog that fell to $435 million from $568 million, which points to softer order intake in that segment. Liquidity is not the issue here; order flow is.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 29.3% of the 1526 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.41%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, OII was trading at $36.62 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $22.13 to $54.25. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.