Oceaneering Q2 Earnings Beat, Raises Full-Year EBITDA Guidance to $400M-$440M
OII has more than doubled off its 52-week low of $20.72.
Summary
Oceaneering reported Q2 2026 earnings that beat expectations, with adjusted EBITDA of $115M, and raised its full-year EBITDA guidance to $400M–$440M. Revenue rose 10% YoY to $768M, and net income increased 19% to $65M.
Key Events · Earnings and Guidance · OII
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Q2 Earnings Beat
Adjusted EBITDA of $115M exceeded the top end of guidance. Revenue rose 10% YoY to $768M, and net income increased 19% to $65.0M.
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Full-Year Guidance Raised
2026 adjusted EBITDA guidance raised to $400M–$440M, up from prior implied range, driven by strong first-half performance and favorable offshore and defense trends.
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Strong Balance Sheet
Quarter-end cash and equivalents of $629M, up from $434M a year ago. The company also repurchased 263,335 shares for approximately $10M.
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Q3 2026 Outlook
Q3 2026 EBITDA expected between $115M and $125M, with revenue projected to increase year-over-year across most segments.
Analysis · OII · Energy & Transportation
A strong second quarter saw adjusted EBITDA of $115 million, topping the high end of guidance. Revenue climbed 10% year-over-year to $768 million, while net income surged 19% to $65 million. Reflecting confidence in sustained offshore and defense demand, the company lifted its full-year 2026 adjusted EBITDA outlook to $400–$440 million. The balance sheet remains robust with $629 million in cash, and $10 million in shares were repurchased. Coming on the heels of a major debt refinancing completed earlier this month, this earnings beat and guidance raise underscore improving financial health and operational momentum.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 36.3% of the 1072 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, OII was trading at $47.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.5B. The 52-week trading range was $20.72 to $45.91. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.