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AI brief of an SEC Form 8-K · Oceaneering International (OII)

Oceaneering Q2 net income rises to $35.0 million, or $0.34 a share, from $0.19

Positive Impact 3 of 5 earnings Written later

Oceaneering reported second-quarter 2024 net income of $35.0 million, or $0.34 per diluted share, up from $19.0 million, or $0.19, a year earlier, on revenue of $669 million, up 12%. The company narrowed its full-year 2024 adjusted EBITDA guidance to $340 million to $370 million and expects third-quarter EBITDA of $95 million to $105 million.

Key points

  • Q2 2024 revenue was $669 million versus $598 million in Q2 2023; net income was $35.0 million versus $19.0 million.
  • Adjusted net income was $28.6 million, or $0.28 per share, after $(1.0) million of pre-tax foreign exchange adjustments and $(5.5) million of discrete tax expenses.
  • Full-year 2024 adjusted EBITDA guidance was narrowed to $340 million to $370 million; free cash flow guidance of $110 million to $150 million was unchanged.
  • Manufactured Products backlog was $713 million at June 30, 2024, up $295 million year over year; ADTech operating income declined on a contract dispute reserve.

The filing

CompanyOceaneering International (OII)
Form8-K, current report
Filed with the SECJul 24, 2024, 5:02 PM ET
Accession number0000073756-24-000125

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 24, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.