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

Oceaneering Q1 revenue rises 3% to $692 million; net income falls 28% to $36.1 million

Mixed Impact 3 of 5 earnings Written later

Oceaneering reported first quarter 2026 results with revenue up 3% to $692 million, but net income fell 28% to $36.1 million and adjusted EBITDA fell 13% to $83.7 million. The company kept its full-year 2026 EBITDA guidance of $390 million to $440 million, but now expects IMDS operating income to rise by less than it previously anticipated, and free cash flow was negative $76.5 million for the quarter.

Key points

  • Revenue was $692 million, up 3% from the first quarter of 2025; operating income was $57.8 million, down 21%.
  • Net income was $36.1 million, down 28%; diluted earnings per share were $0.36, compared with $0.49 a year earlier.
  • Full-year 2026 consolidated EBITDA guidance of $390 million to $440 million was maintained; second quarter EBITDA is expected to be $100 million to $110 million.
  • ADTech operating income fell 24% to $8.1 million after an accrual tied to the resolution of a contract dispute.

The filing

CompanyOceaneering International (OII)
Form8-K, current report
Filed with the SECApr 22, 2026, 5:01 PM ET
Accession number0000073756-26-000080

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:39 AM ET, from the text of the filing and its press-release exhibits 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 April 22, 2026.

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