Oceaneering Q3 revenue rises 6% to $785 million; net income falls 26%
Oceaneering reported third-quarter 2026 revenue up 6% to $785 million and operating income up 7% to $92.2 million, but net income attributable to the company fell 26% to $52.6 million, or $0.52 per diluted share, from $0.71 a year earlier. The company also initiated full-year 2027 EBITDA guidance of $430 million to $480 million and guided fourth-quarter 2026 EBITDA to $85 million to $95 million.
Key points
- Q3 2026 revenue rose 6% to $785 million; adjusted EBITDA rose 7% to $119 million.
- Net income attributable to Oceaneering fell 26% to $52.6 million; diluted EPS was $0.52 versus $0.71 a year earlier.
- Initial 2027 consolidated EBITDA guidance is $430 million to $480 million; fourth-quarter 2026 EBITDA is guided to $85 million to $95 million.
- Free cash flow was $142 million in the quarter; cash and cash equivalents totaled $735 million at September 30, 2026. The company issued $500 million of 6.875% Senior Notes due 2034 during the quarter.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 7, 2026, 11:17 PM ET, from the text of the filing and its press-release exhibits only.
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