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OII 8-K filings in 2024
Every material Form 8-K Oceaneering International filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Oceaneering International's board promoted Benjamin M. Laura, currently Senior Vice President and Chief Innovation Officer, to Senior Vice President and Chief Operating Officer, effective January 1, 2025. The filing discloses a senior management change but no financial results, guidance, or compensation terms for the new role.
Promotion effective January 1, 2025; announced by the board on November 21, 2024
Laura, age 45, has been Senior Vice President and Chief Innovation Officer since October 2022 and joined the company in 2014
Prior roles include Senior Vice President, Offshore Projects Group (May 2020 to October 2022) and Baker Hughes Vice President and Managing Director for Baker Hughes do Brasil
CEO Roderick A. Larson said Laura's experience and record as a change leader make him an ideal fit for the COO role
Oceaneering reported third-quarter 2024 net income of $41.2 million, or $0.40 per diluted share, on revenue of $680 million, compared with net income of $29.8 million, or $0.29 per share, on revenue of $635 million a year earlier. The company revised its full-year 2024 adjusted EBITDA guidance to $340 million to $350 million and gave initial 2025 consolidated EBITDA guidance of $400 million to $430 million.
Q3 2024 net income $41.2 million and diluted EPS $0.40, versus $29.8 million and $0.29 in Q3 2023
Q3 2024 revenue $680 million, up from $635 million a year earlier; adjusted net income was $37.2 million, or $0.36 per share
Revised 2024 consolidated adjusted EBITDA guidance of $340 million to $350 million; initial 2025 consolidated EBITDA guidance of $400 million to $430 million
Repurchased 422,229 shares for approximately $10 million in the quarter, the first share repurchases since 2015
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.
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.
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Oceaneering International filing is on SEC EDGAR ↗. 8-K briefs of other companies →