Oceaneering (OII) Tops Q4 EPS by 2c

Oceaneering (NYSE: OII) reported Q4 EPS of ($0.08), $0.02 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $484 million versus the consensus estimate of $435.95 million.

"For 2018, overall, we project our consolidated revenue to be down slightly, with decreases in three of our energy segments, offset by increases in Asset Integrity and Advanced Technologies. We continue to project our 2018 results to be lower than our 2017 results, due to reduced pricing for our service and product offerings and lower absorption of our manufacturing fixed costs resulting from lower expected throughput. For the year, we anticipate generating $140 million to $180 million of EBITDA, with positive EBITDA contributions from each of our operating segments.

"At the midpoint of this range, our EBITDA for 2018 would represent a decline of about 28% from 2017 adjusted EBITDA. This decline should not be misconstrued as a further deterioration of our markets. With the exception of seasonality, we view the current market to be relatively stable.

For earnings history and earnings-related data on Oceaneering (OII) click here.

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