Oceaneering Q3 Net Income Falls 26% to $52.6 Million Despite 6% Revenue Growth

Oceaneering International (OII) reported third-quarter net income attributable to the company of $52.6 million, or $0.52 per share, down 26% from $71.3 million, or $0.71 per share, a year earlier. Revenue rose 6% to $784.6 million from $742.9 million. For the fourth quarter, the company expects revenue to increase year over year and EBITDA of $85 million to $95 million. Oceaneering initiated full-year 2027 EBITDA guidance of $430 million to $480 million and said it expects free cash flow to exceed its forecast for 2026.