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Mar 31
Oceaneering Q1 2025 Earnings Report
Oceaneering reported strong first quarter 2025 results, outperforming expectations with significant increases in revenue, operating income, net income, and adjusted EBITDA.
Key Takeaways
Oceaneering International, Inc. reported a robust first quarter 2025, with revenue increasing 13% year-over-year to $675 million. Operating income doubled to $73.5 million, and net income surged 233% to $50.4 million. Adjusted EBITDA reached $96.7 million, a 57% increase from the prior year, driven by strong performances in Subsea Robotics and Offshore Projects Group.
Revenue increased 13% year-over-year to $675 million.
Operating income doubled to $73.5 million, a 100% increase year-over-year.
Net income surged 233% year-over-year to $50.4 million.
Adjusted EBITDA grew 57% year-over-year to $96.7 million, exceeding guidance and consensus.
Oceaneering
Oceaneering
Oceaneering Revenue by Segment
Revenue by Segment
Subsea Robotics Revenue
CapyFin.comManufactured Products Revenue
CapyFin.comOffshore Projects Group Revenue
CapyFin.comIMDS Revenue
CapyFin.comAerospace & Defense Tech Revenue
CapyFin.com Forward Guidance
Oceaneering reiterates its full-year 2025 EBITDA guidance in the range of $380 million to $430 million, despite recent market developments, and projects second quarter 2025 consolidated revenue to increase with EBITDA in the range of $95 million to $105 million.
Positive Outlook
- Reiteration of full-year 2025 EBITDA guidance ($380 million to $430 million) despite market uncertainties.
- Strong start to 2025 supports confidence in the full-year guidance.
- Second quarter 2025 consolidated revenue is expected to increase.
- Second quarter 2025 EBITDA is projected to increase, ranging from $95 million to $105 million.
- SSR, OPG, IMDS, and ADTech segments are all expected to see increased operating profitability in Q2 2025.
Challenges Ahead
- The bottom end of the full-year EBITDA guidance range was previously lowered to $380 million due to potential market uncertainties.
- Manufactured Products revenue is projected to be relatively flat in Q2 2025.
- OPG revenue is forecasted to be relatively flat in Q2 2025.
- IMDS revenue is expected to be relatively flat in Q2 2025.
- Unallocated Expenses are expected to remain in the $45 million range in Q2 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income