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Dec 31, 2021
Oceaneering Q4 2021 Earnings Report
Oceaneering reported a net loss of $38.8 million on revenue of $467 million for the three months ended December 31, 2021.
Key Takeaways
Oceaneering International Inc. reported Q4 2021 results with revenue of $467 million and a net loss of $38.8 million, or $(0.39) per share. Adjusted net income was $5.0 million, or $0.05 per share. Cash flow from operations was $140 million, yielding free cash flow of $126 million. The company's cash position increased by $90.4 million to $538 million.
Cash flow generated from operations was $140 million yielding free cash flow of $126 million
Consolidated Adjusted EBITDA was $46.7 million
Consolidated Adjusted Operating Income was $17.0 million
Cash position increased by $90.4 million, from $448 million to $538 million
Revenue by Segment
Forward Guidance
Oceaneering projects 2022 consolidated revenue to grow more than 10%, with increased revenue in each operating segment, led by Manufactured Products. They anticipate generating $225 million to $275 million of EBITDA and expect positive free cash flow of $75 million to $125 million.
Positive Outlook
- Projecting 2022 consolidated revenue to grow more than 10%
- Expecting increased revenue in each operating segment, led by Manufactured Products
- Anticipating higher operating income and higher margins in each energy segment, led by SSR and OPG
- Expecting higher operating income and stable margins in the ADTech segment
- Projecting $225 million to $275 million of EBITDA for 2022
Challenges Ahead
- First quarter 2022 financial results are expected to be significantly lower compared to the fourth quarter of 2021 due to seasonality
- Uncertainties regarding US Government appropriations due to the continuing resolution
- Anticipated expenses needed to prepare for higher activity in 2022 will impact Q1 results
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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