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Dec 31, 2024
Oceaneering Q4 2024 Earnings Report
Oceaneering reported strong fourth-quarter results with significant revenue and income growth.
Key Takeaways
Oceaneering delivered a strong Q4 2024 performance with a 9% year-over-year increase in revenue, reaching $713.45 million. Operating income surged 64% to $77.88 million, and net income rose 26% to $56.1 million. Adjusted EBITDA crossed the $100 million mark for the first time since 2016, highlighting the company’s robust operational efficiency.
Revenue grew 9% year over year to $713.45 million.
Operating income increased 64% to $77.88 million.
Net income rose 26% to $56.1 million.
Adjusted EBITDA surpassed $100 million for the first time since 2016.
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 expects continued revenue and operating income growth across all segments in 2025, with increased profitability projected for key business units.
Positive Outlook
- Revenue growth expected across all segments.
- Operating income projected to rise in each business unit.
- Integration of Global Design Innovation Ltd. to expand market reach.
- Strong backlog and sales pipeline to drive 2025 performance.
- Adjusted EBITDA guidance between $380 million and $430 million.
Challenges Ahead
- Geopolitical uncertainties may impact revenue projections.
- Potential cost increases from ERP system implementation.
- Challenges in Mobile Robotics segment affecting backlog.
- Cash flow margin expected to decline slightly due to capital expenditures.
- Market volatility in offshore energy sector remains a risk.
Revenue & Expenses
Visualization of income flow from segment revenue to net income