OCEANEERING INTERNATIONAL Reports Second Quarter FY2023 Earnings on June 30, 2023
August 2, 2023
🌥️Earnings Overview
On June 30, 2023 OCEANEERING INTERNATIONAL ($NYSE:OII) announced its earnings report for the second quarter of FY2023. Total revenue for the quarter was USD 597.9 million, representing a 14.1% increase from the same period in the previous year. Net income was reported to be USD 19.0 million, a considerable rise from 3.7 million in the prior year.
Price History
The stock opened at $23.3 and closed at $23.6, down by a slight 0.1% from its last closing price of $23.7. The company’s earnings report was seen as a major headline in the business world, as investors were eager to see how the multinational energy services company had performed in the second quarter. The report noted a slight decrease in revenue from the previous quarter, but also highlighted a number of areas where the company had improved, including increased market share and a more efficient operating structure. OCEANEERING INTERNATIONAL was also able to maintain its strong financial position despite challenges in the energy sector. The company’s earnings report was followed by an investor conference call, where OCEANEERING INTERNATIONAL CEO and President Dave Dunlap discussed the company’s strategy for the upcoming quarter. On the call, Dunlap highlighted the strength of the company’s core operations and the importance of continuing to innovate and expand into new markets.
Overall, OCEANEERING INTERNATIONAL reported a solid second quarter performance. Despite some challenges in the energy sector, the company was able to maintain its financial position and post positive results. Moving forward, investors will be looking to see how the company continues to progress in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Oceaneering International. More…
| Total Revenues | Net Income | Net Margin |
| 2.23k | 64.49 | 2.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Oceaneering International. More…
| Operations | Investing | Financing |
| 158.47 | -76.86 | -1.86 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Oceaneering International. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.16k | 1.61k | 5.16 |
Key Ratios Snapshot
Some of the financial key ratios for Oceaneering International are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.3% | -74.3% | 7.7% |
| FCF Margin | ROE | ROA |
| 3.5% | 20.7% | 5.0% |
Analysis
At GoodWhale, we recently conducted an analysis of OCEANEERING INTERNATIONAL to assess its wellbeing. Our findings indicate that OCEANEERING INTERNATIONAL is a medium risk investment in terms of financial and business aspects. We have identified two risk warnings in OCEANEERING INTERNATIONAL’s income sheet and balance sheet. If you would like to know more about the risks associated with this investment, please register with us so we can provide you with more information. More…
Peers
Oceaneering International, Inc. is one of the world’s largest providers of engineered services and products to the offshore oil and gas industry, with a focus on deepwater applications. The company has a significant competitive advantage in its unique ability to operate in extremely deepwater environments. Deep Down, Inc. is a leading provider of subsea intervention, installation, and abandonment services to the oil and gas industry. The company has a strong track record of delivering complex projects safely and on time. Dolfines is a leading provider of remotely operated vehicles (ROVs) and related services to the oil and gas industry. The company has a broad range of ROVs and related services that are used in a variety of applications, including deepwater drilling and production. Bumi Armada Bhd is a leading provider of floating production, storage, and offloading (FPSO) vessels and related services to the oil and gas industry. The company has a strong track record of delivering projects on time and on budget.
– Deep Down Inc ($OTCPK:DPDW)
The company’s market capitalization is 7.25 million as of 2022. The company’s return on equity is -2.83%. The company is engaged in the development of oil and gas projects.
– Dolfines ($BER:JPZ0)
Bumi Armada is a Malaysia-based international offshore oilfield services provider. The Company is engaged in the charter, operation and maintenance of floating production, storage and offloading (FPSO) vessels, Floating LNG (FLNG) vessels, Tension Leg Platforms (TLPs), FPSO topsides, FSOs, LNG regasification units, LNG carriers, LNG/CNG carriers, other LNG related floating units, process platforms, mini-refineries, riser platforms and living quarters platforms.
Summary
Investment analysis of OCEANEERING INTERNATIONAL suggests that its performance during the second quarter of FY2023 was impressive. Total revenue grew by 14.1% compared to the same period in the previous year, while net income rose from 3.7 million to 19.0 million. With strong revenue growth and improved profitability, OCEANEERING INTERNATIONAL appears to be a sound investment opportunity. Investors should consider the company’s recent financial performance when making decisions on whether to invest in it.
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