Shares of Oceaneering International Inc. (OII) plummeted 5.05% in intraday trading on Friday, underperforming the broader market, after the company reported mixed fourth-quarter 2024 results and provided a cautious outlook for 2025.
For the fourth quarter, Oceaneering reported adjusted earnings per share of $0.37, missing the consensus estimate of $0.45. While total revenues of $713 million beat expectations and increased year-over-year, the company's earnings were impacted by lower-than-expected operating income from segments like Manufactured Products, Aerospace and Defense Technologies, and Integrity Management & Digital Solutions.
Looking ahead, the company expects revenue and operating income growth across several key segments in the first quarter of 2025, including Subsea Robotics, Manufactured Products, and Offshore Projects Group. However, due to rising geopolitical uncertainties, Oceaneering has adjusted the lower end of its full-year 2025 EBITDA guidance, indicating a more cautious outlook.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.