Published on 26 Apr 2024 on Zacks via Yahoo Finance
Oceaneering (OII) Q1 Earnings and Revenues Miss Estimates
Oceaneering International OII reported first-quarter 2024 adjusted profit of 14 cents per share, which missed the Zacks Consensus Estimate of 30 cents. This underperformance was due to lower-than-expected operating income from the Offshore Projects Group segment.
However, the bottom line outpaced the year-ago quarter’s reported figure of 5 cents. This can be attributed to year-over-year strong operating income from certain segments — Subsea Robotics, Manufactured Products, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies.