Offshore services provider Oceaneering International (NYSE:OII) will be reporting results this Wednesday after the bell. Here’s what you need to know.
Oceaneering beat analysts’ revenue expectations last quarter, reporting revenues of $768.2 million, up 10% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Oceaneering a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Oceaneering’s revenue to grow 5.1% year on year, slowing from the 9.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Oceaneering has missed Wall Street’s revenue estimates multiple times over the last two years.
With Oceaneering being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for upstream & integrated stocks. However, investors in the segment have had steady hands going into earnings, with share prices flat over the last month. Oceaneering is down 3.2% during the same time .
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