Oceaneering International reported second-quarter revenue of $768.2 million, exceeding Wall Street estimates by 4.3% and growing 10% year on year. GAAP earnings per share reached $0.65, a 49.8% beat over the consensus estimate of $0.43. Adjusted EBITDA came in at $114.5 million, representing a 14.9% margin and an 8.5% beat, while operating margin held steady at 11.5%. Free cash flow margin declined to 4.2% from 6.7% a year earlier, and the company's market capitalization stood at $4.49 billion. Shares rose 3.2% to $46.40 following the release.
Oceaneering International IncQ2 revenue and EPS beat estimates, driving shares up 3.2%