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Earnings To Watch: Oceaneering (OII) Reports Q2 Results Tomorrow

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Offshore services provider Oceaneering International (NYSE: OII) will be reporting earnings this Wednesday after the bell. Here’s what you need to know.

Oceaneering beat analysts’ revenue expectations last quarter, reporting revenues of $692.4 million, up 2.7% year on year. It was a slower quarter for the company, with a miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS 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 5.5% year on year, improving from the 4.4% increase it recorded in the same quarter last year.

Oceaneering Total Revenue

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 up 19.7% during the same time .

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