Oceaneering International: 3Q Earnings Snapshot

October 30, 2019 GMT

HOUSTON (AP) _ Oceaneering International Inc. (OII) on Wednesday reported a loss of $25.5 million in its third quarter.

The Houston-based company said it had a loss of 26 cents per share. Losses, adjusted for non-recurring gains, were 30 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.

The oilfield services company posted revenue of $497.6 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $526.6 million.

Oceaneering International shares have risen 12% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.55, a decline of 28% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OII at https://www.zacks.com/ap/OII