Oceaneering International: 3Q Earnings Snapshot
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.