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Oceaneering International: 4Q Earnings Snapshot

February 24, 2021 GMT

HOUSTON (AP) _ Oceaneering International Inc. (OII) on Wednesday reported a loss of $25 million in its fourth quarter.

On a per-share basis, the Houston-based company said it had a loss of 25 cents. Earnings, adjusted for non-recurring costs, were 2 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.

The oilfield services company posted revenue of $424.3 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $426.7 million.

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For the year, the company reported that its loss widened to $496.8 million, or $5.01 per share. Revenue was reported as $1.83 billion.

Oceaneering International shares have climbed 37% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.90, a drop of almost 9% in the last 12 months.

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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