WWL AP Feed General

Oceaneering International: 4Q Earnings Snapshot

February 24, 2020 - 4:27 pm

HOUSTON (AP) _ Oceaneering International Inc. (OII) on Monday reported a loss of $262.9 million in its fourth quarter.

On a per-share basis, the Houston-based company said it had a loss of $2.66. Earnings, adjusted for non-recurring costs, were 3 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share.

The oilfield services company posted revenue of $560.8 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $525.7 million.

For the year, the company reported that its loss widened to $348.4 million, or $3.52 per share. Revenue was reported as $2.05 billion.

Oceaneering International shares have declined 20% since the beginning of the year. In the final minutes of trading on Monday, shares hit $11.92, a drop of 25% 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

AP Editorial Categories: 
Comments ()