Filing Flows › Oceaneering International (OII) › Q1 2025
Oceaneering International (OII) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 24, 2025
Oceaneering International (OII) reported revenue of $675M for the first quarter 2025 (Q1 2025), +13% from a year earlier and -5% from the quarter before. Operating margin was 10.9%, net earnings $50.4M (7.5% of revenue).
Oceaneering International, Q1 2025: revenue $675M (+13% year over year), operating margin 10.9%, net earnings $50.4M, operating cash flow −$80.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $675M | -5% | +13% |
| Gross profit | $135M | -5% | +46% |
| Operating profit | $73.5M | -6% | +100% |
| Net earnings | $50.4M | -10% | +233% |
| Operating cash flow | −$80.7M | — | — |
What changed
Revenue was $674.5M in Q1 2025, up 13% year over year and down 5% from the previous quarter. Subsea Robotics was the largest line at 31% of revenue. Offshore Projects Group added $49.9M year over year (up 43%), 66% of the total change. Aerospace and Defense Technologies declined 1%.
Gross margin was 20.0%, up 4.6 points from a year earlier. Operating profit was $73.5M, a 10.9% margin (up 4.8 points year over year). Of the extra revenue versus a year earlier, 49% reached operating profit, above the 6% margin then. Operating expenses grew 11% against revenue growth of 13%. Net earnings were $50.4M, up 233% year over year. The effective tax rate was 27.4%.
Operating cash flow was −$80.7M. Non-cash charges added back $24.4M of depreciation and amortization and $3.7M of share-based compensation. Working capital and other items used $159.3M. Capital expenditures of $26.1M exceeded it, leaving free cash flow of −$106.8M.
Questions
What was Oceaneering International's revenue in the first quarter 2025?
Oceaneering International (OII) reported revenue of $675M for the first quarter 2025 (Q1 2025), +13% from a year earlier and -5% from the quarter before.
Was Oceaneering International profitable in the first quarter 2025?
Operating profit was $73.5M (10.9% of revenue) and net earnings $50.4M.