Filing Flows › Oceaneering International (OII) › Q2 2026 › vs Q1 2026
Oceaneering International (OII) Q2 2026 vs Q1 2026 (quarter over quarter)
Oceaneering International's revenue rose $75.8M (+11%) from $692M in Q1 2026 to $768M in Q2 2026. The biggest changes: Offshore Projects Group +$47.5M (+35%); Subsea Robotics +$17.7M (+8%); Manufactured Products +$5.4M (+4%). Gross margin 20.4% against 18.4% (+2.1 pts).
Oceaneering International, Q2 2026: revenue $768M (+10% year over year), operating margin 11.5%, net earnings $65.0M, operating cash flow $55.2M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 20.4% | 18.4% | +2.1 pts |
| Operating margin | 11.5% | 8.3% | +3.1 pts |
| Net margin | 8.5% | 5.2% | +3.2 pts |
| Free cash flow margin | 4.2% | -11.1% | +15.2 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Subsea Robotics | $232M | $214M | $17.7M | +8% |
| Offshore Projects Group | $183M | $135M | $47.5M | +35% |
| Manufactured Products | $149M | $144M | $5.4M | +4% |
| Aerospace and Defense Technologies | $133M | $131M | $2.2M | +2% |
| Integrity Managements & Digital Solutions | $70.8M | $67.9M | $3.0M | +4% |
| Revenue | $768M | $692M | $75.8M | +11% |
| Gross profit | $157M | $127M | $29.7M | +23% |
| Cost of revenue | $611M | $565M | $46.0M | +8% |
| Operating profit | $88.2M | $57.8M | $30.4M | +53% |
| Operating expenses | $68.7M | $69.5M | −$737K | -1% |
| Pre-tax earnings | $86.1M | $54.8M | $31.2M | +57% |
| Loss borne by minority interests | $1.4M | $0 | $1.4M | — |
| Net earnings | $65.0M | $36.1M | $28.9M | +80% |
| Income tax | $22.5M | $18.7M | $3.8M | +20% |
| Depreciation & amortization | $27.4M | $27.2M | $258K | +0.9% |
| Share-based compensation | $5.2M | $5.2M | $42K | +0.8% |
| Working capital & other | $42.5M | $128M | −$85.1M | -67% |
| Operating cash flow | $55.2M | −$59.1M | $114M | — |
| Free cash flow (OCF − capex) | $32.0M | −$76.5M | $109M | — |
| Capital expenditures | $23.2M | $17.4M | $5.8M | +33% |
Questions
How much did Oceaneering International's revenue grow quarter over quarter in Q2 2026?
Oceaneering International's revenue rose $75.8M (+11%) from $692M in Q1 2026 to $768M in Q2 2026.
What drove Oceaneering International's revenue change in Q2 2026?
Offshore Projects Group +$47.5M (+35%); Subsea Robotics +$17.7M (+8%); Manufactured Products +$5.4M (+4%).