Filing Flows › Oceaneering International (OII) › Q2 2026 › vs Q2 2025
Oceaneering International (OII) Q2 2026 vs Q2 2025 (year over year)
Oceaneering International's revenue rose $70.0M (+10%) from $698M in Q2 2025 to $768M in Q2 2026. The biggest changes: Offshore Projects Group +$33.6M (+22%); Aerospace and Defense Technologies +$23.9M (+22%); Subsea Robotics +$13.2M (+6%). Gross margin 20.4% against 21.3% (-0.8 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 20.4% | 21.3% | -0.8 pts |
| Operating margin | 11.5% | 11.3% | +0.1 pts |
| Net margin | 8.5% | 7.8% | +0.7 pts |
| Free cash flow margin | 4.2% | 6.7% | -2.6 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Subsea Robotics | $232M | $219M | $13.2M | +6% |
| Offshore Projects Group | $183M | $149M | $33.6M | +22% |
| Manufactured Products | $149M | $145M | $3.9M | +3% |
| Aerospace and Defense Technologies | $133M | $110M | $23.9M | +22% |
| Integrity Managements & Digital Solutions | $70.8M | $75.4M | −$4.5M | -6% |
| Revenue | $768M | $698M | $70.0M | +10% |
| Gross profit | $157M | $148M | $8.6M | +6% |
| Cost of revenue | $611M | $550M | $61.5M | +11% |
| Operating profit | $88.2M | $79.2M | $9.0M | +11% |
| Operating expenses | $68.7M | $69.2M | −$493K | -0.7% |
| Pre-tax earnings | $86.1M | $78.4M | $7.7M | +10% |
| Loss borne by minority interests | $1.4M | $0 | $1.4M | — |
| Net earnings | $65.0M | $54.4M | $10.6M | +19% |
| Income tax | $22.5M | $24.0M | −$1.5M | -6% |
| Depreciation & amortization | $27.4M | $25.4M | $2.0M | +8% |
| Share-based compensation | $5.2M | $3.7M | $1.6M | +43% |
| Working capital & other | $42.5M | $6.3M | $36.2M | +571% |
| Operating cash flow | $55.2M | $77.2M | −$22.0M | -28% |
| Free cash flow (OCF − capex) | $32.0M | $46.9M | −$14.9M | -32% |
| Capital expenditures | $23.2M | $30.3M | −$7.1M | -23% |
Questions
How much did Oceaneering International's revenue grow year over year in Q2 2026?
Oceaneering International's revenue rose $70.0M (+10%) from $698M in Q2 2025 to $768M in Q2 2026.
What drove Oceaneering International's revenue change in Q2 2026?
Offshore Projects Group +$33.6M (+22%); Aerospace and Defense Technologies +$23.9M (+22%); Subsea Robotics +$13.2M (+6%).