Filing Flows › Oceaneering International (OII) › Q3 2026
Oceaneering International (OII) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 22, 2026
Oceaneering International (OII) reported revenue of $785M for the third quarter 2026 (Q3 2026), +6% from a year earlier and +2% from the quarter before. Operating margin was 11.7%, net earnings $52.6M (6.7% of revenue).
Oceaneering International, Q3 2026: revenue $785M (+6% year over year), operating margin 11.7%, net earnings $52.6M, operating cash flow $163M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $785M | +2% | +6% |
| Gross profit | $165M | +5% | +8% |
| Operating profit | $92.2M | +4% | +7% |
| Net earnings | $52.6M | -19% | -26% |
| Operating cash flow | $163M | +195% | +61% |
| Free cash flow | $142M | +343% | +84% |
What changed
Revenue was $784.6M in Q3 2026, up 6% year over year and up 2% from the previous quarter. Subsea Robotics was the largest line at 30% of revenue. Subsea Robotics added $14.2M year over year (up 7%), 34% of the total change.
Gross margin was 21.0%, up 0.4 points from Q3 2025. Operating profit was $92.2M, a 11.7% margin (up 0.1 points year over year). Of the extra revenue versus Q3 2025, 14% reached operating profit, above the 12% margin then. Operating expenses grew 9% against revenue growth of 6%. Net earnings were $52.6M, down 26% year over year. The effective tax rate was 23.9%.
Operating cash flow was $163.0M (up 61% year over year), 310% of net earnings. Non-cash charges added back $26.6M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items added $78.6M. Capital expenditures of $21.1M left free cash flow of $141.9M.
Questions
What was Oceaneering International's revenue in the third quarter 2026?
Oceaneering International (OII) reported revenue of $785M for the third quarter 2026 (Q3 2026), +6% from a year earlier and +2% from the quarter before.
Was Oceaneering International profitable in the third quarter 2026?
Operating profit was $92.2M (11.7% of revenue) and net earnings $52.6M.