Oceaneering (OII) Q4 2025 Earnings Call Transcript

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Thu, February 19, 2026 astatine 11:21 AM CST 25 min read

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Thursday, February 19, 2026 astatine 11 a.m. ET

• President & Chief Executive Officer — Roderick A. Larson

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Roderick A. Larson: We closed retired 2025 with beardown execution crossed the business, making continued advancement against our strategical priorities. Our show reflected continued pricing progression successful cardinal businesses, beardown operational delivery, and increasing contributions from Aerospace and Defense Technologies, oregon AdTech. Importantly, this translated into meaningful currency generation, with our currency equilibrium expanding to $689,000,000 astatine year-end, further strengthening our fiscal flexibility.

During 2025, we generated bid intake of $3,700,000,000, which represented a book-to-bill ratio of 1.33, up from 1.1 successful 2024, expanded adjusted EBITDA margins by 140 ground points with each operating conception realizing year-over-year improvements, achieved 99% ROV uptime for the 2nd consecutive twelvemonth and for the seventh clip successful the past 10 years, improved ROV—excuse me—improved pricing successful our ROV concern by 7% implicit the people of the year, won the highest ever archetypal declaration grant successful Oceaneering International, Inc.'s past done our AdTech business, integrated GDI into our Integrity Management and Digital Solutions, oregon IMDS, segment, repurchased astir 1,800,000 shares for $40,000,000, and grew our currency equilibrium by $191,000,000.

As information remains foundational to everything we do, I americium particularly arrogant of our record-low Total Recordable Incident Rate, oregon TRIR, of 0.22 achieved successful 2025. Today, I volition screen our 4th fourth and afloat twelvemonth 2025 results, our marketplace outlook for 2026, our consolidated guidance for 2026, and our conception outlook for the afloat twelvemonth 2026. I volition commencement by reviewing our 4th fourth 2025 results. We delivered a coagulated 4th fourth successful enactment with emblematic seasonality driven by beardown operational execution successful respective of our concern segments.

Compared to 2024, consolidated gross of $669,000,000 was driven by important maturation successful AdTech, which partially offset little gross successful our energy-focused businesses, resulting successful a 6% diminution from the aforesaid play past year. The gross alteration successful vigor was chiefly owed to the unusually precocious fig of planetary involution and installation projects that our Offshore Projects Group, oregon OPG, performed successful 2024 that did not repetition successful 2025. Consolidated operating income of $65,400,000 besides declined twelvemonth implicit year, with increases successful AdTech, Manufactured Products, and Subsea Robotics, oregon SSR, partially offsetting importantly little results successful OPG stemming from the involution and installation projects successful 2024 that I mentioned previously. IMDS was besides little compared to past year.