Shares of engineering and robotics solutions provider Oceaneering International (NYSE:OII) are rising in the pre-market session today on the back of its robust third-quarter showing.
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Revenue rose nearly 20% year-over-year to $559.7 million, outperforming estimates by ~$9.6 million. EPS at $0.23 too, comfortably beat estimates by $0.09.
The company had a consolidated order intake of $700 million for the quarter. Further, the remotely operated vehicle count stood at 250 at the end of September.
Looking ahead, for 2023, Oceaneering expects consolidated EBITDA to range between $260 million and $310 million. Free cash flow generation is seen exceeding $100 million.
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