Oceaneering reports Q4 adjusted EPS 19c, consensus 24c

Reports Q4 revenue $654.63M, consensus $627.44M. Roderick A. Larson, President and Chief Executive Officer of Oceaneering, stated, “2023 consolidated revenue increased 17% over 2022 to $2.4 billion, driving our fifth consecutive year of improved adjusted EBITDA performance. For the full year of 2023, our adjusted EBITDA of $289 million was slightly above the midpoint of our most recent guidance range and we generated $109 million of free cash flow. All of our operating segments, except for Integrity Management and Digital Solutions (IMDS), achieved improved sequential annual operating results, led by Subsea Robotics (SSR) and Manufactured Products. I am grateful to our Oceaneers for their dedication and commitment to excellence in delivering these results.”