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Oceaneering International: 1Q Earnings Snapshot

HOUSTON (AP) _ Oceaneering International Inc. (OII) on Wednesday reported a loss of $367.6 million in its first quarter.

The Houston-based company said it had a loss of $3.71 per share. Earnings, adjusted for one-time gains and costs, came to 4 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.

The oilfield services company posted revenue of $536.7 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $540.5 million.

In the final minutes of trading on Wednesday, the company's shares hit $4.64. A year ago, they were trading at $17.65.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OII at https://www.zacks.com/ap/OII