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Oceaneering International: 1Q Earnings Snapshot

HOUSTON (AP) _ Oceaneering International Inc. (OII) on Monday reported a loss of $24.8 million in its first quarter.

On a per-share basis, the Houston-based company said it had a loss of 25 cents. Losses, adjusted for non-recurring costs, came to 24 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 45 cents per share.

The oilfield services company posted revenue of $493.9 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $464.6 million.

Oceaneering International shares have climbed 43% since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.31, a decrease of 19% in the last 12 months.


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