Oceaneering International: 2Q Earnings Snapshot

HOUSTON (AP) _ Oceaneering International Inc. (OII) on Wednesday reported a second-quarter loss of $33.1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Houston-based company said it had a loss of 34 cents. Losses, adjusted for non-recurring costs, came to 23 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.

The oilfield services company posted revenue of $478.7 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $446.4 million.

Oceaneering International shares have increased 27 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $26.87, a climb of nearly 9 percent 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