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Oceaneering International: 3Q Earnings Snapshot

·1 min read

HOUSTON (AP) _ Oceaneering International Inc. (OII) on Wednesday reported a loss of $79.4 million in its third quarter.

The Houston-based company said it had a loss of 80 cents per share. Losses, adjusted for one-time gains and costs, were 18 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.

The oilfield services company posted revenue of $439.7 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $418.2 million.

In the final minutes of trading on Wednesday, the company's shares hit $3.56. A year ago, they were trading at $13.71.

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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