Long trade : OII +8% (2/23)

•  Fri 2/24: #1, 3, 4, 5, 9, 10, 15, 16, 18, 26, 33, 38, 72; vol. 2.0M

Oceaneering Intl (OII) reported earnings on Thur 23 Feb 23 (a/h)

 ** charts before earnings **

** charts after earnings **

** the following day **

 

Oceaneering Intl misses by $0.13, misses on revs; guides FY23 revs above consensus 

• Reports Q4 (Dec) earnings of $0.06 per share, excluding non-recurring items, $0.13 worse than the S&P Capital IQ Consensus of $0.19; revenues rose 14.9% year/year to $536.22 mln vs the $549.29 mln S&P Capital IQ Consensus.
  • Given the higher cost of performing offshore work over the past several years, customers are increasingly planning their work to avoid periods of higher weather risk. As a result, co expects a Q1 seasonal impact, particularly in its OPG business. Considering this and anticipated project timing leading to higher levels of utilization in Q2 and Q3, co guides to Q1 adjusted EBITDA of $40-50 mln.
• Co issues upside guidance for FY23, sees FY23 revs growing by more than 10%, which we compute as above $2.27 bln vs. $2.26 bln S&P Capital IQ Consensus. Co guides to FY23 adjusted EBITDA of $260-310 mln.

Earnings this week : Feb 20 - 24, 23 (wk 8)

Monday (Feb 20)

• Afternoon: ADTN CPRT PLOW MTW NDSN WMB

Tuesday (Feb 21)

• Morning: ARNC AWI AVNS BCRX DAN DRH DFIN ELAN NPO ETRN ESPR EXPD FLR HRMY HD HUN IR JBT JELD LGIH LECO LPX MDT MIDD TAP PEG SPNS SMP TECK TPH TRN WD WMT WLK
• Afternoon:  ABCL ALIT ATRC AGR BCC CZR CWH CHK CWAN COIN CSGP CW FANG ESI EXAS FLS GFL GMED HALO TWNK IAA IOSP KAR KW KEYS LZB MTDR MATX MED NHI PANW PEB PUMP PTCT PSA QTWO O RBA SRPT SBAC SPT STAA SKT TOL RIG UFPI UNVR VNOM WSC WK ZIP

Wednesday (Feb 22)

• Morning:  ALLE AVA BIDU BCO CRL CSTM DRVN EDIT EVBG FVRR FDP GRMN GEL THRM ROCK GIL GLBE HEES IBP IART IONS LIVN NI OSTK PGTI PLAB DOC PRG RGEN SBGI STLA SHO TJX TNL UTHR VRT WING WIX WWW
• Afternoon:  ACVA AGI ATUS AMWL ANSS APA AMK BTG BMBL WHD CPE CAKE CHDN CIVI CDE FIX CTRA CCRN DVA BROS EBAY ECPG EPR ETSY EVTC EVH EXR FPI FNF FIVN GKOS GSHD ICLR IMAX KALU LMND LGND LCID MGNI MRVI VAC DOOR MTTR MGRC MMSI MOS MYRG NTAP NUVA NVDA OLO OGS ORA OUT PAAS PK PDCE PXD LUNG RXT RELY RCII SNBR SM STRA RGR NOVA RUN TNDM TDOC TPIC TMDX USPH UCTT UIS U VMI VCYT WES

Thursday (Feb 23)

• Morning: AGIO BABA ALNY AEP AMT HOUS AMBP BAND BBWI BHC CARS CBRE LNG CQP IMOS CCOI COMM DEN DPZ DTE EME ENOV EXLS AG FCN GPC HLMN HNI INSM NTLA IRM KDP KYMR LNTH LKQ MPW MFA MGPI MRNA MODV NABL NEO NTES NEM NICE NKLA NOMD NVCR OGE OPCH PZZA PCG PLNT PRMW PWR RSKD SPTN SRCL SHOO FTI TNK TFX TNC SHYF THRY BLD TAC TRS VCEL VIPS W WOW YETI
• Afternoon:  ACCO ALRM ALKT LNT ALTR AMH ACA ADSK BALY BBDC BYND BIGC SQ BKNG BCOV BWXT CABO CRC CVNA CE CHE CDXS COLL CYRX LAW CUBE CWK DH BOOM EIX ENV EOG EXFY FTCH FND FOXF FTAI GLPI GDOT GDYN GH HBM INFN INGN PODD INTU IRTC KTOS LZ LMAT LSI LYV MNKD MTZ MELI MCW MP NVTS LASR NOG OII LPRO OPEN OPK PAY PBA PEN PRDO PLYA PRI KWR RLAY RVLV RHP SEM SWN SPXC SG TMST TVTX OLED UPLD MDRX VICI VICR VIR WBD XNCR ZETA

Friday (Feb 24)  

• Morning:  ACMR BRC GTLS CM CNK DBRG EVRG FYBR GTN DINO LAMR NWN PNM SSP TBLA TPB SLCA UNIT

This week's biggest % winners & losers : Oct. 23 - 27, 17 (wk 43)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare: ALGN (235.94 +17.45%), AIMT (29.88 +16.45%)
• Materials: VHI (4 +19.05%), KRA (48.47 +15.43%)
• Industrials: ECHO (23.85 +23.26%), FIX (42.45 +16.78%), FCN (42.4 +15.09%)
• Consumer Discretionary: IMAX (24.9 +16.9%), BWLD (124.5 +15.44%)
• Information Technology: TWTR (21.68 +21.32%), FSLR (57.67 +20.83%), NQ (4.07 +19.01%), STM (23.29 +16.92%), LN (41.92 +14.91%), GRUB (60.02 +14.67%), POWI (84.35 +14.37%)
• Financials: GCAP (7.35 +19.51%), TREE (266.4 +18.98%)
• Telecommunication Services: IRDM (12.7 +14.41%)
• Utilities: DYN (11.22 +21.17%)

This week's top 20 % losers

• Healthcare: ACHC (33.25 -25.2%), ENDP (5.88 -23.83%), LMAT (31.26 -19.87%), CELG (98.17 -19.09%), CHRS (11.1 -18.98%), OMER (15.46 -18.42%)
• Materials: EGO (1.29 -40.55%)
• Industrials: ESND (9.86 -24.15%), HA (33.9 -18.51%)
• Consumer Discretionary: ENT (2.56 -20.4%), TAL (28.01 -19.77%), EXPE (123.79 -18.99%), LEXEA (46.15 -18.33%)
• Information Technology: TRVG (7.57 -30.49%), EFII (29.75 -30.13%), UCTT (24.28 -26.38%), AXE (68.9 -21.7%), NOK (4.91 -19.24%)
• Energy: OII (19.04 -23.26%)
• Telecommunication Services: I (4.77 -25.47%)

Oceaneering Intl (OII) reported earnings on Thur 26 Oct 17 (b/o)

 

 

Oceaneering Intl misses by $0.01, misses on revs; believes Q4 'results will be considerably lower' than adj. Q3 results 

• Reports Q3 (Sep) earnings of $0.02 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.03; revenues fell 13.3% year/year to $476.12 mln vs the $511.14 mln Capital IQ Consensus.
• Q4 Outlook
  • "Looking forward, we believe our fourth quarter results will be considerably lower than our adjusted third quarter results due to seasonality and a reduced level of activity. Most of the decline is expected to be in our ROV and Subsea Projects segments, with modestly lower operating income from our other oilfield segments as we foresee very few near-term catalysts to support an improvement in our oilfield markets. For our non-oilfield segment, Advanced Technologies, we are projecting a modest quarterly improvement, and slightly higher Unallocated Expenses." Said Roderick A. Larson, President and Chief Executive Officer of Oceaneering. 
• "Based on the current number of floating rigs working and expectations for further reductions in oil and gas industry capital and operating expenditures as offshore activities get pushed into 2019, we believe our 2018 earnings will be significantly lower than 2017. However, during 2018, we expect each of our operating segments will contribute positive EBITDA, and, on a consolidated basis, we will generate sufficient cash flows to service our debt and fund our anticipated maintenance and organic growth capital expenditures. While we are anticipating an increase in offshore activity levels during the second half of 2018, we do not expect this shift in momentum to be adequate to offset the near-term market weakness or to present an opportunity to meaningfully improve pricing.

Earnings this week : Oct 23 - 27, 17 (wk 43)