Oceaneering International Beats on Both Top and Bottom Lines

Oceaneering International (NYSE: OII  ) reported earnings on Feb. 13. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Oceaneering International beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share grew significantly.

Gross margins shrank, operating margins grew, net margins increased.

Revenue details
Oceaneering International booked revenue of $780.9 million. The 15 analysts polled by S&P Capital IQ hoped for net sales of $738.0 million on the same basis. GAAP reported sales were 36% higher than the prior-year quarter's $574.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.74. The 19 earnings estimates compiled by S&P Capital IQ predicted $0.72 per share. GAAP EPS of $0.74 for Q4 were 40% higher than the prior-year quarter's $0.53 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 22.1%, 70 basis points worse than the prior-year quarter. Operating margin was 15.2%, 80 basis points better than the prior-year quarter. Net margin was 10.3%, 10 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $704.7 million. On the bottom line, the average EPS estimate is $0.65.

Next year's average estimate for revenue is $3.13 billion. The average EPS estimate is $3.22.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 789 members out of 802 rating the stock outperform, and 13 members rating it underperform. Among 171 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 165 give Oceaneering International a green thumbs-up, and six give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Oceaneering International is outperform, with an average price target of $63.31.

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