Oceaneering International Earnings: Here’s Why the Stock is Falling Now

Oceaneering International, Inc. (NYSE:OII) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.24%.

Oceaneering International, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 5.13% to $0.74 in the quarter versus EPS of $0.54 in the year-earlier quarter.

Revenue: Rose 36.01% to $780.95 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Oceaneering International, Inc. reported adjusted EPS income of $0.74 per share. By that measure, the company beat the mean analyst estimate of $0.72. It beat the average revenue estimate of $736.81 million.

Quoting Management: M. Kevin McEvoy, President and Chief Executive Officer, stated, “Our record annual earnings of $289 million and EPS of $2.66 were largely attributable to our global focus on deepwater and subsea completion activity. Each of our five operating business segments attained higher income than in 2011.”

Key Stats (on next page)…

Revenue increased 6.36% from $734.22 million in the previous quarter. EPS decreased 5.13% from $0.78 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.66 to a profit $0.65. For the current year, the average estimate is a profit of $2.64, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)