OII - Oceaneering Non-GAAP EPS of $0.06 misses by $0.13 revenue of $536.22M misses by $13.07M

• Oceaneering press release ( NYSE: OII ): Q4 Non-GAAP EPS of $0.06 misses by $0.13 .
• Revenue of $536.22M (+14.9% Y/Y) misses by $13.07M .
• Guidance:
• Net income is expected in the range of $75 million to $90 million and consolidated adjusted EBITDA is expected in the range of $260 million to $310 million
• Free cash flow generation is expected in the range of $75 million to $125 million
• Capital expenditures are expected in the range of $90 million to $110 million
• First quarter consolidated adjusted EBITDA is expected in the range of $40 million to $50 million
• Based on 2022 year-end backlog, the expected meaningful increase in backlog conversion, anticipated 2023 order intake, and current market fundamentals, we are projecting our 2023 consolidated revenue to grow by more than 10%, with increased revenue in each of our operating segments, led by Manufactured Products and SSR, the company said.
• We are forecasting our first quarter 2023 adjusted EBITDA to be in the range of $40 million to $50 million, the company said.

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