Oceaneering International, Inc. (OII) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

who will be available on Oceaneering's website. Joining us on the call are Rob Larson, President and Chief Executive Officer, who will be providing our prepared comments, and Alan Curtis, Senior Vice President and Chief Financial Officer. Before we begin, I would like to remind participants that statements we make during this call regarding our future financial performance, business strategy, plans for future operations, and industry conditions are forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act 1995. Our comments today also include non-GAAP financial measures. Additional details and reconciliations to the most directly comparable GAAP financial measures can be found in our first quarter press release. We welcome your questions after the prepared statements. I will now turn the call over to Rod. Good morning, and thanks for joining the call today. As we announced in our earnings release yesterday, we outperformed expectations in the first quarter, with strong results across our energy services and products. In particular, Subsea Robotics, or SSR, demonstrated resilient utilization of remotely operated vehicles, or ROVs, and Offshore Projects Group, or OPG, achieved robust vessel activity, particularly in the Gulf of Mexico and West Africa. In addition, we were proud to announce that our Aerospace and Defense Technologies, or ADTEC segment, was awarded the largest initial contract value in the company history, which is foundational to delivering significant year-over-year operating income growth in 2025 in this segment. Looking ahead to the rest of the year, we remain confident in our outlook, even with recent market uncertainties. Our confidence comes from our first quarter 2025 order intake of ap...