Oceaneering International, Inc. (OII) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, welcome to Oceaneering's first quarter 2026 earnings conference call. My name is Sarah and I will be your conference operator. All lines have been placed on mute to prevent any background noise. There will be a question and answer period after the speaker's remarks. With that, I will now turn the call over to Hilary Frisbee, Oceaneering's Senior Director of Investor Relations. Please go ahead. Thanks, Sarah. Good morning and welcome to Oceaneering's first quarter 2026 results conference call. Today's call is being webcast and a replay will be available on our website. With me today are Rod Larson, President and Chief Executive Officer, and Mike Summerald, Senior Vice President and Chief Financial Officer. Rod and Mike will provide our prepared remarks and then we'll take your questions. Before we begin, please note that statements made on this call about 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 of 1995. Our remarks also include non-GAAP financial measures. Additional details and reconciliations to the most directly comparable GAAP financial measures are included in our first quarter press release, which is available on our website. I'll now turn the call over to Rod. Good morning and thanks for joining the call today. I'm pleased with our first quarter results, which reinforce our confidence in the year ahead. We generated consolidated revenue and adjusted EBITDA consistent with our guidance and drove strong commercial momentum, capturing new awards and extensions across the portfolio. At the segment level, Aerospace and Defense Technologies, or ADTEC, posted significant year-...