Oceaneering International, Inc. reported a 5% increase in revenue for the fiscal year ending December 31, 2025, reaching $2.78 billion compared to $2.66 billion in 2024. The company achieved a net income of $354 million, or $3.49 per diluted share, significantly up from $147 million, or $1.44 per diluted share, in the previous year. This growth in profitability was attributed to improved pricing in energy markets and increased operational efficiency across its business segments, particularly in Subsea Robotics and Manufactured Products.
The company’s operational performance showed notable changes across its segments. The Subsea Robotics segment generated $855 million in revenue, up from $830 million in 2024, while the Manufactured Products segment also saw growth, with revenue increasing to $569 million from $556 million. The Offshore Projects Group reported revenue of $616 million, reflecting a rise from $591 million. However, the Integrity Management & Digital Solutions segment experienced a decline in revenue to $284 million from $292 million, primarily due to reduced activity levels.
Strategically, Oceaneering continued to enhance its capabilities through acquisitions, including the purchase of Global Design Innovation Ltd. for approximately $33 million in October 2024. This acquisition is expected to bolster Oceaneering's digital capabilities and expand its service offerings. The company also focused on maintaining a strong cash position, ending the year with $689 million in cash and cash equivalents, an increase of $191 million from the previous year.
In terms of operational metrics, Oceaneering's ROV fleet remained stable at 250 units, with a utilization rate of 65% for the year, down from 67% in 2024. The average number of floating rigs under contract decreased to 137 from 146, indicating a slight contraction in market activity. The company’s workforce comprised approximately 11,100 employees, with a significant portion employed outside the United States, reflecting its global operational footprint.
Looking ahead, Oceaneering anticipates continued growth in its Aerospace and Defense Technologies segment, driven by increased government spending and defense priorities. The company expects its energy-focused businesses to see improved results in the latter half of 2026 as offshore activity picks up. Overall, Oceaneering is positioned to leverage its existing backlog and market fundamentals to drive revenue growth across its segments in the coming year.
About OCEANEERING INTERNATIONAL INC
Oceaneering International is a global technology company providing underwater services, remotely operated vehicles, subsea hardware, and digital solutions primarily for the offshore energy, defense, aerospace, and industrial markets. Its core offerings include subsea robotics, manufactured products, and asset integrity services. Serving energy, defense, and space sectors worldwide, the company leverages advanced technology and engineering expertise to deliver efficient, safe, and innovative solutions.
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