Thread regarding Oceaneering International Inc. layoffs

Oceaneering is a joke...

Oceaneering is a joke. RL is letting go of all the people that had there for over 20 years. He is hiring all his buddy from Baker Hughes. I say 80 percent of the SVP is Ex-Baker Hughes cause Baker Hughes has no use for them. Just a waste of money.

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| 5641 views | | 7 replies (last April 21, 2021)
Post ID: @OP+14Qd9CG2

7 replies (most recent on top)

RL is ki––––g Oceaneering, just the same way he did Baker .

Destroying the livelihood of thousands of people

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Post ID: @5Ddrn+14Qd9CG2

Energy Thoughts for February 25, 2021

Tudor, Pickering, Holt & Co.
OII Q4’20 Quick Look

Couldn’t have scripted it better, outstanding all-around outcome

Sector: Oil Service | Ticker: OII | Recommendation: BUY | Target: NA | Close: $10.90

Wow, where to begin! Simply put, this was an absolutely gangbusters quarter from OII on essentially all fronts. As it relates to Q4’20, the company smashed earnings expectations (adjustedEBITDA ~$47MM vs. TPH/Street $34MM/$33MM) with results across all five of OII’s operating segments beating our estimates. Particularly impressive was fact that all five operating segments posted sequential EBITDA (and op. income) growth despite three segmentsposting lower revenue q/q. Furthermore, Q4’20 FCF of ~$89MM (vs. Street $47MM) proved phenomenal, with W/C inflows providing a much larger cash tailwind than we previously envisioned. But that’s not all…forward outlook commentary was also highly encouragingwith OII now guiding to Q1’21 EBITDA of ~$45-50MM (vs. TPH/Street $39MM/$36MM), FY’21 EBITDA of ~$160-210MM (vs. TPH/Street $169MM/$161MM), and healthy FY’21 FCF in excess of the ~$76MM generated during FY’20. Importantly, this improved profitability outlook(vs. current TPH/Street estimates) is based off a flattish y/y revenue outlook (~in-line vs. TPH), clear evidence of the significant, structural cost-out actions OII has enacted over the past 12-months. It also highlights strong operating leverage in the bizif/as revenue/activity begins to trend higher FY’22+. We recently wrote that we expected this stock to reach/eclipse the ~$15/shr mark over the next 12-months and our confidence in that outcome has notably increased following this exceptional Q4’20 earningsrelease. Get you some.

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Post ID: @4Xphs+14Qd9CG2

Unfortunately the COVID crisis has given RL another excuse for his incompetence and greed. His video grandly announcing the sacrifices he and his cronies are making with their 10% salary reductions was a joke. Notice no mention was made to foregoing bonuses and other C-suite and BoD perks. If their compensation was tied to company performance they'd all be broke in a month.

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Post ID: @6cyb+14Qd9CG2

The $64m question is....is Chuck any better than RL? Nothing seems to be changing.

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Post ID: @5zuu+14Qd9CG2

I agree. This is not new behavior by RL. He wasted millions buying up sub par companies. Allowed the only knowledgeable middle and senior management to leave or laid them off and now is left with a shell run by yes men. Titanic.

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Post ID: @3cjo+14Qd9CG2

And that’s why OI is tanking, no suitable middle management and inept senior management.

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Post ID: @2unq+14Qd9CG2

He's sadly been doing that since the day he started

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Post ID: @qxf+14Qd9CG2

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