Oceaneering Posts Best EBITDA Since 2015 Amid Insider Share Sale
Oceaneering International reported its highest adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) since 2015 in the second quarter of this year. The company saw a 10% increase in revenue to $768 million during the period, with all business segments except Integrity Management and Digital Solutions showing growth. CEO Rod Larson described the performance as strong, noting it exceeded guidance expectations. However, insider Earl Childress, Oceaneering’s chief commercial officer, sold nearly 12,701 shares for approximately $593,000 in late July, reducing his direct stake by about 36%. The sale occurred at prices ranging from $46.595 to $46.96 per share and was not tied to options or pre-set trading plans. While the insider transaction has drawn attention due to its timing following strong earnings, analysts suggest it may reflect a strategic move by Childress rather than an indication of business distress. The stock remains about 40% below its 2013 peak despite recent gains.
Topics: insider selling Oceaneering International SEC filing