Oceaneering International Continued to Muddle Along in Q2
Oceaneering International (NYSE: OII) continues to battle through a challenging oil-field services market. Oil prices remain volatile, which was on full display during the second quarter as crude plunged by more than 20% for the second time in a year. That's leading oil producers to be much more cautious, which is impacting oil-field service activity levels.
However, despite that turbulence, Oceaneering's financial results came in about where it expected during the quarter. The company did further narrow its guidance range, though, this time cutting a bit off the top end as some project work failed to materialize.
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