Oceaneering Posts Q3 Loss

Oceaneering International has reported a net loss of $66.0 million, or $(0.67) per share, on revenue of $519 million for the three months ended September 30, 2018. 

Adjusted net loss was $13.9 million, or $(0.14) per share, excluding the impact of $56.5 million of certain tax adjustments, the after-tax effects of a $9.3 million gain realized on the sale of a minority interest investment, and $3.7 million of foreign currency exchange losses.

During the corresponding period in 2017, the company reported net loss of $1.8 million, or 2 cents per share, on revenue of $476 million.

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