Oceaneering International Inc (OII) Q4 2019 Earnings Call Transcript

Oceaneering International Inc (OII) Q4 2019 Earnings Call Transcript

I would like to welcome everyone to Oceaneering's Fourth Quarter and Full Year 2019 Earnings Conference Call.. Good morning, everyone, and welcome to Oceaneering's fourth quarter and full year 2019 results conference call.. With me on the call today are Rod Larson, President and Chief Executive Officer, who will be providing our prepared comments; Alan Curtis, Chief Financial Officer; and Marvin Migura, Senior Vice President.. Good morning, and thanks for joining the call today.. Free cash flow also improved in 2019, the first year-over-year increase we have seen in this measure since 2015.. Today, I'll focus our comments on our performance for the fourth quarter and the full year of 2019, our market outlook for 2020, our continuing commitment to capital discipline, operational improvement and expectation to generate significant positive free cash flow in 2020, and our business segment outlook for the first quarter and full year of 2020.. In our press release, for the fourth quarter, we reported a net loss of $263 million or minus $2.66 per share on revenue of $561 million.. Our fourth quarter results reflect higher activity levels and we were encouraged that four of our five operating segments recorded sequential improvements in adjusted operating