quarter Mark, the joining which with today Thanks our and first-quarter be incremental call today. another operating everybody. good results, sharing Thanks, pleased to efficiency gains. you of for XXXX discipline and morning, We're reflect
transition our outlook efforts. their in our segment on how outlook, carbon While to comments the stable and levels supporting to customers of the next significant has XXXX well developing business activity of OpEx the more of COVID, my and our discipline energy Today, recovery, lower by thereby, demonstrated fundamentals, traditional our thoughts combined performance our as ongoing for several consolidated regard increasing and demand. demand focus with on increasing consolidated plus the with markets the and I'll years. first as services quarter returning with the created second is expectation we're continued most confidence needs improved XXXX, of as, over industry supporting remain XXXX, challenges for of The for products quarter
results. the for Now
our share. to quarter. restructuring $X.X losses our associated focusing reported $X.X revenue continued the share efficiency, performance for operating pre-tax net We've progress first-quarter quality, EBITDA, of adjustments XXXX, operating net during These customers. adjusted I'm first positive loss $X.XX adjusted rate the foreign solutions income generate our $XXX made and exchange adjusted the of we and value-based other consolidated by quarter, of million enabled pleased segments with which included to and $X.XX the expenses, operating EBITDA income our impact and and the million $XXX adjusted on operational XXXX. of $XX.X we $X.X recognized and was on during revised million improve of with led million, to or our our and For first-quarter narrowing safety, Based on $XXX driving Adjusted EBITDA of our per guidance million range million to expected million. a or published as per results estimates. both for outlook, results consensus are by each
of by segment Subsea slightly revenue. SSR business operations at Robotics look let's the first flat Now on operating adjusted or our XXXX. higher quarter for income was
survey the tooling remotely respectively, XX%, was our our to between XX% SSR total and XX/XX and activity. SSR expectation Our of XX% SSR support higher-than-forecast days consistent our The due our margin compared split or the operated our revenue, stable. as and revenue as business ROV activity split to ROV quarters of and exceeded segment in prior remains businesses was pricing percentage with prior recent quarterly combined a original vehicle Operating in quarter. survey drill adjusted EBITDA immediate
days. in offsetting quarter the to expected quarter only the were to to an on XX,XXX, anticipated, decline, services vessel-based as compared due lower ROV on with drill fourth during on XXXX, had fourth the seasonal XX,XXX increase higher as days higher activity. Days we in of days compared As higher slightly decline support
drill support XX% and fourth-quarter versus fleet XX%, use services XX% use fleet and XX% vessel-based respectively. Our was of in in
and quarterly example, reactivation flat pricing our or XXXX. under end was we Average to day systems XXX maintained we XX% hire quarter, activities. the XX as with ROV XX% of XX%, stable. installation the XXX At quarter and slightly continue from floating down March, our Overall, per rigs we count fleet first had on revenue in of the the on contracts contract characterize of XX%, of variances, utilization For ROV in over XXX December fleet ROV ROV of on contract. fourth Subject contracts fourth to higher work we sequential to hire under and $X,XXX to market the had when scopes, our approximate mandates geographic associated $X,XXX for mix generally favorable was on with achieved rigs drill share primarily quarter. expect the revenue support during X% we was The due per increase XX day certain XXst, XXXX, in continue of XX%. floating to
products. Turning manufactured to
operating adjusted X% did declined of operating in had the fourth not occur the from in first businesses mobility XXXX, XXXX in fourth Adjusted chain weak that from our segment and lower decreased quarter in Activity expected first from of contract remain to during quarter which the on first-quarter supply the benefited X% Our quarter. quarter first income margin income as of the revenue. XXXX savings solutions negotiated favorable XXXX. quarter closeouts
backlog XXst, our million, compared $XXX products was March December at XXst, $XXX XXXX of to manufactured XXXX, million. backlog Our
activities ratio the higher of OPG utilization amounts due in income operating of ratio quarter Our revenue. of the and Projects of indirect of in Offshore start-up operating ended the the during higher was of from installation flat work. quarter cost first-quarter to XXXX stable. activity XXXX work of lower offset margin fourth Mexico substantially maintenance, first, IMR sequential fourth on in XXXX. while the to for compared and Revenue or the GOM XXXX December in were or by or intervention The benefited Group for Angola. repair as income book-to-bill field Gulf intervention, amounts holding adjusted a adjusted XX% increased quarter personnel, with of assets from the first X% well relatively of XXXX X.X X.X year, the was rise XXst, with increase as year on project increased book-to-bill
digital management or For solutions and IMDS. integrity
operating margin the in First-quarter was the than where XXXX, how XXXX fourth The adjusted quarter XXXX driving XXXX and of personnel. more which transformation performed, quarter of use work is effective from higher of on in X% fourth revenue. quarter flat of from first income operating and is of benefited X% improvement in adjusted moving income
Our were as that of allocated marginally fourth of operating aerospace the consistent compared and margin on revenue. the defense quarter technologies Adjusted -- first-quarter on or fourth ADTech of for to from adjusted fourth 'XX XXXX. flat was income lower, $XX.X million expenses the improved XX% with achieved quarter. operating of XXXX On income quarter XXXX
of we annual the by in accrued payment operating to specific operating activities, awards million the was related in cash offset good of employee quarter, goals During prior the first mostly as periods performance of utilized incentive performance. $X.X attainment
the $XX.X no million to of and used for during XXXX. cash maturities cash cash addition, reduction growth borrowings $XXX our million were the At we In until November maintenance of the capital largest and million contributors two under end $XXX our $X.X of loan quarter, no and expenditures. cash was These equivalents, the quarter. items facility, revolving million had credit
our million million adjusted higher of quarter our second-quarter $XX improve a the outlook expect basis, to will EBITDA results address with second on $XX On I XXXX revenue. sequentially to XXXX. we of the Now for in consolidated range
first ROV as higher ROV tooling both quarter. projecting first XXXX XXXX, to quarter in For and higher to SSR, higher we our in operating are drive our compared activity second-quarter remain are to is we by anticipate compared survey seasonal EBITDA operations the segment, the activities. days for businesses vessel-based profitability. and on adjusted to drill expected consistent, margin increase SSR to support forecast as
anticipate we and lower products, revenue profitability. manufactured For operating
by energy We award products encouraged are in activity recent our business.
continue to businesses. solutions mobility we expect our in However, muted activity
For operating OPG, we revenue adjusted anticipate higher and results.
Gulf Mexico. quarter. the IMR Riserless is continue And the in pickup activity well in to seasonal a addition, project light on of in through expect expected second Angola, the We in intervention which work
operating operating consistent IMDS, hire of margins revenue results relatively flat, For are first being XXXX. quarter with relatively the with direct
For revenue flat higher results. relatively ADTech, we expect operating and
higher higher revenue. mix. compared geographic are in on be expected lower operating results ROV in mid-XX to following we range. Unallocated in expect days higher of for services generally full-year services consistent SSR, the to by days and change shifts SSR Results with remain to adjusted minor low- expected some space expenses for in operations improve with on those to with growth levels the XXXX. for are XXXX, submarine expected expect ROV segment, from higher. margins on dollar improve achieved Navy, to slightly flat to activity. projected are remain EBITDA with tooling-based activity relatively are adjusted project to expected to flat Directionally, our business. forecasted our Results operational as be a on levels million engineering, mix XXXX expect we and are contribution and repair for U.S. We
higher drill XX% vessel-based range, For remain mid same second ROVs, utilization third during quarters. quarters. seasonally percentages of the We seasonal services to service and we be fleet XXXX, higher second XXXX XX% to mix with to expect high ROV XX% with high in during third -- and and vessel-based generally again, the overall our activity estimate the higher support the for
remain before share continue XX% the drill Oceaneering floating drilling market there approximately rigs XXst, expiring March range in We foreseeable And XX to for ROVs terms support forecast with quarter. the XX future. onboard XXXX, market of our as were for will that the contract third
begin new XX of XX contracts. on our same to the During expect we rigs ROVs floating period,
we energy decreased to result For the manufactured XXXX. adjusted performance year, revenue of expect intake segment primarily in decline order businesses during year products, as operating and a over our
contract XXXX, the to expected of $XXX is wins of We are four XXXX. over which the activity in encouraged, however, drive first million second months half increased with during in
remain from and the are We the mid businesses higher be income book-to-bill muted full XXXX. single-digit see will to X.X for range our of order in in continue marginally expected low the to to solutions operating for We that to margins year contribution the in will mobility XXXX, ratio be range but X.X year. our until forecast and activities segment activity
in us in both muted into Utilization basis to needed lead IMR the higher XXXX. of based continue Gulf the And was activity of to expect the and adversely due year. more and seasonal in spot expected to impacts pickup For through is meaningful in The a on level, more a in in OPG, XXXX, with to increase we revenue. low contributor the intervention delayed of the segment coupled was Most resumption activity the results expected project which in COVID. operating uncertainty in oil of this as owned oil our adjusted XXXX, that enter may which an to Angola, price, business second charters improved on and the we to has improvement a biggest normalized on Mexico, light quarter impacted noticeably, which XXXX. well is point of vessels, stable chartered higher expect Riserless this has the in prices,
been As current much past work has years, the sensitive price. our call to over Gulf in nature of Mexico and out of continues several to case the be therefore oil
expect we increase IMDS, adjusted operating income. in revenue and an For
higher up. of XXXX expect income to contracts single-digit forecast average in the throughout half as quarter we the this in continue booked operating drive year, year. revenue in adjusted first of the the XXXX quarter We the incremental margins business. year, increase Adjusted of and fourth the the efficiency high during on we back for work margin expected our more range as operating that ramp We will to are
ADTech, we operating in with operating consistent XXXX. -- income revenue with operating margins achieved with and those results For higher expect results
see good continue growth subsea We technologies business. in to our defense opportunities
win the the landing change XXXX. work that the disappointed project announced of not potential segment expectations team loss Dynetics were our for on contract not NASA, system does did improvement we recently in with this While human overall
and payments million organic $XX of $XX capital million $XX $XX million approximately growth includes the expenditures. million in to million. expenditure forecast be range We to million XXXX capital income $XX remains XXXX to million. for total million of Our and between $XX maintenance tax to our estimated $XX capital of expenditures, This $XX
Cares expect expenses the during range we are per million addition, expected receive year. In tax in refunds to to average Act million mid-XX the Unallocated quarter. to low- of $XX dollar
XXXX $XXX With cash free in XXXX end million debt and in of Now we maturity. cash generating of at to well-positioned turning the the XXXX, are expectation to of that of sheet. balance our our March address generated excess flow
solutions work models, in vehicle, and the safest maturity. until development actively this and Oceaneering will digital numerous the footprint to digital a a and robotic applications, vessel outfitted to open throughout facility their Jones stated situation And and focused Freedom chain. or comes are January from they optimization, role and available up in our such as achieving increase comments not learning this engines. have fuel-efficient of supply all formulate and of energy to of most we're other November $XXX facilities. these, in just of a machine XXXX XX-plus like enabling a million or play basis businesses, facilities. I'd the as energy our undrawn cleanest, assets, and on necessary state for we And reminder, revolver their and assisting pending especially we freedom efficient manner government-based on few Most, all how and regardless $XXX where form robotic recent customers maintaining years, our until are few a the vehicles. with continue customers a energy million our continue to we've enabling of and There strides we few technologies the role on energy addition important The maintaining wind, class us leveraging The work, past as how now more of available will when in commercialization to commercial machine onshore our our their items. these assist of reliable on continue on to will challenges and opportunities in continued We has carbon non-energy whether in changes our made XXXX. industry. Liberty how whole related to management review each sustainable gas, of address inherent energy. we producing hydrogen. soon-to-be lead. and predictive in And if name integrity an goals, the expected it oil, plays make demand IMDS offshore to and also with we're in is throughout attaining IMDS significant adapt additionally, analytical pivotal done in years, capabilities net-neutral as companies the software-enabled piloting, Act growing focusing forms The remote customers Transforming the goals, vision But carbon delivering developing developing strategy
year us XXXX As our our year, In are energy to goals. proud changes I market indelible past we to focus of you and outlook EBITDA range first-quarter continuing the performance $XXX of and $XXX guidance balance give can an increasing confidence see, for million navigating evolve products, Oceaneering. we support demonstrate have a the summary, societies that to the XXXX, commodity the refreshed offerings for recognize half has footprint back our the activity our to adjusted clean looking customers I has to us continually succeed to for will million. a for narrow environments. improved an Oceaneer, am service and of and The primary value remains price cautiously these ways strong our general and and to years. while in position energy for the also management proposition that And Growing company in have in we're we to our employees the navigating assuming services and who sufficiently are in on macro and improve several businesses environment the levels of evolving shown left the and optimistic also our and resiliency that of remains customers. challenges this would product stable. business challenges, sheet and Despite profitably the strengthened our like quality to
always any vision our wealth a might John. Never the Collins John board the to take Oceaneering on you and shareholders. company now and increasing And our us our improving questions chairman final services appreciate be our you, cash As are of generating product respected be be happy position, reminder, John's the many be and Thank strong positive by free to have returns. we of transform of liquidity interest of safety May continued to in our today. everyone's board. succeeded and Huff, will you continues rolling maintaining net and into and flow have. helped We seen, will focus leadership XXXX, as and committed in compromising in we'll off directors leadership recognized J.
