Helix Energy Solutions Grp Inc Stock Price, News & Analysis

Helix Energy Solutions Group reported a net loss of $19 million, or $(0.13) per diluted share, for Q3 2021, compared to a loss of $13.7 million in Q2 2021. Adjusted EBITDA was $26.5 million, up from $24.8 million in Q2 2021, but down from $52.7 million in Q3 2020. For the nine months ending September 30, 2021, net loss was $35.6 million versus $18 million net income in 2020. Revenues from well intervention decreased by 1% QoQ, while robotics revenues increased by 35%. The company achieved zero net debt and entered into a new long-term revolving credit facility.

Helix Energy Solutions Group, Inc. (NYSE: HLX) will announce its third quarter 2021 results on October 20, 2021, after market close. A live review is scheduled for October 21, 2021, at 9:00 a.m. Central Time, accessible via webcast and teleconference. Participants can join the call at 1-800-785-8944 for U.S. callers or 1-212-231-2910 internationally using the passcode 'Staffeldt'. The results and presentation slides will be available on the official Helix website.

Helix Energy Solutions Group (NYSE: HLX) has secured an $80 million asset-based revolving credit facility to replace its existing credit facility and fully repay a term loan. The facility features a five-year term and offers $45 million for the U.S. and $35 million for the U.K. Initial borrowing is expected to be around $72 million, fluctuating between $30 million and $70 million based on seasonal activity. The financing will enhance Helix's ability to manage operations effectively during its post-capital expansion phase.

Helix Energy Solutions Group (NYSE: HLX) will participate virtually in the Barclays CEO Energy-Power Conference on September 8, 2021. Investors can access the presentation materials on Helix's website at www.HelixESG.com. Based in Houston, Texas, Helix specializes in offshore energy services, particularly in well intervention and robotics operations.

Helix Energy Solutions Group (NYSE: HLX) reported a net loss of $13.7 million, or $(0.09) per share, for Q2 2021, a decline from a net income of $5.5 million in Q2 2020. Revenue for the quarter was $161.9 million, down from $199.1 million year-over-year. Adjusted EBITDA fell to $24.8 million compared to $47.9 million in Q2 2020. For the first half of 2021, Helix reported a net loss of $16.6 million compared to a $6.5 million loss in the same period in 2020. Operating cash flows increased to $52.7 million, reflecting improvements in working capital despite ongoing market challenges.

Helix Energy Solutions Group, Inc. (NYSE: HLX) has appointed T. Mitch Little as a new director on its Board, effective immediately. With over 30 years in the petroleum industry, Mr. Little previously served as Executive Vice President – Operations at Marathon Oil Corporation, leading all operational activities until his retirement in December 2020. He brings significant leadership experience and industry knowledge to Helix. Little will serve as a Class I director, with his term expiring at the next Annual Meeting of Shareholders.

Helix Energy Solutions Group (NYSE: HLX) will announce its second quarter 2021 results on July 26, 2021, after market close. A live webcast and teleconference to discuss these results will occur on July 27, 2021, at 9:00 a.m. CT, accessible via Helix's website or by dialing into the teleconference. The company specializes in offshore energy services, focusing on well intervention and robotics. Further details can be found at www.HelixESG.com.

Helix Energy Solutions Group (NYSE: HLX) will participate virtually in the Tudor, Pickering, Holt & Co. Hotter 'N Hell Conference on June 10, 2021. Investors can access any presentation materials on the company's investor page at www.HelixESG.com. Headquartered in Houston, Texas, Helix provides specialized offshore energy services, focusing on well intervention and robotics operations. This participation underscores Helix's commitment to investor relations and transparency in the energy sector.

Helix Energy Solutions Group (NYSE: HLX) reported a net loss of $2.9 million for Q1 2021, an improvement from a $11.9 million loss in Q1 2020. Adjusted EBITDA rose to $36.2 million from $19.3 million year-over-year. Revenues decreased 10% to $163.4 million, with Well Intervention segment showing a 19% quarterly revenue increase due to improved vessel utilization. Robotics faced a significant 47% revenue decline quarter-over-quarter. Cash and equivalents stood at $204.8 million, and consolidated long-term debt decreased to $336 million. The company aims to de-lever its balance sheet while facing challenging market conditions.