Welcome to our dedicated page for HORNBECK OFFSHORE SERVICES SEC filings (Ticker: HLX), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Our SEC filing database is enhanced with expert analysis from Rhea-AI, providing insights into the potential impact of each filing on HORNBECK OFFSHORE SERVICES's stock performance. Each filing includes a concise AI-generated summary, sentiment and impact scores, and end-of-day stock performance data showing the actual market reaction. Navigate easily through different filing types including 10-K annual reports, 10-Q quarterly reports, 8-K current reports, proxy statements (DEF 14A), and Form 4 insider trading disclosures.
Designed for fundamental investors and regulatory compliance professionals, our page simplifies access to critical SEC filings. By combining real-time SEC filing updates, Rhea-AI's analytical insights, and historical stock performance data, we provide comprehensive visibility into HORNBECK OFFSHORE SERVICES's regulatory disclosures and financial reporting.
Helix Energy Solutions Group files its annual report describing a diversified offshore energy services business focused on well intervention, robotics, shallow-water abandonment and production facilities across the Gulf of America, Brazil, the North Sea, West Africa and Asia Pacific.
The company reports contract backlog of $1.3 billion as of December 31, 2025, with $694 million expected to be performed in 2026, and notes revenue concentration with major customers such as Shell and Petrobras. Robotics work for offshore renewables made up 49% of segment revenues in 2025, underscoring growing exposure to wind and other projects.
Helix highlights sustainability governance, climate and safety initiatives, and detailed human capital data, including 2,212 employees and a global voluntary annual turnover rate of 13% as of December 31, 2025. The filing also outlines extensive market, operational, financial, legal and environmental risk factors that could materially affect future results.
Helix Energy Solutions Group reported weaker earnings but strong cash generation for the fourth quarter and full year 2025. Fourth quarter net income was $8.3 million, or $0.06 per diluted share, down from $22.1 million, or $0.15, in the prior quarter, including a non-cash impairment of about $18.1 million on certain oil and gas properties. Fourth quarter Adjusted EBITDA was $73.9 million, versus $103.7 million in the third quarter.
For 2025, net income was $30.8 million, or $0.21 per diluted share, compared to $55.6 million, or $0.36, in 2024. Full-year revenue was $1.29 billion versus $1.36 billion, and Adjusted EBITDA was $272.0 million versus $303.1 million. Despite lower profit, Helix generated Free Cash Flow of $120.4 million in 2025, including over $100 million in the fourth quarter, ending the year with cash of $445.2 million and negative Net Debt of $137.2 million. The company repurchased 4.6 million shares for approximately $30.2 million.
Helix Energy Solutions Group, Inc. entered into Amendment No. 2 to its Strategic Alliance Agreement with multiple Schlumberger-affiliated entities on February 12, 2026. This amendment extends their existing subsea well intervention alliance by nine months, moving the expiration date from January 5, 2026 to October 5, 2026.
The alliance covers the global design, development, manufacturing, promotion, marketing and sale of integrated equipment and services for subsea well intervention systems, signaling continued collaboration between Helix and its partners for at least the extended term.
Helix Energy Solutions Group reported insider equity activity for its VP and Chief Accounting Officer on Form 4. The filing shows multiple transactions on January 1, 2026 and January 3, 2026 related to restricted stock unit (RSU) vesting and associated tax withholding in company common stock.
Portions of previously granted 2023, 2024 and 2025 RSUs vested on these dates, with shares issued and some shares forfeited at prices of $6.27 and $6.40 to satisfy tax obligations. Following these transactions, the reporting person continued to hold common stock directly.
The filing also discloses a new 2026 RSU award of 31,898 restricted stock units under the company’s long-term incentive plan. These 2026 RSUs are scheduled to vest in three equal installments on January 1, 2027, January 1, 2028 and January 1, 2029, and upon vesting the compensation committee may choose to settle the value in cash.
Helix Energy Solutions Group executive vice president, general counsel and secretary Ken Neikirk reported equity compensation activity, including vesting and new awards of restricted stock units (RSUs) and performance share units (PSUs). On January 1, 2026, portions of his 2024 and 2025 RSU grants vested, and on January 3, 2026, the final tranche of his 2023 RSUs vested; in each case, the compensation committee elected to pay the vested value in cash instead of issuing shares.
Neikirk received a new 2026 RSU award of 83,732 units that are scheduled to vest in three equal installments on January 1 of 2027, 2028 and 2029, with the committee able to settle each vesting in cash at its discretion. He also received a 2026 PSU award tied to company performance from January 1, 2026 through December 31, 2028, with a maximum of 167,464 shares (200% of the target PSUs) that may be earned and paid no later than March 15, 2029, again at the committee’s option in cash.
Helix Energy Solutions Group reported equity compensation activity for its EVP & CFO on Form 4. On January 1, 2026, restricted stock units granted in 2024 and 2025 vested in part, covering 21,077 and 26,466 units, respectively, and the Compensation Committee chose to pay the value of these vested portions in cash rather than delivering common shares.
Also on January 1, 2026, the executive received a new 2026 RSU award of 125,199 units and a 2026 PSU performance share award tied to company performance from January 1, 2026 through December 31, 2028. The filing notes that up to 250,398 shares may be earned for the 2026 PSUs, representing 200% of the granted amount, with settlement to occur no later than March 15, 2029 and potentially in cash at the committee’s discretion.
On January 3, 2026, the final one-third of a 2023 RSU grant, covering 29,359 units, also vested, and the committee again elected cash payment instead of issuing stock.
Helix Energy Solutions Group reported equity compensation changes for its EVP & COO. On January 1, 2026, the officer received a new grant of 109,649 Restricted Stock Units ("2026 RSUs") and a Performance Share Unit award of 219,298 potential shares, representing 200% of the 2026 PSU target as the maximum that may be earned based on company performance from January 1, 2026 through December 31, 2028. The 2026 RSUs are scheduled to vest in three equal installments on January 1, 2027, January 1, 2028, and January 1, 2029, while any 2026 PSUs earned are payable no later than March 15, 2029. The filing also notes that for previously granted 2023, 2024 and 2025 RSUs, the Compensation Committee elected to pay in cash the value of portions that vested on January 1, 2026 and January 3, 2026 instead of delivering shares.
Helix Energy Solutions Group President and CEO, who is also a director, reported multiple equity compensation events. On January 1, 2026, previously granted restricted stock units from 2024 and 2025 vested in part, and the Compensation Committee chose to pay the value of those vested units in cash rather than issuing shares.
On the same date, the CEO received a new grant of 287,081 restricted stock units (2026 RSUs), scheduled to vest in three equal annual installments on January 1 of 2027, 2028 and 2029, with the Committee able to settle each vesting in cash. He also received a 2026 performance share unit (PSU) award, with the number of shares ultimately earned ranging from 0% to 200% of the target based on company performance from January 1, 2026 through December 31, 2028, and payment due no later than March 15, 2029, again at the Committee’s discretion in cash. Additional 2023 RSUs vested on January 3, 2026 and were likewise paid in cash.
Helix Energy Solutions Group announced an executive leadership transition as President and CEO Owen Kratz informed the board of his intention to retire. He plans to continue serving as CEO until the board appoints a successor to support continuity and a smooth transition.
The company also issued a press release on December 17, 2025 describing the leadership change, which is furnished as Exhibit 99.1 to this report.
Helix Energy Solutions Group reported insider equity activity by one of its directors. On 12/10/2025, the director received a restricted stock award of 20,690 shares of common stock under the company’s 2005 Long Term Incentive Plan, which carries no purchase or sales price.
On 12/11/2025, 5,506 shares of common stock were forfeited at $7.25 per share to satisfy tax obligations related to the vesting of the restricted stock award. Following these transactions, the director directly beneficially owns 121,663 shares of Helix Energy Solutions Group common stock.