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Jun 30, 2020
Helix Q2 2020 Earnings Report
Reported net income with improvements in robotics and well intervention segments
Key Takeaways
Helix Energy Solutions Group reported net income of $5.5 million for the second quarter of 2020, compared to $16.9 million for the same period in 2019. Adjusted EBITDA was $47.9 million for the second quarter 2020, compared to $50.3 million for the second quarter 2019. The company saw improvements due to the resumption of its long-term contract on the Q5000, the seasonal pick-up in the North Sea, and the continued expansion of its Robotics business into renewable energy operations.
Net income was $5.5 million, or $0.04 per diluted share.
Adjusted EBITDA was $47.9 million.
Well Intervention revenues increased due to higher vessel and IRS utilization in the Gulf of Mexico.
Robotics revenues increased due to increased vessel days and seasonal improvement in trenching activity.
Revenue by Segment
Forward Guidance
For the balance of 2020, the company expects to face headwinds due to the pandemic and are addressing them head-on.
Positive Outlook
- Efforts will help generate free cash flow.
- Balance sheet will be protected during this challenging time.
Challenges Ahead
- COVID-19 pandemic has added new challenges to the markets.
- Logistics and staffing are now paramount considerations.
- Customers are reducing spending.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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