Loading...
•
Jun 30, 2022
Helix Q2 2022 Earnings Report
Helix reported improved second quarter results driven by seasonal pick-up in utilization in Robotics and Well Intervention operations in the North Sea and completed scheduled maintenance and regulatory inspections on six vessels.
Key Takeaways
Helix Energy Solutions Group reported a net loss of $29.7 million, or $(0.20) per diluted share, for the second quarter 2022, compared to a net loss of $13.7 million, or $(0.09) per diluted share, for the second quarter 2021. Adjusted EBITDA was $16.8 million for the second quarter 2022, compared to $24.8 million for the second quarter 2021.
Second quarter results improved sequentially due to seasonal pick-up in utilization in Robotics and Well Intervention operations in the North Sea.
Completed scheduled maintenance and regulatory inspections on six vessels, including the Q7000 in West Africa.
Continued to de-lever balance sheet with the repayment of 2022 convertible debt.
Closed on the acquisition of the Alliance group of companies on July 1.
Revenue by Segment
Forward Guidance
The company has now issued full-year guidance and believes that all markets are showing signs of recovery, which should result in improved results and outlook.
Positive Outlook
- Prospects for the offshore market are starting to reflect improved activity in line with current commodity prices and outlook.
- Markets are showing signs of recovery, which should result in improved results and outlook.
- Positioned the company for a much stronger second half of 2022 and beyond.
- Acquisition of the Alliance group of companies will add shelf decommissioning capabilities.
- Efforts to position Helix as a preeminent offshore Energy Transition company.
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
Loading earnings performance data...
Loading earnings reaction data...