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Sep 30, 2024
Helix Q3 2024 Earnings Report
Helix reported third quarter results, reflecting financial, operational, and commercial strength.
Key Takeaways
Helix Energy Solutions Group reported a net income of $29.5 million for the third quarter of 2024, compared to $15.6 million for the third quarter of 2023. The company's Robotics segment performed strongly, while the Well Intervention segment was impacted by mobilization days. Despite weather disruptions in the Gulf of Mexico affecting the Shallow Water Abandonment segment, Helix secured significant well intervention contracts.
Helix's third quarter 2024 results reflect its strength financially, operationally and commercially.
Robotics segment continues to perform at a high level, benefitting from strong trenching and renewables operations in the North Sea and Asia Pacific.
Well Intervention segment performed well even though impacted by 105 mobilization days on the Q4000 transiting to West Africa and the Q7000 transiting in Australia.
Entered into three well intervention contracts that increased backlog by over $800 million and provide contract coverage for multiple years into the future.
Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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