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Dec 31, 2023
Helix Q4 2023 Earnings Report
Helix reported a net loss for Q4 2023, but achieved the highest fourth quarter EBITDA since 2013.
Key Takeaways
Helix Energy Solutions Group reported a net loss of $28.3 million for the fourth quarter of 2023. However, the company's adjusted EBITDA reached $70.6 million, marking the highest fourth quarter EBITDA since 2013. The results were driven by high utilization in the Well Intervention business, offsetting seasonal slowdowns in Robotics and Shallow Water Abandonment segments.
Net loss for Q4 2023 was $28.3 million, or $(0.19) per diluted share.
Adjusted EBITDA for Q4 2023 was $70.6 million, compared to $49.2 million in Q4 2022.
Well Intervention business operated with high utilization, offsetting seasonal slowdowns.
Company initiated capital structure transformations, issuing senior notes and repurchasing convertible notes.
Forward Guidance
2024 will not be without its challenges, but we believe we are well-positioned to capitalize on this strong market and to continue executing our strategy into the future.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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