Helix Energy Solutions Group, Inc. reported a net income of $20.1 million for Q4 2024, a significant improvement from a net loss in Q4 2023. Revenues increased to $355.1 million, driven by strong performance in Well Intervention and Robotics segments, despite a pullback in Shallow Water Abandonment.
Net income for Q4 2024 was $20.1 million, a substantial increase from a net loss of $28.3 million in Q4 2023.
Total revenues for Q4 2024 reached $355.1 million, up from $335.2 million in Q4 2023.
Adjusted EBITDA for Q4 2024 was $71.6 million, slightly higher than $70.6 million in Q4 2023.
Well Intervention revenues increased by $51.6 million quarter-over-quarter, primarily due to fewer transit and mobilization days and higher day rates.
Helix expects continued strong performance in 2025, driven by high contract coverage for its well intervention fleet and anticipated improvements over 2024. The company plans to increase share repurchases in 2025.
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