Helix Energy Solutions Group, Inc. (HLX) Earnings
Helix Energy Solutions Group, Inc. is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $0.07. HLX has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise +25.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $-0.09 | $-0.09 | +0.0% | $288M | +8.9% |
| Feb 23, 2026 | $-0.02 | $0.06 | +400.0% | $334M | +32.1% |
| Oct 22, 2025 | $0.15 | $0.15 | +0.0% | $377M | +4.2% |
| Jul 23, 2025 | $0.01 | $-0.02 | -300.0% | $302M | -11.8% |
| Apr 23, 2025 | $-0.05 | $0.02 | +140.0% | $278M | -2.5% |
| Oct 23, 2024 | $0.17 | $0.19 | +11.8% | $342M | +9.4% |
| Jul 24, 2024 | $0.13 | $0.21 | +61.5% | $365M | +7.5% |
| Jul 26, 2023 | $0.06 | $0.11 | +81.2% | $309M | -6.5% |
| Feb 20, 2023 | $0.00 | $0.09 | +11742.1% | $288M | +14.5% |
| Jul 25, 2022 | $-0.16 | $-0.20 | -25.0% | $163M | -0.1% |
| Feb 21, 2022 | $-0.17 | $-0.17 | +0.0% | $169M | +25.0% |
| Oct 20, 2021 | $-0.10 | $-0.13 | -30.0% | $181M | +5.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Helix's team had a well-executed quarter with safe and efficient service. Highlights included strong utilization, Thunderhawk field workover, return to two-vessel market in North Sea. Combination of Helix and Hornbeck brings together market leaders, diversified fleet, expanded service offerings, strategic and financial synergies expected, global presence alignment, complementary business offerings, and combined customer base with cross-selling opportunities.
Guidance
Maintaining guidance for 2026: revenue 1.2 billion to 1.4 billion, EBITDA 230 to $290 million, CAPEX 70 million to $80 million, pre-cash flow 100 to $160 million. Key drivers include second half utilization, late season North Sea intervention, strong robotic fleets, stable shallow water abandonment.
Segment performance
Helix's first quarter 2026 revenues were $288 million, with a gross profit of $9 million, resulting in a net loss of $13 million. Adjusted EBITDA for the quarter was $32 million, operating cash flow was $62 million, and free cash flow was $59 million. Cash position was $501 million and liquidity was $612 million at the end of the quarter. Revenue contribution details for segments like well intervention, robotics, shallow water abandonment, etc., were mentioned in the context of seasonal impacts in North Sea and Gulf of America shelf.
Analyst Q&A
Q: Could you bucket the $75 million of synergies a little bit better and initial capture?
A: Majority likely from revenue synergies and cost efficiencies, companies don't overlap much, can offer bundled services.
Q: On $2 billion backlog, duration and makeup?
A: Helix and Hornbeck each about a billion, includes long-term contracts with military and specialty vessels.
Q: On $75 million synergies split between revenue and cost?
A: Not specified yet, majority likely revenue and cost efficiencies.
Q: On capital intensity of OSV business?
A: Strictly deep water, ultra deep water, market equilibrium with potential growth.
Q: On demand in different regions?
A: North Sea has improved utilization and rates, America has production enhancement activity, Brazil has high activity, Mexico has potential growth.
Q: On ROV market tightness and capital spending?
A: ROV market tight, can scale up ROV business quickly, lead time for new ROV is six months.
Q: On Hornbeck net debt?
A: Gross debt around 440 million, net debt around 380 million.
Q: Why good deal for Helix shareholders?
A: Combination creates scale, reduces cost of capital, grows business for significant shareholder value