Helix Energy reports Q1 EPS (9c), consensus (9c)

Reports Q1 revenue $287.95M, consensus $263.91M. Owen Kratz, President and Chief Executive Officer of Helix, stated, “Our first quarter results reflect the expected seasonal slowdown of operations in the North Sea and Gulf of America shelf as well as the costs of the successful workover of our Thunder Hawk field during the quarter. Nonetheless, we generated $59 million of Free Cash Flow and ended the quarter with over half a billion dollars in cash providing Helix with tremendous opportunities. While we face ongoing macro uncertainties and softness in some of the markets we serve, the recent commodity price increases have generated improved demand for our services, and recent government actions in the North Sea have provided a regulatory catalyst to spur decommissioning activities by our customers. Helix continues to expect momentum to build in the offshore market in the latter half of 2026 and into 2027 and is poised to capitalize on those opportunities.”