Helix Energy reports Q3 EPS 15c, consensus 17c

Reports Q3 revenue $377.0M, consensus $357.3M. Owen Kratz, CEO, stated, “Helix generated strong third quarter 2025 results with EBITDA of $104 million. Our third quarter results provide insight into the earnings potential in our business, where we were able to generate our highest quarterly EBITDA since 2014 despite the Seawell being stacked and incurring almost two months of docking and idle time on the Q4000 amidst a sluggish offshore backdrop. We have increased our full year 2025 Adjusted EBITDA guidance to $240 to $270 million, and while our guidance is still below what we had expected coming into this year, we estimate our full year Free Cash Flow generation to be between $100 and $140 million, the wide range reflecting among other things, the timing of collections on our receivables at year-end. Operational highlights during the quarter include our Robotics segment continuing to perform at a high level, benefitting from strong trenching and renewables operations in the North Sea and Asia Pacific. During the quarter we had all six of our trenchers as well as all three of our IROV boulder grabs deployed. Our Shallow Water segment showed meaningful upticks in activity following a late start to the season this year. On the commercial front, as previously announced, we signed a four-year Robotics contract for trenching operations in the North Sea, and we signed a Well Intervention contract in the Gulf of America for a minimum of 150 days over a three-year period. We believe our third quarter also reinforces the confidence our customers have in our services as well as our resiliency and dedication to delivering results even in a challenging market environment.”