Helix Energy Solutions (HLX)
NYSE:HLX
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Earnings Data
Report Date
Jul 29, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.08Last Year’s EPS
-0.02Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated solid commercial and financial foundations (strong cash, significant backlog, fleet scale, and clear synergy targets) and positive operational momentum in key businesses (Q4000 utilization, trenching, robotics). These positives were tempered by a Q1 net loss and low gross profit, seasonal headwinds, one-time costs (Thunder Hawk workover) and integration/approval risks related to the proposed all-stock Hornbeck transaction. On balance, the strategic combination and strong liquidity coupled with multi-year backlog and synergy potential outweigh the near-term profitability and execution risks.Company Guidance
Q1 2026 Revenue and Cash Generation
Q1 revenues of $288 million, operating cash flow of $62 million, and free cash flow of $59 million. Cash balance of $501 million and total liquidity of $612 million at quarter end, supporting strong near-term liquidity.
Adjusted EBITDA and 2026 Guidance
Adjusted EBITDA for Q1 was $32 million. Company maintained 2026 guidance: revenue $1.2B–$1.4B (in line with 2025), EBITDA $230M–$290M, CapEx $70M–$80M, and free cash flow $100M–$160M.
Operational Wins and Utilization
Strong utilization of the Q4000 at improved rates; successful workover and recommencement of production at the Thunder Hawk field; reactivation and return-to-service of Seawell resulting in a return to a two-vessel North Sea market and improved utilization expectations for 2026.
Backlog and Contract Visibility
Combined backlog around $2 billion (Helix ~ $1 billion; Hornbeck ~ $1 billion), including long-term military and specialty vessel contracts, providing multi-year revenue visibility.
Hornbeck Contribution and Fleet Scale
Hornbeck 2025 adjusted EBITDA of $288 million and adjusted EBITDA margin of 40%. Hornbeck fleet ~71 vessels with two MPSVs under construction (pro forma 73 vessels) and a fair market value cited at $2.8 billion—materially expanding combined fleet scale.
Expected Synergies and Growth Opportunities
Management estimates $75 million or more of annual cost and revenue synergies within three years post-close, driven by cross-selling, fleet optimization, procurement efficiencies and reduced third-party charters.
ROV / Robotics & Trenching Momentum
Robotics and trenching businesses are busy with booked work into 2026–2027 and contract backlog on trenching out to 2030 and bid pipeline to 2032. ROV build lead time ~6 months, allowing relatively quick capacity scaling.
Combined Financial Upside
By combining 2025 results, the transaction is projected to increase revenue and EBITDA by ~56% and ~106%, respectively, creating a larger platform with low reported funded debt on Helix ($10 million) and significant cash to support growth.
HLX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HLX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 22, 2026 | $9.63 | $9.70 | +0.73% |
Feb 23, 2026 | $9.07 | $10.55 | +16.32% |
Oct 22, 2025 | $6.63 | $6.95 | +4.83% |
Jul 23, 2025 | $6.96 | $5.99 | -13.94% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Helix Energy Solutions (HLX) report earnings?
Helix Energy Solutions (HLX) is schdueled to report earning on Jul 29, 2026, After Close (Confirmed).
What is Helix Energy Solutions (HLX) earnings time?
Helix Energy Solutions (HLX) earnings time is at Jul 29, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HLX EPS forecast?
HLX EPS forecast for the fiscal quarter 2026 (Q2) is 0.08.