Helix Energy Solutions ( (HLX) ) has released its Q4 earnings. Here is a breakdown of the information Helix Energy Solutions presented to its investors.
Helix Energy Solutions Group, Inc., based in Houston, Texas, is an international offshore energy services company specializing in well intervention, robotics, and decommissioning operations, playing a crucial role in the global energy transition. The company reported its fourth quarter and full year 2024 financial results, showcasing a net income of $20.1 million for the fourth quarter and $55.6 million for the full year, marking a significant turnaround from a net loss in the previous year. Key highlights include a 5% increase in annual revenues to $1.36 billion and a notable rise in adjusted EBITDA to $303.1 million, driven by strong performance in the Well Intervention and Robotics segments. Despite challenges in the Shallow Water Abandonment segment, Helix achieved its highest free cash flow in two decades, ending the year with a robust financial position, including significant cash reserves and negative net debt. Looking ahead, Helix’s management remains optimistic, with strong contract coverage for its well intervention fleet and plans to increase share repurchases in 2025, reflecting confidence in sustained growth and value creation.