Helix Energy reports Q3 EPS 19c, consensus 17c

Reports Q3 revenue $342.42M, consensus $362.42M. CEO Owen Kratz stated, “Helix’s Q3 2024 results reflect its strength financially, operationally and commercially. Our Robotics segment continues to perform at a high level, benefitting from strong trenching and renewables operations in the North Sea and Asia Pacific. Our Well Intervention segment performed well even though impacted by 105 mobilization days on the Q4000 transiting to West Africa and the Q7000 transiting in Australia. We achieved our strong third quarter results despite significant weather disruptions in the Gulf of Mexico, which have negatively impacted our Shallow Water Abandonment segment during the quarter, and lower oil and gas production due to shut-ins on some of our offshore wells. During the quarter, we also entered into three well intervention contracts that increased our backlog by over $800M and provide contract coverage for multiple years into the future. Overall, we believe our third quarter performance and achievements display our steadfast execution of our strategy, the confidence our customers have in our services and the strength of this market.”