tiprankstipranks
Helix Energy Loses Steam after Earnings Report
Market News

Helix Energy Loses Steam after Earnings Report

By most accounts, energy stock Helix Energy Solutions (NASDAQ:HLX) should have done better than it did today. It put up a solid earnings report that featured beats all around. Despite this, however, it still lost over 8% in Tuesday’s trading. It turns out that the earnings report had an Achilles’ heel that, when pierced, sent the whole thing plunging.

Granted, the earnings report wasn’t all smiles and sunshine. It posted earnings per share of -$0.03 per share. That was only good news because analysts were expecting -$0.04. Revenue, however, fared much better, coming in at $250.08 million and beating projections of $236.28 million.

The loss was a problem, though not the only one. The most significant problem was the revelation that Helix Energy went cash flow negative in the quarter. Helix reported free cash flow of -$11.7 million. That’s down substantially against the fourth quarter of 2022, where it was at $21.2 million. However, it’s better than it was a year prior when it was -$18 million. That suggests a possible seasonal issue since the two negatives came at the same time over two years.

Analysts, however, are solidly on Helix Energy’s side with four Buy ratings, making it a Strong Buy. Further, HLX stock’s average price target of $12 gives it an upside potential of 66.44%.

Disclosure

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More
Helix Energy Loses Steam after Earnings Report
News On DemandStay up-to-date on market-moving news with a feed made just for youGet the App

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
RUT
Russell 2000
TNX
10-Yr-Bond
Bitcoin

Popular Articles