Helix Energy reports Q2 EPS 21c, consensus 13c

Reports Q2 revenue $364.8M, consensus $339.2M. Owen Kratz, President and Chief Executive Officer of Helix, stated, “We generated strong second quarter 2024 performance, which benefitted from the seasonal pick-up in activity in the North Sea and the Gulf of Mexico shelf and reflected improvements in all segments. Our Robotics segment outperformed during the second quarter, delivering strong results with trenching and renewables operations in the North Sea and Asia Pacific. Our Shallow Water Abandonment segment results continue to reflect the near-term softening in that market. The settlement of the Alliance earn-out obligation this quarter and the recent retirement of our 2026 convertible notes enable us to present financial results and cash flows that more clearly capture our performance. We look forward to further expected improvements in 2025 as we continue to focus on the execution of our Energy Transition strategy in this market.”