Helix Reports Third Quarter 2024 Results
Helix Energy Solutions (NYSE: HLX) reported Q3 2024 net income of $29.5 million ($0.19 per share), compared to $32.3 million in Q2 2024 and $15.6 million in Q3 2023. Q3 2024 revenues were $342.4 million with adjusted EBITDA of $87.6 million. The company's Well Intervention segment saw decreased revenues due to vessel transit times, while Robotics showed improved performance with higher vessel and ROV activities. Shallow Water Abandonment was impacted by hurricane-related disruptions causing approximately $10 million in revenue loss. The company secured over $800 million in new well intervention contracts, strengthening its future backlog.
Helix Energy Solutions (NYSE: HLX) ha riportato un utile netto per il terzo trimestre del 2024 di $29.5 milioni ($0.19 per azione), rispetto ai $32.3 milioni del secondo trimestre del 2024 e ai $15.6 milioni del terzo trimestre del 2023. I ricavi del terzo trimestre del 2024 sono stati di $342.4 milioni con un EBITDA rettificato di $87.6 milioni. Il segmento di Intervento nei Pozzi ha visto una diminuzione dei ricavi a causa dei tempi di transito delle navi, mentre il settore della Robotica ha mostrato prestazioni migliori con un aumento delle attività delle navi e dei veicoli sottomarini telecomandati (ROV). L'Abbandono in Acque Poche è stato colpito da interruzioni legate all'uragano, causando una perdita di ricavi di circa $10 milioni. L'azienda ha assicurato oltre $800 milioni in nuovi contratti per l'intervento nei pozzi, rafforzando il proprio portafoglio futuro.
Helix Energy Solutions (NYSE: HLX) reportó un ingreso neto de $29.5 millones ($0.19 por acción) para el tercer trimestre de 2024, en comparación con $32.3 millones en el segundo trimestre de 2024 y $15.6 millones en el tercer trimestre de 2023. Los ingresos del tercer trimestre de 2024 fueron de $342.4 millones con un EBITDA ajustado de $87.6 millones. El segmento de Intervención en Pozos experimentó una disminución en los ingresos debido a los tiempos de tránsito de los buques, mientras que el sector de Robótica mostró un desempeño mejorado con un aumento en las actividades de buques y ROV. El Abandono en Aguas Poco Profundas se vio afectado por interrupciones relacionadas con huracanes, que causaron aproximadamente $10 millones en pérdidas de ingresos. La empresa aseguró más de $800 millones en nuevos contratos de intervención de pozos, fortaleciendo su cartera futura.
헬릭스 에너지 솔루션즈 (NYSE: HLX)는 2024년 3분기 순이익이 $2950만 ($0.19 प्रति 주)이라고 보고했으며, 이는 2024년 2분기의 $3230만 및 2023년 3분기의 $1560만과 비교됩니다. 2024년 3분기 수익은 $3억4240만으로 조정된 EBITDA는 $8760만입니다. 회전선이 지연되면서 우물 개입 부문의 수익이 감소했지만 로봇 분야는 선박 및 ROV 활동이 증가하면서 성과가 개선되었습니다. 얕은 수역 방치 부문은 허리케인으로 인한 disruptions에 의해 약 $1000만의 수익 손실이 발생했습니다. 회사는 8억 달러 이상의 새로운 우물 개입 계약을 확보하여 향후 백로그를 강화했습니다.
Helix Energy Solutions (NYSE: HLX) a déclaré un bénéfice net pour le troisième trimestre 2024 de 29,5 millions de dollars (0,19 $ par action), contre 32,3 millions de dollars au deuxième trimestre 2024 et 15,6 millions de dollars au troisième trimestre 2023. Les revenus du troisième trimestre 2024 s'élevaient à 342,4 millions de dollars avec un EBITDA ajusté de 87,6 millions de dollars. Le segment d'Intervention de Puits a connu une baisse de revenus en raison des temps de transit des navires, tandis que le secteur de la Robotique a montré une performance améliorée avec une augmentation des activités de navires et de ROV. L'Abandon en Eaux Peu Profondes a été impacté par des perturbations liées aux ouragans, entraînant environ 10 millions de dollars de perte de revenus. L'entreprise a sécurisé plus de 800 millions de dollars de nouveaux contrats d'intervention de puits, renforçant son carnet de commandes futur.
Helix Energy Solutions (NYSE: HLX) berichtete für das dritte Quartal 2024 einen Nettogewinn von $29,5 Millionen ($0,19 pro Aktie), verglichen mit $32,3 Millionen im zweiten Quartal 2024 und $15,6 Millionen im dritten Quartal 2023. Die Einnahmen für das dritte Quartal 2024 beliefen sich auf $342,4 Millionen mit einem bereinigten EBITDA von $87,6 Millionen. Das Segment der Brunneninterventionen verzeichnete aufgrund der Transitzeiten der Schiffe geringere Einnahmen, während der Bereich Robotik eine verbesserte Leistung mit höheren Aktivitäten im Schiff- und ROV-Bereich zeigte. Der Bereich für die Aufgabe von seichten Gewässern wurde durch wetterbedingte Störungen beeinträchtigt, was zu einem Einnahmenverlust von etwa $10 Millionen führte. Das Unternehmen sicherte sich über $800 Millionen an neuen Verträgen für Brunneninterventionen und stärkte somit seinen zukünftigen Auftragsbestand.
- Net income increased to $29.5M in Q3 2024 vs $15.6M in Q3 2023
- Secured over $800M in new well intervention contracts
- Robotics segment revenues increased 12% YoY to $84.5M
- Achieved negative net debt position of -$9.4M
- Strong liquidity position with $398.8M available
- Q3 2024 revenues decreased 13.5% to $342.4M from $395.7M in Q3 2023
- Adjusted EBITDA declined to $87.6M from $96.9M in Q2 2024
- Hurricane disruptions caused ~$10M revenue loss in Shallow Water segment
- Well Intervention revenues decreased 19% QoQ due to vessel transit time
- Production Facilities revenue declined 19% QoQ due to unplanned well shut-ins
Insights
The Q3 2024 results show mixed performance with notable highlights. Net income of
The company achieved impressive financial metrics despite challenges: negative net debt position of
The Robotics segment stands out with
For the nine months ended September 30, 2024, Helix reported net income of
Summary of Results ($ in thousands, except per share amounts, unaudited) |
|||||||||||||||||||
| Three Months Ended | Nine-Months Ended | ||||||||||||||||||
| 9/30/2024 | 9/30/2023 | 6/30/2024 | 9/30/2024 | 9/30/2023 | |||||||||||||||
| Revenues | $ |
342,419 |
|
$ |
395,670 |
|
$ |
364,797 |
|
$ |
1,003,427 |
|
$ |
954,571 |
|
||||
| Gross Profit | $ |
65,665 |
|
$ |
80,545 |
|
$ |
75,486 |
|
$ |
160,705 |
|
$ |
151,078 |
|
||||
|
19 |
% |
|
20 |
% |
|
21 |
% |
|
16 |
% |
|
16 |
% |
|||||
| Net Income | $ |
29,514 |
|
$ |
15,560 |
|
$ |
32,289 |
|
$ |
35,516 |
|
$ |
17,495 |
|
||||
| Basic Earnings Per Share | $ |
0.19 |
|
$ |
0.10 |
|
$ |
0.21 |
|
$ |
0.23 |
|
$ |
0.12 |
|
||||
| Diluted Earnings Per Share | $ |
0.19 |
|
$ |
0.10 |
|
$ |
0.21 |
|
$ |
0.23 |
|
$ |
0.11 |
|
||||
| Adjusted EBITDA1 | $ |
87,621 |
|
$ |
96,385 |
|
$ |
96,895 |
|
$ |
231,506 |
|
$ |
202,771 |
|
||||
| Cash and Cash Equivalents | $ |
324,120 |
|
$ |
168,370 |
|
$ |
275,066 |
|
$ |
324,120 |
|
$ |
168,370 |
|
||||
| Net Debt1 | $ |
(9,447 |
) |
$ |
58,887 |
|
$ |
43,563 |
|
$ |
(9,447 |
) |
$ |
58,887 |
|
||||
| Cash Flows from Operating Activities | $ |
55,731 |
|
$ |
31,611 |
|
$ |
(12,164 |
) |
$ |
108,051 |
|
$ |
57,720 |
|
||||
| Free Cash Flow1 | $ |
52,645 |
|
$ |
23,366 |
|
$ |
(16,153 |
) |
$ |
97,734 |
|
$ |
41,920 |
|
||||
1 Adjusted EBITDA, Net Debt and Free Cash Flow are non-GAAP measures; see non-GAAP reconciliations below |
Owen Kratz, President and Chief Executive Officer of Helix, stated, “Helix’s third quarter 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
Segment Information, Operational and Financial Highlights ($ in thousands, unaudited) |
|||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||
| 9/30/2024 | 9/30/2023 | 6/30/2024 | 9/30/2024 | 9/30/2023 | |||||||||||||||
| Revenues: | |||||||||||||||||||
| Well Intervention | $ |
182,667 |
|
$ |
225,367 |
|
$ |
224,679 |
|
$ |
623,805 |
|
$ |
522,026 |
|
||||
| Robotics |
|
84,526 |
|
|
75,646 |
|
|
81,249 |
|
|
216,084 |
|
|
194,918 |
|
||||
| Shallow Water Abandonment |
|
71,595 |
|
|
87,272 |
|
|
50,841 |
|
|
149,289 |
|
|
212,959 |
|
||||
| Production Facilities |
|
20,695 |
|
|
24,469 |
|
|
25,400 |
|
|
70,247 |
|
|
68,502 |
|
||||
| Intercompany Eliminations |
|
(17,064 |
) |
|
(17,084 |
) |
|
(17,372 |
) |
|
(55,998 |
) |
|
(43,834 |
) |
||||
| Total | $ |
342,419 |
|
$ |
395,670 |
|
$ |
364,797 |
|
$ |
1,003,427 |
|
$ |
954,571 |
|
||||
| Income (Loss) from Operations: | |||||||||||||||||||
| Well Intervention | $ |
16,109 |
|
$ |
16,120 |
|
$ |
29,299 |
|
$ |
64,087 |
|
$ |
11,357 |
|
||||
| Robotics |
|
24,158 |
|
|
20,665 |
|
|
28,400 |
|
|
58,008 |
|
|
43,226 |
|
||||
| Shallow Water Abandonment |
|
8,808 |
|
|
27,624 |
|
|
(281 |
) |
|
(3,901 |
) |
|
54,208 |
|
||||
| Production Facilities |
|
8,288 |
|
|
8,886 |
|
|
9,097 |
|
|
15,842 |
|
|
21,817 |
|
||||
| Change in Fair Value of Contingent Consideration |
|
- |
|
|
(16,499 |
) |
|
- |
|
|
- |
|
|
(31,319 |
) |
||||
| Corporate / Other / Eliminations |
|
(12,723 |
) |
|
(20,568 |
) |
|
(13,322 |
) |
|
(37,479 |
) |
|
(51,159 |
) |
||||
| Total | $ |
44,640 |
|
$ |
36,228 |
|
$ |
53,193 |
|
$ |
96,557 |
|
$ |
48,130 |
|
||||
Segment Results
Well Intervention
Well Intervention revenues decreased
Well Intervention revenues decreased
Robotics
Robotics revenues increased
Robotics revenues increased
Shallow Water Abandonment
Shallow Water Abandonment revenues increased
Shallow Water Abandonment revenues decreased
Production Facilities
Production Facilities revenues decreased
Production Facilities revenues decreased
Selling, General and Administrative and Other
Selling, General and Administrative
Selling, general and administrative expenses were
Other Income and Expenses
Other expense, net was
Change in Fair Value of Contingent Consideration
Change in fair value of contingent consideration of
Cash Flows
Operating cash flows were
Capital expenditures, which are included in investing cash flows, totaled
Free Cash Flow was
Financial Condition and Liquidity
Cash and cash equivalents were
* * * * *
Conference Call Information
Further details are provided in the presentation for Helix’s quarterly teleconference to review its third quarter 2024 results (see the "For the Investor" page of Helix's website, www.helixesg.com). The teleconference is scheduled for Thursday, October 24, 2024, at 9:00 a.m. Central Time. Investors and other interested parties wishing to participate in the teleconference should dial 1-800-715-9871 within
About Helix
Helix Energy Solutions Group, Inc., headquartered in
Non-GAAP Financial Measures
Management evaluates operating performance and financial condition using certain non-GAAP measures, primarily EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt. We define EBITDA as earnings before income taxes, net interest expense, net other income or expense, and depreciation and amortization expense. Non-cash impairment losses on goodwill and other long-lived assets are also added back if applicable. To arrive at our measure of Adjusted EBITDA, we exclude gains or losses on disposition of assets, acquisition and integration costs, gains or losses related to convertible senior notes, the change in fair value of contingent consideration, and the general provision (release) for current expected credit losses, if any. We define Free Cash Flow as cash flows from operating activities less capital expenditures, net of proceeds from asset sales and insurance recoveries (related to property and equipment), if any. Net Debt is calculated as long-term debt including current maturities of long-term debt less cash and cash equivalents and restricted cash.
We use EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt to monitor and facilitate internal evaluation of the performance of our business operations, to facilitate external comparison of our business results to those of others in our industry, to analyze and evaluate financial and strategic planning decisions regarding future investments and acquisitions, to plan and evaluate operating budgets, and in certain cases, to report our results to the holders of our debt as required by our debt covenants. We believe that our measures of EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt provide useful information to the public regarding our operating performance and ability to service debt and fund capital expenditures and may help our investors understand and compare our results to other companies that have different financing, capital and tax structures. Other companies may calculate their measures of EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt differently from the way we do, which may limit their usefulness as comparative measures. EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt should not be considered in isolation or as a substitute for, but instead are supplemental to, income from operations, net income, cash flows from operating activities, or other income or cash flow data prepared in accordance with GAAP. Users of this financial information should consider the types of events and transactions that are excluded from these measures. See reconciliation of the non-GAAP financial information presented in this press release to the most directly comparable financial information presented in accordance with GAAP. We have not provided reconciliations of forward-looking non-GAAP financial measures to comparable GAAP measures due to the challenges and impracticability with estimating some of the items without unreasonable effort, which amounts could be significant.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding: our plans, strategies and objectives for future operations; any projections of financial items including projections as to guidance and other outlook information; future operations expenditures; our ability to enter into, renew and/or perform commercial contracts; the spot market; our current work continuing; visibility and future utilization; our protocols and plans; energy transition or energy security; our spending and cost management efforts and our ability to manage changes; oil price volatility and its effects and results; our ability to identify, effect and integrate mergers, acquisitions, joint ventures or other transactions, including the integration of the Alliance acquisition and any subsequently identified legacy issues with respect thereto; developments; any financing transactions or arrangements or our ability to enter into such transactions or arrangements; our sustainability initiatives; future economic conditions or performance; our share repurchase program or execution; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to market conditions and the demand for our services; volatility of oil and natural gas prices; results from mergers, acquisitions, joint ventures or similar transactions; results from acquired properties; our ability to secure and realize backlog; the performance of contracts by customers, suppliers and other counterparties; actions by governmental and regulatory authorities; operating hazards and delays, which include delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; the effectiveness of our sustainability initiatives and disclosures; human capital management issues; complexities of global political and economic developments; geologic risks; and other risks described from time to time in our filings with the Securities and Exchange Commission ("SEC"), including our most recently filed Annual Report on Form 10-K, which are available free of charge on the SEC's website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by law.
| HELIX ENERGY SOLUTIONS GROUP, INC. | ||||||||||||||||
| Comparative Condensed Consolidated Statements of Operations | ||||||||||||||||
| Three Months Ended Sep. 30, | Nine Months Ended Sep. 30, | |||||||||||||||
| (in thousands, except per share data) | 2024 |
2023 |
2024 |
2023 |
||||||||||||
| (unaudited) | (unaudited) | |||||||||||||||
| Net revenues | $ |
342,419 |
|
$ |
395,670 |
|
$ |
1,003,427 |
|
$ |
954,571 |
|
||||
| Cost of sales |
|
276,754 |
|
|
315,125 |
|
|
842,722 |
|
|
803,493 |
|
||||
| Gross profit |
|
65,665 |
|
|
80,545 |
|
|
160,705 |
|
|
151,078 |
|
||||
| Gain (loss) on disposition of assets, net |
|
100 |
|
|
- |
|
|
(50 |
) |
|
367 |
|
||||
| Acquisition and integration costs |
|
- |
|
|
- |
|
|
- |
|
|
(540 |
) |
||||
| Change in fair value of contingent consideration |
|
- |
|
|
(16,499 |
) |
|
- |
|
|
(31,319 |
) |
||||
| Selling, general and administrative expenses |
|
(21,125 |
) |
|
(27,818 |
) |
|
(64,098 |
) |
|
(71,456 |
) |
||||
| Income from operations |
|
44,640 |
|
|
36,228 |
|
|
96,557 |
|
|
48,130 |
|
||||
| Net interest expense |
|
(5,689 |
) |
|
(4,152 |
) |
|
(17,057 |
) |
|
(12,567 |
) |
||||
| Losses related to convertible senior notes |
|
- |
|
|
- |
|
|
(20,922 |
) |
|
- |
|
||||
| Other expense, net |
|
(49 |
) |
|
(8,257 |
) |
|
(2,647 |
) |
|
(10,553 |
) |
||||
| Royalty income and other |
|
132 |
|
|
78 |
|
|
2,132 |
|
|
2,116 |
|
||||
| Income before income taxes |
|
39,034 |
|
|
23,897 |
|
|
58,063 |
|
|
27,126 |
|
||||
| Income tax provision |
|
9,520 |
|
|
8,337 |
|
|
22,547 |
|
|
9,631 |
|
||||
| Net income | $ |
29,514 |
|
$ |
15,560 |
|
$ |
35,516 |
|
$ |
17,495 |
|
||||
| Earnings per share of common stock: | ||||||||||||||||
| Basic | $ |
0.19 |
|
$ |
0.10 |
|
$ |
0.23 |
|
$ |
0.12 |
|
||||
| Diluted | $ |
0.19 |
|
$ |
0.10 |
|
$ |
0.23 |
|
$ |
0.11 |
|
||||
| Weighted average common shares outstanding: | ||||||||||||||||
| Basic |
|
151,914 |
|
|
150,550 |
|
|
152,171 |
|
|
151,031 |
|
||||
| Diluted |
|
154,851 |
|
|
153,622 |
|
|
155,038 |
|
|
153,936 |
|
||||
| Comparative Condensed Consolidated Balance Sheets | ||||||
| Sep. 30, 2024 | Dec. 31, 2023 | |||||
| (in thousands) | (unaudited) | |||||
| ASSETS | ||||||
| Current Assets: | ||||||
| Cash and cash equivalents | $ |
324,120 |
$ |
332,191 |
||
| Accounts receivable, net |
|
270,883 |
|
280,427 |
||
| Other current assets |
|
98,934 |
|
85,223 |
||
| Total Current Assets |
|
693,937 |
|
697,841 |
||
| Property and equipment, net |
|
1,511,325 |
|
1,572,849 |
||
| Operating lease right-of-use assets |
|
338,245 |
|
169,233 |
||
| Deferred recertification and dry dock costs, net |
|
74,324 |
|
71,290 |
||
| Other assets, net |
|
43,318 |
|
44,823 |
||
| Total Assets | $ |
2,661,149 |
$ |
2,556,036 |
||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||
| Current Liabilities: | ||||||
| Accounts payable | $ |
142,400 |
$ |
134,552 |
||
| Accrued liabilities |
|
91,767 |
|
203,112 |
||
| Current maturities of long-term debt |
|
9,186 |
|
48,292 |
||
| Current operating lease liabilities |
|
59,866 |
|
62,662 |
||
| Total Current Liabilities |
|
303,219 |
|
448,618 |
||
| Long-term debt |
|
305,487 |
|
313,430 |
||
| Operating lease liabilities |
|
293,393 |
|
116,185 |
||
| Deferred tax liabilities |
|
123,722 |
|
110,555 |
||
| Other non-current liabilities |
|
64,758 |
|
66,248 |
||
| Shareholders' equity |
|
1,570,570 |
|
1,501,000 |
||
| Total Liabilities and Equity | $ |
2,661,149 |
$ |
2,556,036 |
||
| Helix Energy Solutions Group, Inc. | |||||||||||||||||||||
| Reconciliation of Non-GAAP Measures | |||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||
| (in thousands, unaudited) | 9/30/2024 | 9/30/2023 | 6/30/2024 | 9/30/2024 | 9/30/2023 | ||||||||||||||||
| Reconciliation from Net Income to Adjusted EBITDA: | |||||||||||||||||||||
| Net income | $ |
29,514 |
|
$ |
15,560 |
|
$ |
32,289 |
|
$ |
35,516 |
|
$ |
17,495 |
|
||||||
| Adjustments: | |||||||||||||||||||||
| Income tax provision |
|
9,520 |
|
|
8,337 |
|
|
14,725 |
|
|
22,547 |
|
|
9,631 |
|
||||||
| Net interest expense |
|
5,689 |
|
|
4,152 |
|
|
5,891 |
|
|
17,057 |
|
|
12,567 |
|
||||||
| Other expense, net |
|
49 |
|
|
8,257 |
|
|
382 |
|
|
2,647 |
|
|
10,553 |
|
||||||
| Depreciation and amortization |
|
42,904 |
|
|
43,249 |
|
|
43,471 |
|
|
132,728 |
|
|
120,013 |
|
||||||
| EBITDA |
|
87,676 |
|
|
79,555 |
|
|
96,758 |
|
|
210,495 |
|
|
170,259 |
|
||||||
| Adjustments: | |||||||||||||||||||||
| (Gain) loss on disposition of assets, net |
|
(100 |
) |
|
- |
|
|
- |
|
|
50 |
|
|
(367 |
) |
||||||
| Acquisition and integration costs |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
540 |
|
||||||
| Change in fair value of contingent consideration |
|
- |
|
|
16,499 |
|
|
- |
|
|
- |
|
|
31,319 |
|
||||||
| General provision for current expected credit losses |
|
45 |
|
|
331 |
|
|
137 |
|
|
39 |
|
|
1,020 |
|
||||||
| Losses related to convertible senior notes |
|
- |
|
|
- |
|
|
- |
|
|
20,922 |
|
|
- |
|
||||||
| Adjusted EBITDA | $ |
87,621 |
|
$ |
96,385 |
|
$ |
96,895 |
|
$ |
231,506 |
|
$ |
202,771 |
|
||||||
| Free Cash Flow: | |||||||||||||||||||||
| Cash flows from operating activities | $ |
55,731 |
|
$ |
31,611 |
|
$ |
(12,164 |
) |
$ |
108,051 |
|
$ |
57,720 |
|
||||||
| Less: Capital expenditures, net of proceeds from asset sales and insurance recoveries |
|
(3,086 |
) |
|
(8,245 |
) |
|
(3,989 |
) |
|
(10,317 |
) |
|
(15,800 |
) |
||||||
| Free Cash Flow | $ |
52,645 |
|
$ |
23,366 |
|
$ |
(16,153 |
) |
$ |
97,734 |
|
$ |
41,920 |
|
||||||
| Net Debt: | |||||||||||||||||||||
| Long-term debt including current maturities | $ |
314,673 |
|
$ |
227,257 |
|
$ |
318,629 |
|
$ |
314,673 |
|
$ |
227,257 |
|
||||||
| Less: Cash and cash equivalents and restricted cash |
|
(324,120 |
) |
|
(168,370 |
) |
|
(275,066 |
) |
|
(324,120 |
) |
|
(168,370 |
) |
||||||
| Net Debt | $ |
(9,447 |
) |
$ |
58,887 |
|
$ |
43,563 |
|
$ |
(9,447 |
) |
$ |
58,887 |
|
||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20241023375053/en/
Erik Staffeldt, Executive Vice President and CFO
Ph: 281-618-0465
email: estaffeldt@helixesg.com
Source: Helix Energy Solutions Group, Inc.
FAQ
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