secwatch.observer — SEC 8-K summary
======================================

Issuer:     HELIX ENERGY SOLUTIONS GROUP INC (HLX)
CIK:        0000866829
Form:       8-K
Filed at:   2024-02-27T23:59:59+00:00
Accession:  0000866829-24-000003
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Helix Q4 net loss $28.3M on $37.3M debt repurchase loss; FY adj. EBITDA up 126% to $273M
--------------------------------------------------------------------------------

- Q4 2023 net loss $28.3M ($0.19 diluted EPS) vs Q3 net income $15.6M ($0.10); revenue $335.2M, down 15% sequentially.
- Full year 2023 revenue $1.29B (+48% YoY); adjusted EBITDA $273.4M (vs $121.0M); net loss $10.8M (vs loss $87.8M).
- Well Intervention rev +26% YoY to $210.7M; Robotics +30%; Shallow Water +8%; Production Facilities -31% (Thunder Hawk shut-in).
- Repurchased $159.8M of 2026 Convertible Notes, incurring $37.3M pre-tax loss; issued $300M senior notes due 2029.
- Cash $332.2M, Net Debt $29.5M; free cash flow $91.9M Q4, $133.8M FY.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866829/000086682924000003/0000866829-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866829/000086682924000003/hlx-20240226x8k.htm
  HTML page:      https://secwatch.observer/filing/0000866829-24-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer