Helix reports Q1 net income $3.1M, down 85% from Q4; revenue $278M, down 22% sequentially

HELIX ENERGY SOLUTIONS GROUP INC

2025-Q1 EPS reported $0.02 revenue$278,064,000

Net income $3.1M ($0.02 diluted) vs $20.1M ($0.13) in Q4 2024 and net loss $26.3M in Q1 2024.
Revenue $278M, down from $355M Q4 2024; gross profit $27.5M, down 53% QoQ.
Adjusted EBITDA $52M, down from $71.6M Q4; free cash flow $12M vs $65.5M Q4.
Well Intervention revenue fell 12% QoQ; Robotics down 37%; Shallow Water down 55%.
CEO cites OPEC+ and tariff uncertainty causing customer project pauses, especially in North Sea.

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