---
schema_version: "secwatch.filing_event.v1"
accession: "0000866829-26-000004"
form_type: "8-K"
ticker: "HLX"
cik: "0000866829"
company_name: "HELIX ENERGY SOLUTIONS GROUP INC"
filed_at: "2026-02-24T23:59:59+00:00"
generated_at: "2026-05-16T00:59:30.330378+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Helix Q4 net income $8.3M, down 63% QoQ; $18.1M impairment; cash $445M

## Summary
- Q4 net income $8.3M ($0.06 diluted) vs Q3 $22.1M ($0.15) and Q4 2024 $20.1M ($0.13). Full year 2025 net income $30.8M ($0.21) vs 2024 $55.6M ($0.36).
- Q4 revenue $334.2M, down 11% QoQ and 6% YoY; Well Intervention revenue fell 20% YoY; full-year revenue $1.29B.
- Adjusted EBITDA Q4 $73.9M (down 29% QoQ); full year $272.0M vs $303.1M in 2024.
- Non-cash impairment of Thunder Hawk oil and gas properties of $18.1M pre-tax in Q4 2025.
- Free cash flow Q4 $107.5M; full year $120.4M. Cash $445.2M, negative net debt $137M. Repurchased 4.6M shares for $30.2M in 2025.

## SEC filing metadata
- accession: 0000866829-26-000004
- form_type: 8-K
- ticker: HLX
- cik: 0000866829
- company_name: HELIX ENERGY SOLUTIONS GROUP INC
- filed_at: 2026-02-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/866829/000086682926000004/0000866829-26-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/866829/000086682926000004/hlx-20260223x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000866829-26-000004
- JSON: https://secwatch.observer/filing/0000866829-26-000004.json
- Plain text: https://secwatch.observer/filing/0000866829-26-000004.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.