secwatch.observer — SEC 8-K summary
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Issuer:     HELIX ENERGY SOLUTIONS GROUP INC (HLX)
CIK:        0000866829
Form:       8-K
Filed at:   2026-02-24T23:59:59+00:00
Accession:  0000866829-26-000004
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866829/000086682926000004/0000866829-26-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866829/000086682926000004/hlx-20260223x8k.htm
  HTML page:      https://secwatch.observer/filing/0000866829-26-000004

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