Helix Q1 2026 net loss of $13.4M vs year-ago profit; revenue up but costs weigh

HELIX ENERGY SOLUTIONS GROUP INC

2026-Q1 EPS reported -$0.09 vs consensus -$0.08 ▼ miss (-16.6%)

Diluted EPS of ($0.09) vs $0.02 in Q1 2025; net loss of $13.4M vs net income of $3.1M a year ago.
Revenue $287.9M, up 4% YoY; but gross profit fell to $8.8M (3% margin) from $27.5M (10% margin).
Adjusted EBITDA dropped to $32.3M from $52.0M in Q1 2025; free cash flow was $59.0M.
Well Intervention revenue rose 16% QoQ to $209.4M, but operating income fell $1.4M on Thunder Hawk workover costs.
Cash and cash equivalents $501.3M; net debt negative $197.5M; total liquidity $611.7M.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HELIX ENERGY SOLUTIONS GROUP INC reported first quarter 2026 results: revenue $ 287,946, net income $(0.09) per diluted share, EPS $(0.09) per diluted share.

Period: first quarter 2026
Revenue: $ 287,946
Net income: $(0.09) per diluted share
EPS: $(0.09) per diluted share
Result: reported results

Exact text from the filing

of Results ($ in thousands, except per share amounts, unaudited) Three Months Ended 3/31/2026 3/31/2025 12/31/2025 Revenues $ 287,946 $ 278,064 $ 334,162 Gross Profit $ 8,828 $ 27,538 $ 50,663 3 % 10 % 15 % Net Income (Loss) $ (13,406) $ 3,072 $ 8,270 Basic Earnings (Loss) Per Share $

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Source: SEC EDGAR

accession 0000866829-26-000011

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