---
schema_version: "secwatch.filing_event.v1"
accession: "0000866829-26-000011"
form_type: "8-K"
ticker: "HLX"
cik: "0000866829"
company_name: "HELIX ENERGY SOLUTIONS GROUP INC"
filed_at: "2026-04-23T23:59:59+00:00"
generated_at: "2026-05-15T04:45:22.467269+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000866829-26-000011
- form_type: 8-K
- ticker: HLX
- cik: 0000866829
- company_name: HELIX ENERGY SOLUTIONS GROUP INC
- filed_at: 2026-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/866829/000086682926000011/0000866829-26-000011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/866829/000086682926000011/hlx-20260422x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000866829-26-000011
- JSON: https://secwatch.observer/filing/0000866829-26-000011.json
- Plain text: https://secwatch.observer/filing/0000866829-26-000011.txt

## Key facts
- Earnings Releases
  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: $(0.09) per diluted share
  - Result: reported results
  source text: of Results ​ ($ 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 ​ $
  evidence_url: https://www.sec.gov/Archives/edgar/data/866829/000086682926000011/0000866829-26-000011-index.htm

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