secwatch.observer — SEC 8-K summary
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Issuer:     HELIX ENERGY SOLUTIONS GROUP INC (HLX)
CIK:        0000866829
Form:       8-K
Filed at:   2026-04-23T23:59:59+00:00
Accession:  0000866829-26-000011
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866829/000086682926000011/0000866829-26-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866829/000086682926000011/hlx-20260422x8k.htm
  HTML page:      https://secwatch.observer/filing/0000866829-26-000011

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer