Helix Q2 net income $22.7M, revenue up 21% YoY; merger with Hornbeck on track for Sept 1

HELIX ENERGY SOLUTIONS GROUP INC

Net income of $22.7M ($0.15 diluted EPS) vs net loss of $2.6M in Q2 2025; revenue $304M, up 21% YoY.
Adjusted EBITDA $69.9M, more than double Q1 2026's $32.3M; free cash flow $46.7M.
Merger with Hornbeck expected to close Sept 1, 2026, subject to shareholder vote Aug 31; annual guidance withdrawn.
Cash and cash equivalents $652.2M; net debt negative $347.9M (net cash position).
Well Intervention revenue $208.1M, up 33% YoY; Production Facilities revenue up 74% YoY on Thunder Hawk restart.

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