Helix Energy Solutions Group Earnings: Everything You Must Know Now
Helix Energy Solutions Group, Inc. (NYSE:HLX) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Helix Energy Solutions Group, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 65.15% to $0.23 in the quarter versus EPS of $0.66 in the year-earlier quarter.
Revenue: Decreased 49.09% to $201.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Helix Energy Solutions Group, Inc. reported adjusted EPS income of $0.23 per share. By that measure, the company missed the mean analyst estimate of $0.36. It missed the average revenue estimate of $349.3 million.
Quoting Management: Owen Kratz, President and Chief Executive Officer of Helix, stated, “The divestiture of our oil and gas business and the pending sale of our pipelay vessels represent watershed events in the development of Helix. We are better positioned to advance our strategy of growing our Well Intervention and Robotics businesses.”
Key Stats (on next page)…