Helix Energy reports Q4 EPS 13c, consensus 9c
Reports Q4 revenue $355.13M, consensus $311.66M. CEO Owen Kratz stated, “Our full-year results for 2024 reflect our third consecutive year of revenue and EBITDA growth, with our highest EBITDA since 2014, despite a pull-back in our Shallow Water Abandonment segment. Our Free Cash Flow is the highest in two decades and would have been even higher absent the $58M earnout payment included in our operating cash flows…We completed the restructuring of our balance sheet with the retirement of our remaining convertible notes during the year, and we ended the year in a strong financial position, with significant cash levels and negative net debt. Based on the strength of this market and the value we bring to our customers, we signed new awards that provide over half of our well intervention fleet with contracted work for multiple years as we enter 2025 with strong contract coverage with expected significant improvements over 2024. We continue to execute on our capital allocation framework, and we’ve now repurchased over $40M in our shares and expect to increase repurchases in 2025.”