Helix Energy Q2 revenue misses estimates, withdraws annual guidance

Hornbeck Offshore Services

06/08/2026 13:10

Overview
Offshore energy services firm's Q2 revenue rose 21% yr/yr but missed analyst expectations
Company posted Q2 net income of $22.7 mln, reversing losses from prior periods

Outlook
Helix is withdrawing its previously issued annual guidance due to the pending Hornbeck merger
Company expects merger with Hornbeck to be completed promptly after August 31, 2026, subject to conditions
Helix says positive international activity is offsetting weaker domestic output in current business performance

Result Drivers
WELL INTERVENTION UTILIZATION - Higher vessel utilization and incremental margins in the North Sea offset reduced output from Q7000, Q4000 and Sea Helix 1, per company
ROBOTICS ACTIVITY - Increased trenching and ROV operations drove higher Robotics revenue and operating income sequentially, per company
THUNDER HAWK FIELD - Production Facilities segment benefited from recommencement of Thunder Hawk field operations, resulting in higher oil and gas production and prices, per company

Company press release: ID:nBw6xQqS9a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$304.02 mln
$325.69 mln (4 Analysts)
Q2 EPS
 
$0.15
 
Q2 Net Income
 
$22.72 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy"
Wall Street's median 12-month price target for Helix Energy Solutions Group Inc is $13.50, about 44.8% above its August 5 closing price of $9.32
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 26 three months ago

Reuters Recommended Reads
Aug 5 - Valaris Q2 revenue rises 16% net income returns to profit
Aug 3 - Tidewater Q2 net income drops on higher costs; updates revenue, margin guidance
Aug 6 - SBM Offshore raises outlook again as revenue more than doubles

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)