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Helix Energy Solutions Group reports third quarter results


Published Oct 21, 2015
Helix Energy Solutions Group, Inc.-2

Helix Energy Solutions Group, Inc. reported Adjusted EBITDA of $51.5 million for the third quarter of 2015 compared to $35.7 million in the second quarter of 2015. The company reported net income of $9.9 million, or $0.09 per diluted share, for the third quarter of 2015 compared to net income of $75.6 million, or $0.71 per diluted share, for the same period in 2014 and net loss of $(2.6) million, or $(0.03) per diluted share, in the second quarter of 2015. Net income for the nine months ended September 30, 2015 was $26.9 million, or $0.25 per diluted share, compared with net income of $187.1 million, or $1.77 per diluted share, for the nine months ended September 30, 2014.

Owen Kratz, President and Chief Executive Officer of Helix, stated, 'Improved activity levels in our robotics segment plus strong utilization for the Well Enhancer and Skandi Constructor well intervention vessels led the way for the improved quarter over quarter results. However, industry conditions continue to remain challenging, and we expect Q4 results to be impacted by normal seasonal factors in the North Sea as well as a continuation of the weak industry environment.'

Tags: Helix Energy Solutions




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