Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations.

Company profile
Ticker
HLX
Exchange
Website
CEO
Owen Kratz
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Former names
CAL DIVE INTERNATIONAL INC
SEC CIK
Corporate docs
Subsidiaries
Cal Dive I-Title XI, Inc. • Deepwater Abandonment Alternatives, Inc. • Energy Resource Technology • ERT Camelot Limited • Helix do Brasil Serviços de Petróleo Ltda. • Helix Energy • Helix Offshore Crewing Services Limited • Helix Offshore Crewing Services PTE. Ltd. • Helix Offshore Energy • Helix Offshore Holdings Ltd. ...
IRS number
953409686
HLX stock data
News

Benzinga's Top Ratings Upgrades, Downgrades For July 27, 2022
27 Jul 22
Evercore ISI Group Upgrades Helix Energy Solutions Gr to Outperform, Raises Price Target to $8
27 Jul 22
Earnings Scheduled For July 25, 2022
25 Jul 22
Preview: Helix Energy Solutions Gr's Earnings
22 Jul 22
Stocks That Hit 52-Week Lows On Thursday
14 Jul 22
Press releases
Thinking about buying stock in Sundial Growers, Marathon Digital, Riot Blockchain, Acutus Medical, or Helix Energy Solutions?
27 Jul 22
Helix Reports Second Quarter 2022 Results
25 Jul 22
Helix Announces Second Quarter 2022 Earnings Release Date and Conference Call Information
15 Jul 22
Helix Energy Solutions Announces Completion of Acquisition of Alliance and Amendment to its ABL Facility
5 Jul 22
Analyst ratings and price targets
Calendar
27 Jul 22
12 Aug 22
31 Dec 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
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Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 263.1M | 263.1M | 263.1M | 263.1M | 263.1M | 263.1M |
Cash burn (monthly) | 13.19M | 4.34M | 9.42M | 10.02M | 1.95M | (no burn) |
Cash used (since last report) | 18.9M | 6.22M | 13.5M | 14.35M | 2.79M | n/a |
Cash remaining | 244.2M | 256.88M | 249.6M | 248.75M | 260.31M | n/a |
Runway (months of cash) | 18.5 | 59.2 | 26.5 | 24.8 | 133.7 | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
22 Jul 22 | Thomas Mitchell Little | Common Stock | Payment of exercise | Dispose F | No | No | 2.65 | 3,520 | 9.33K | 68,204 |
1 Jul 22 | Gatti Amerino | Common Stock | Grant | Acquire A | No | No | 0 | 7,813 | 0 | 152,085 |
1 Jul 22 | Thomas Mitchell Little | Common Stock | Grant | Acquire A | No | No | 0 | 7,054 | 0 | 71,724 |
1 Apr 22 | Gatti Amerino | Common Stock | Grant | Acquire A | No | No | 0 | 5,067 | 0 | 144,272 |
1 Apr 22 | Rask Jan A | Common Stock | Grant | Acquire A | No | No | 0 | 5,230 | 0 | 378,795 |
Institutional ownership, Q1 2022
94.0% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 193 |
Opened positions | 190 |
Closed positions | 0 |
Increased positions | 1 |
Reduced positions | 1 |
13F shares | Current |
---|---|
Total value | 707.31M |
Total shares | 142.65M |
Total puts | 35.8K |
Total calls | 177.6K |
Total put/call ratio | 0.2 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 24.42M | $116.73M |
Vanguard | 13.2M | $63.09M |
Victory Capital Management | 8.01M | $38.21M |
Dimensional Fund Advisors | 7.73M | $36.95M |
Integrated Core Strategies | 7.59M | $61.37M |
Van Eck Associates | 7.41M | $35.4M |
STT State Street | 7.2M | $34.42M |
BK Bank Of New York Mellon | 6.81M | $32.56M |
MCQEF Macquarie | 5.43M | $25.97M |
IVZ Invesco | 5.42M | $25.92M |
Financial report summary
?Competition
Oceaneering InternationalRisks
- Our business is adversely affected by low oil and gas prices, which occur in a cyclical oil and gas market that continues to experience volatility.
- The ongoing COVID-19 pandemic could continue to disrupt our operations and adversely impact our business and financial results.
- We are subject to the effects of changing prices.
- Our backlog may not be ultimately realized for various reasons, and our contracts may be terminated early.
- A large portion of our current backlog is concentrated in a small number of long-term contracts that we may fail to renew or replace.
- Our operations involve numerous risks, which could result in our inability or failure to perform operationally under our contracts and result in reduced revenues, contractual penalties and/or contract termination.
- Our customers and other counterparties may be unable to perform their obligations.
- We may own assets with ongoing costs that cannot be recouped if the assets are not under contract, and time chartering vessels requires us to make ongoing payments regardless of utilization of and revenue generation from those vessels.
- Asset upgrade, modification, refurbishment, repair, dry dock and construction projects, and customer contractual acceptance of vessels, systems and other equipment, are subject to risks, including delays, cost overruns, loss of revenue and failure to commence or maintain contracts.
- We may not be able to compete successfully against current and future competitors.
- The actual or perceived lack of sustainability of the oil and gas sector, or our failure to adequately implement and communicate ESG initiatives that demonstrate our own sustainability, may adversely affect our business.
- Failure to protect our intellectual property or other technology may adversely affect our business.
- Our North Sea business typically declines in the winter, and weather can adversely affect our operations.
- The operation of marine vessels is risky, and we do not have insurance coverage for all risks.
- Our oil and gas operations involve a high degree of operational, contractual and financial risk, particularly risk of personal injury, damage, loss of equipment and environmental incidents.
- Our customers may be unable or unwilling to indemnify us.
- Our operations outside of the U.S. subject us to additional risks.
- Our indebtedness and the terms of our indebtedness could impair our financial condition and our ability to fulfill our debt obligations or otherwise limit our business and financial activities.
- Because we have certain debt and other obligations, a prolonged period of low demand and rates for our services could lead to a material adverse effect on our liquidity.
- Lack of access to the financial markets could negatively impact our ability to operate our business.
- A further decline in the offshore energy services market could result in additional impairment charges.
- Government regulations may affect our business operations, including impeding our operations and making our operations more difficult and/or costly.
- Enhanced regulations for deepwater offshore drilling may reduce the need for our services.
- Failure to comply with anti-bribery laws could have a material adverse impact on our business.
- The loss of the services of one or more of our key employees, or our failure to attract and retain other highly qualified personnel in the future, could disrupt our operations and adversely affect our financial results.
- Cybersecurity breaches or business system disruptions may adversely affect our business.
- Certain provisions of our corporate documents, financial arrangements and Minnesota law may discourage a third party from making a takeover proposal.
Management Discussion
- A non-GAAP financial measure is generally defined by the SEC as a numerical measure of a company’s historical or future performance, financial position or cash flows that includes or excludes amounts from the most directly comparable measure under GAAP. Non-GAAP financial measures should be viewed in addition to, and not as an alternative to, our reported results prepared in accordance with GAAP. Users of this financial information should consider the types of events and transactions that are excluded from these measures.
- We measure our operating performance based on EBITDA, Adjusted EBITDA and Free Cash Flow. EBITDA, Adjusted EBITDA and Free Cash Flow are non-GAAP financial measures that are commonly used but are not recognized accounting terms under GAAP. We use EBITDA, Adjusted EBITDA and Free Cash Flow to monitor and facilitate internal evaluation of the performance of our business operations, to facilitate external comparison of our business results to those of others in our industry, to analyze and evaluate financial and strategic planning decisions regarding future investments and acquisitions, to plan and evaluate operating budgets, and in certain cases, to report our results to the holders of our debt as required by our debt covenants. We believe that our measures of EBITDA, Adjusted EBITDA and Free Cash Flow provide useful information to the public regarding our operating performance and ability to service debt and fund capital expenditures and may help our investors understand and compare our results to other companies that have different financing, capital and tax structures. Other companies may calculate their measures of EBITDA, Adjusted EBITDA and Free Cash Flow differently from the way we do, which may limit their usefulness as comparative measures. EBITDA, Adjusted EBITDA and Free Cash Flow should not be considered in isolation or as a substitute for, but instead are supplemental to, income from operations, net income, cash flows from operating activities, or other income or cash flow data prepared in accordance with GAAP.
- We define EBITDA as earnings before income taxes, net interest expense, gains or losses on extinguishment of long-term debt, gains and losses on equity investments, net other income or expense, and depreciation and amortization expense. Non-cash impairment losses on goodwill and other long-lived assets are also added back if applicable. To arrive at our measure of Adjusted EBITDA, we exclude the gain or loss on disposition of assets, acquisition and integration costs and the general provision (release) for current expected credit losses, if any. We define Free Cash Flow as cash flows from operating activities less capital expenditures, net of proceeds from sale of assets. In the following reconciliation, we provide amounts as reflected in the condensed consolidated financial statements unless otherwise noted.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. junior Avg
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New words:
agent, alliance, approval, assimilating, attention, boulder, cargo, cease, centered, certiorari, citizen, CME, coastwise, contingent, contractor, create, departure, deployed, director, divert, divestiture, document, engineered, expanding, failed, failing, federal, flag, forfeiture, growing, growth, half, heavy, Hub, implemented, incident, incomplete, inconsistent, iv, jet, July, leader, lift, LLC, lose, midstream, month, Naira, Nigerian, ordinary, ordnance, permit, permitted, petition, platform, preliminary, prohibited, push, reclamation, registered, removal, repeal, repealed, rolled, shallow, shelf, slightly, successful, Supreme, therewith, timeframe, unanticipated, unexploded, upstream, venture, vi, vii, writ
Removed:
applied, burial, cable, cover, focused, injury, letter, personal, realized, released, restriction, return, Traditionally
Financial reports
Current reports
8-K
Results of Operations and Financial Condition
25 Jul 22
8-K
Entry into a Material Definitive Agreement
1 Jul 22
8-K
Departure of Directors or Certain Officers
26 May 22
8-K
MAY 2022 Helix Energy Solutions Company Update
20 May 22
8-K
Submission of Matters to a Vote of Security Holders
20 May 22
8-K
Entry into a Material Definitive Agreement
17 May 22
8-K
Results of Operations and Financial Condition
25 Apr 22
8-K
Helix Energy Solutions Company Update March 2022
21 Mar 22
8-K
Results of Operations and Financial Condition
22 Feb 22
8-K
Departure of Directors or Certain Officers
9 Dec 21
Registration and prospectus
S-8
Registration of securities for employees
14 Jan 22
424B5
Prospectus supplement for primary offering
13 Aug 20
FWP
Free writing prospectus
12 Aug 20
424B5
Prospectus supplement for primary offering
11 Aug 20
8-A12B/A
Registration of securities on exchange (amended)
25 Oct 19
S-3ASR
Automatic shelf registration
25 Oct 19
SC TO-I/A
Issuer tender offer statement (amended)
15 Mar 18
424B5
Prospectus supplement for primary offering
14 Mar 18
FWP
Free writing prospectus
13 Mar 18
SC TO-I/A
Issuer tender offer statement (amended)
13 Mar 18
Proxies
DEFA14A
Additional proxy soliciting materials
6 Apr 22
DEFA14A
Additional proxy soliciting materials
6 Apr 21
DEFA14A
Additional proxy soliciting materials
4 May 20
DEFA14A
Additional proxy soliciting materials
7 Apr 20
DEFA14A
Additional proxy soliciting materials
2 Apr 19
DEF 14A
Definitive proxy
26 Mar 18
Other
EFFECT
Notice of effectiveness
17 Apr 16
UPLOAD
Letter from SEC
30 Oct 13
CORRESP
Correspondence with SEC
3 Oct 13
UPLOAD
Letter from SEC
24 Sep 13
UPLOAD
Letter from SEC
31 Jan 11
CORRESP
Correspondence with SEC
12 Dec 10
UPLOAD
Letter from SEC
29 Nov 10
UPLOAD
Letter from SEC
23 Dec 09
CORRESP
Correspondence with SEC
9 Dec 09
UPLOAD
Letter from SEC
1 Dec 09
Ownership
4
HELIX ENERGY SOLUTIONS / Thomas Mitchell Little ownership change
25 Jul 22
4
HELIX ENERGY SOLUTIONS / Thomas Mitchell Little ownership change
1 Jul 22
4
HELIX ENERGY SOLUTIONS / Amerino Gatti ownership change
1 Jul 22
4
HELIX ENERGY SOLUTIONS / Thomas Mitchell Little ownership change
1 Apr 22
4
HELIX ENERGY SOLUTIONS / JAN A RASK ownership change
1 Apr 22
4
HELIX ENERGY SOLUTIONS / Amerino Gatti ownership change
1 Apr 22
SC 13G/A
HELIX ENERGY SOLUTIONS / VANGUARD ownership change
9 Feb 22
SC 13G/A
HELIX ENERGY SOLUTIONS / DIMENSIONAL FUND ADVISORS ownership change
7 Feb 22
SC 13G/A
HELIX ENERGY SOLUTIONS / BlackRock ownership change
6 Feb 22
SC 13G/A
HELIX ENERGY SOLUTIONS / VICTORY CAPITAL MANAGEMENT ownership change
1 Feb 22
Patents
Utility
Lift frame system and method of use
27 Apr 20
A lift frame system and method of use including a lift frame capable of being moved from a stowed position to a drill center position and a skidding pallet with at least one personnel access and egress walkway platform.
Utility
Well Intervention Monohull Vessel
15 Apr 20
A well intervention monohull vessel and method of use including a tower type open derrick structure disposed on a deck of the vessel and a sole point land out having a sole point of riser tension contact with a top of the derrick structure.
Utility
Flow line connector assembly
30 Mar 20
A flow line connector assembly has first and second parts respectively comprising a plug, and a socket configured to receive the plug; a restraining device to resist disconnection of the first and second parts when the plug is received in the socket; and flow tubes, wherein each of the plug and the socket has a respective flow tube and the flow tubes are adapted to interconnect to form Ca conduit for fluid to flow between the first and second parts when the plug is received in the socket.
Transcripts
2022 Q2
Earnings call transcript
26 Jul 22
2022 Q1
Earnings call transcript
26 Apr 22
2021 Q4
Earnings call transcript
22 Feb 22
2021 Q3
Earnings call transcript
21 Oct 21
2021 Q2
Earnings call transcript
27 Jul 21
2021 Q1
Earnings call transcript
28 Apr 21
2020 Q4
Earnings call transcript
23 Feb 21
2020 Q3
Earnings call transcript
22 Oct 20
2020 Q2
Earnings call transcript
23 Jul 20
2020 Q1
Earnings call transcript
23 Apr 20
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