MergerAug 6, 2026, 08:13 AM
Helix Energy Reports Q2 Results; Hornbeck Merger Expected Sept 1
AI Summary
Helix Energy Solutions Group, Inc. reported strong second quarter 2026 financial results, with net income of $22.7 million and Adjusted EBITDA of $69.9 million. The company also announced significant progress on its merger with Hornbeck Offshore Services, Inc., which is expected to close on September 1, 2026, following shareholder approval. Helix also completed the sale of Helix Alliance for $107.5 million, contributing to a robust cash position of $652.2 million. Due to the pending merger, the company has withdrawn its annual guidance and will not host a conference call.
Key Highlights
- Merger with Hornbeck Offshore Services, Inc. expected to close September 1, 2026.
- Helix shareholders to own approximately 45% of the combined company, Hornbeck 55%.
- Combined company to be named "Hornbeck Offshore Services, Inc." and trade as "HOS".
- Net income for Q2 2026 was $22.7 million, or $0.15 per diluted share.
- Adjusted EBITDA for Q2 2026 was $69.9 million, up from $32.3 million in Q1 2026.
- Sale of Helix Alliance completed May 1, 2026, for $107.5 million cash, generating a $12.7 million gain.
- Cash and cash equivalents stood at $652.2 million, with total liquidity of $716.5 million.
- Annual guidance withdrawn due to the pending merger.
Price Impact
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