Helix Energy Solutions Group, Inc. (NYSE:HLX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Helix Energy Solutions Group, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 49.02% to $0.26 in the quarter versus EPS of $0.51 in the year-earlier quarter.
Revenue: Decreased 33.16% to $232.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Helix Energy Solutions Group, Inc. reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.2. It beat the average revenue estimate of $226.12 million.
Quoting Management: Owen Kratz, President and Chief Executive Officer of Helix, stated, “With the sale of the Caesar and Express now behind us along with the pending sale of the Ingleside Spoolbase, we have completed our transition to a company focused on well intervention and robotics, two businesses with exciting growth prospects. Financially, we are pleased to have closed the chapter on the high yield notes with its payoff yesterday and our new credit facility provides us with a lower cost of capital.”
Key Stats (on next page)…
Revenue increased 17.61% from $197.43 million in the previous quarter. EPS increased 160% from $0.10 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.32 to a profit $0.29. For the current year, the average estimate has moved down from a profit of $1.06 to a profit of $0.99 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)