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Helix Energy Solutions Group Down 9.90% To $9.24 After Earnings Miss

Tuesday, February 27, 2024 09:55 AM | InvestorsObserver Analysts

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Helix Energy Solutions Group Down 9.90% To $9.24 After Earnings Miss

Helix Energy Solutions Group (HLX) said after close Monday that it earned $0.06 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $335.2 million, beating estimates by $19.6 million.

In the same quarter a year ago, the company earned $0.02 per share on revenue of $287.8 million.

The stock is down 9.90% to $9.24 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Helix Energy Solutions Group a Bullish Sentiment Rank from InvestorsObserver.

Helix Energy Solutions Group has performed a little below average during the past few months. Before the report, Helix Energy Solutions Group received a Long-Term Technical Rank by InvestorsObserver of 30, putting it in the bottom half of stocks. The firm set a 52-week high on September 27, 2023 at $11.88 and set a 52-week low on May 31, 2023 at $6.19.

Helix Energy Solutions Group Inc is an offshore energy services company. It provides specialty services to the offshore energy industry, with emphasis on well intervention and robotics operations. Helix provides services primarily in deepwater in the Gulf of Mexico, Brazil, North Sea, Asia Pacific and West Africa regions. It has three reportable business segments: Well Intervention, Robotics and Production Facilities. Well Intervention segment includes vessels and equipment used to perform well intervention services primarily in the Gulf of Mexico, North Sea and Brazil; Robotics segment includes remotely operated vehicles, trenchers, and ROVDrills; Production Facilities segment includes the HP I, the Helix Fast Response System.

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