Helix Energy Solutions Group Inc. (HLX) Financial Statements (2025 and earlier)

Company Profile

Business Address 3505 W SAM HOUSTON NORTH
HOUSTON, TX 77043
State of Incorp. MN
Fiscal Year End December 31
Industry (SIC) 1389 - Oil and Gas Field Services, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2025
Q1
12/31/2024
Q4
9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments368,030324,120275,066323,849332,191168,370
Cash and cash equivalent368,030324,120275,066323,849332,191168,370
Receivables258,630270,883283,636219,844280,427308,023
Prepaid expense  33,51121,963   
Contract with customer, asset, after allowance for credit loss  12,88810,031   
Capitalized contract cost  42,04822,546   
Other current assets83,02298,93465,21362,06485,22378,584
Other undisclosed current assets  (88,447)(54,540)   
Total current assets:709,682693,937623,915605,757697,841554,977
Noncurrent Assets
Operating lease, right-of-use asset329,649338,245347,608358,285169,233181,610
Nontrade receivables  24,24726,864   
Property, plant and equipment1,437,8531,511,3251,500,8121,529,6351,572,8491,574,910
Intangible assets, net (including goodwill)  3,8403,878   
Intangible assets, net (excluding goodwill)  3,8403,878   
Prepaid expense  12,54412,544   
Capitalized contract cost, net  7091,584   
Other noncurrent assets48,17843,31846,55847,04644,82347,477
Other undisclosed noncurrent assets71,71832,98433,17473,09171,29075,778
Total noncurrent assets:1,887,3981,967,2121,973,0222,008,0571,858,1951,879,775
TOTAL ASSETS:2,597,0802,661,1492,596,9372,613,8142,556,0362,434,752
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities235,248234,167233,492284,172337,664320,335
Accounts payable144,793142,400144,830120,375134,552142,217
Accrued liabilities90,45591,76788,662163,797203,112178,118
Deferred revenue  25,58117,087   
Debt9,1869,1868,9658,96548,2928,749
Other undisclosed current liabilities59,98234,28540,63054,89262,66261,191
Total current liabilities:304,416303,219300,174348,029448,618390,275
Noncurrent Liabilities
Long-term debt and lease obligation305,971305,487309,664309,199313,430218,508
Long-term debt, excluding current maturities305,971305,487309,664309,199313,430218,508
Liabilities, other than long-term debt466,928546,631557,512489,764292,988295,451
Accounts payable and accrued liabilities  3,1883,051   
Asset retirement obligations  61,57064,150   
Deferred income tax liabilities113,973123,722120,169109,981110,555105,823
Other liabilities66,97164,75867,20165,43266,24860,173
Operating lease, liability285,984293,393302,941314,351116,185129,455
Other undisclosed noncurrent liabilities  (64,758)(67,201)   
Total noncurrent liabilities:772,899787,360799,975798,963606,418513,959
Total liabilities:1,077,3151,090,5791,100,1491,146,9921,055,036904,234
Equity
Equity, attributable to parent1,519,7651,570,5701,496,7881,466,8221,501,0001,530,518
Common stock1,252,2531,270,3471,267,7681,270,3571,271,5651,290,940
Accumulated other comprehensive loss(100,575)(47,743)(89,432)(89,698)(83,015)(101,205)
Retained earnings368,087347,966318,452286,163312,450340,783
Total equity:1,519,7651,570,5701,496,7881,466,8221,501,0001,530,518
TOTAL LIABILITIES AND EQUITY:2,597,0802,661,1492,596,9372,613,8142,556,0362,434,752

Income Statement (P&L) ($ in thousands)

3/31/2025
Q1
12/31/2024
Q4
9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
Revenues355,133342,419364,797296,211335,157395,670
Cost of revenue(296,274)(276,754)(289,311)(276,657)(285,879)(315,125)
Gross profit:58,85965,66575,48619,55449,27880,545
Operating expenses(23,282)(21,025)(22,293)(20,830)(22,971)(27,818)
Other undisclosed operating loss (4,699)   (10,927)(16,499)
Operating income (loss):30,87844,64053,193(1,276)15,38036,228
Nonoperating income (expense)(2,488)(49)(382)(2,216)6,963(8,257)
Loss, foreign currency transaction, before tax (1,213)     
Other nonoperating income (expense)(1,275)(49)(382)(2,216)6,963(8,257)
Interest and debt expense(8,307)(8,414)(8,402)(8,778)(44,080)(4,830)
Income (loss) from continuing operations before equity method investments, income taxes:20,08336,17744,409(12,270)(21,737)23,141
Other undisclosed income (loss) from continuing operations before income taxes3,9182,8572,605(15,715)2,125756
Income (loss) from continuing operations before income taxes:24,00139,03447,014(27,985)(19,612)23,897
Income tax expense (benefit)(3,880)(9,520)(14,725)1,698(8,721)(8,337)
Net income (loss) attributable to parent:20,12129,51432,289(26,287)(28,333)15,560
Undistributed earnings (loss) allocated to participating securities, basic(17)(29)(33)  (27)
Other undisclosed net income available to common stockholders, basic     30 
Net income (loss) available to common stockholders, basic:20,10429,48532,256(26,287)(28,303)15,533
Other undisclosed net income (loss) available to common stockholders, diluted  11 (1)1
Net income (loss) available to common stockholders, diluted:20,10429,48632,257(26,287)(28,304)15,534

Comprehensive Income ($ in thousands)

3/31/2025
Q1
12/31/2024
Q4
9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
Net income (loss):20,12129,51432,289(26,287)(28,333)15,560
Other comprehensive income (loss)  41,689266(6,683)18,190(16,603)
Other undisclosed comprehensive income (loss)(52,832)     
Comprehensive income (loss), net of tax, attributable to parent:(32,711)71,20332,555(32,970)(10,143)(1,043)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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