Helix posts $2.6 million Q2 net loss, down from $32.3 million profit a year earlier
Helix Energy Solutions reported a second quarter 2025 net loss of $2.6 million, or $(0.02) per diluted share, compared with net income of $32.3 million a year earlier, as revenue fell to $302.3 million from $364.8 million. CEO Owen Kratz said customers are scaling back spending and pushing work into 2026, and that the company has risk-assessed its 2025 outlook accordingly, which weighs on shareholders' expectations for earnings.
Key points
- Q2 2025 net loss of $2.6 million, or $(0.02) per diluted share, versus net income of $32.3 million, or $0.21 per diluted share, in Q2 2024
- Q2 2025 revenue of $302.3 million versus $364.8 million in Q2 2024; Adjusted EBITDA of $42.4 million versus $96.9 million
- About 4.6 million shares repurchased for about $30.0 million in Q2 2025; cash and cash equivalents were $319.7 million at June 30, 2025
- Management said it has risk-assessed its 2025 outlook given customer spending cuts; the filing gives no numeric guidance
The filing
Written by AI on Nov 8, 2026, 2:07 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 23, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.