Helix swings to $13.4 million Q1 net loss as revenue rises to $287.9 million
Helix Energy Solutions reported a first quarter 2026 net loss of $13.4 million, or $(0.09) per diluted share, compared with net income of $3.1 million, or $0.02 per share, a year earlier, while revenue rose to $287.9 million from $278.1 million. Adjusted EBITDA fell to $32.3 million from $52.0 million, though free cash flow was $59.0 million versus $12.0 million and cash reached $501.3 million, which the company said gives it room for opportunities.
Key points
- Net loss of $13.4 million, or $(0.09) per diluted share, versus net income of $3.1 million, or $0.02, in Q1 2025
- Revenue of $287.9 million, up from $278.1 million in Q1 2025 but down from $334.2 million in Q4 2025
- Adjusted EBITDA of $32.3 million versus $52.0 million in Q1 2025; free cash flow of $59.0 million versus $12.0 million
- Cash and cash equivalents of $501.3 million at March 31, 2026; the company said it expects momentum to build in the second half of 2026
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 April 22, 2026.
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.