Helix Energy Solutions Q4 Results Top Estimates; To Repurchase Up To $200 Mln Of Shares

Helix Energy Solutions Group Inc. (HLX) reported net income of $2.71 million or $0.02 per share, for the fourth quarter 2022 compared to net loss of $25.91 million or $0.17 per share in the fourth quarter 2021. Analysts polled by Thomson Reuters expected the company to report break even per share for the fourth quarter. Analysts' estimates typically exclude special items.

The company said its fourth quarter results were aided by a healthy oil and gas market, seasonally adjusted but strong Robotics operations, and ongoing contribution from its Alliance acquisition.

Net revenues for the quarter grew to $287.82 million from $168.66 million in the prior year. Analysts expected revenue of $253.54 million for the quarter.

Helix Energy Solutions announced that its board has authorized a repurchase program for up to $200 million of Helix's issued and outstanding shares.

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