Helix Energy reported Q1 revenue of $287.95 million, beating estimates, and generated $59 million in free cash flow.
Helix Energy Solutions Group (HLX) posted first-quarter revenue of $287.95 million, surpassing the $263.91 million consensus estimate. The company also reported $59 million in free cash flow and maintained over $500 million in cash reserves, signaling strong liquidity.
TD Cowen raised its price target on HLX to $14 from $13, maintaining a Buy rating. The firm cited in-line Q1 results and the strategic rationale behind Helix’s reverse merger with Hornbeck, though it noted the deal’s economics were less compelling. Management expects improving demand driven by higher commodity prices and regulatory support through 2027.
Helix operates in offshore energy services, providing intervention and production solutions for oil, gas, and renewable sectors. The company’s financial position and revenue growth underscore its role as a key infrastructure player in the energy market.