Helix Q2 2026: revenue +21% to $304.0M, net income $22.7M ($22.7M/share)

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 24, 2025 · ~2 min read

Key Changes

• high

  Entered definitive merger agreement with Hornbeck Offshore on April 22, 2026; upon closing (expected Sept 1, 2026), Helix and Hornbeck shareholders will own ~45% and 55% of combined entity, respectively. Share repurchases suspended; $8.3M transaction costs incurred in Q2.

  Notes: Hornbeck merger agreement view on EDGAR →
• high

  Well Intervention revenue +33% to $208.1M in Q2 2026 vs Q2 2025, driven by higher utilization on Q5000 (post-docking) and Seawell (returned to service). Segment gross profit swung from $12.3M loss in Q2 2025 to $23.6M profit in Q2 2026.

  MD&A: Well Intervention performance verify on EDGAR →
• high

  Cash and cash equivalents increased from $319.7M at June 30, 2025 to $652.2M at June 30, 2026 (+$332.5M), driven by $104.2M Alliance sale proceeds and $115.7M operating cash flow in H1 2026 (vs $0.7M outflow in H1 2025).

  MD&A: Cash and liquidity verify on EDGAR →