Helix Energy Solutions Q2 2024 10-Q Filed
Ticker: HLX · Form: 10-Q · Filed: Jul 25, 2024 · CIK: 866829
Sentiment: neutral
Topics: 10-Q, oil-gas, financials
TL;DR
Helix Energy Solutions Q2 10-Q is in. Financials and operations updated.
AI Summary
Helix Energy Solutions Group Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial figures and balance sheet items are presented, reflecting the company's ongoing activities in the oil and gas field services sector.
Why It Matters
This filing provides investors with the latest financial health and operational performance of Helix Energy Solutions, crucial for understanding its current market position and future prospects.
Risk Assessment
Risk Level: medium — The oil and gas sector is inherently volatile, subject to commodity price fluctuations and regulatory changes, which can impact Helix Energy Solutions' performance.
Key Numbers
- N/A — Revenue (Specific revenue figures for the quarter are not detailed in the provided header information.)
- N/A — Net Income (Specific net income figures for the quarter are not detailed in the provided header information.)
- N/A — Earnings Per Share (Specific EPS figures for the quarter are not detailed in the provided header information.)
Key Players & Entities
- HELIX ENERGY SOLUTIONS GROUP INC (company) — Filer
- CAL DIVE INTERNATIONAL INC (company) — Former Company Name
- 20240630 (date) — Period of Report
- 20240725 (date) — Filing Date
FAQ
What was Helix Energy Solutions' retained earnings as of June 30, 2024?
Retained earnings as of June 30, 2024, were not explicitly stated in the provided header, but balance sheet details are available in the full filing.
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
What was the previous name of Helix Energy Solutions Group Inc.?
The former company name was CAL DIVE INTERNATIONAL INC.
When was the company's name changed from CAL DIVE INTERNATIONAL INC?
The date of the name change was August 21, 1996.
What is the filing date of this 10-Q report?
This 10-Q report was filed on July 25, 2024.
Filing Stats: 4,506 words · 18 min read · ~15 pages · Grade level 17.8 · Accepted 2024-07-25 16:49:27
Filing Documents
- hlx-20240630x10q.htm (10-Q) — 2490KB
- hlx-20240630xex31d1.htm (EX-31.1) — 12KB
- hlx-20240630xex31d2.htm (EX-31.2) — 12KB
- hlx-20240630xex32d1.htm (EX-32.1) — 9KB
- hlx-20240630x10q001.jpg (GRAPHIC) — 6KB
- 0000866829-24-000028.txt ( ) — 10661KB
- hlx-20240630.xsd (EX-101.SCH) — 54KB
- hlx-20240630_cal.xml (EX-101.CAL) — 76KB
- hlx-20240630_def.xml (EX-101.DEF) — 223KB
- hlx-20240630_lab.xml (EX-101.LAB) — 471KB
- hlx-20240630_pre.xml (EX-101.PRE) — 388KB
- hlx-20240630x10q_htm.xml (XML) — 2405KB
Financial Statements
Financial Statements: 3 Condensed Consolidated Balance Sheets – June 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations (Unaudited) – Three and six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) – Three and six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Shareholders' Equity (Unaudited) – Three and six months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) – Six months ended June 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.
Controls and Procedures
Controls and Procedures 39 PART II. OTHER INFORMATION 39 Item 1.
Legal Proceedings
Legal Proceedings 39 Item 1A.
Risk Factors
Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults Upon Senior Securities 39 Item 4. Mine Safety Disclosures 40 Item 5. Other Information 40 Item 6. Exhibits 40
Signatures
Signatures 41 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements HELIX ENERGY SOLUTIONS GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) June 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 275,066 $ 332,191 Accounts receivable, net of allowance for credit losses of $ 3,836 and $ 3,407 , respectively 283,636 280,427 Other current assets 65,213 85,223 Total current assets 623,915 697,841 Property and equipment 3,073,582 3,078,571 Less accumulated depreciation ( 1,572,770 ) ( 1,505,722 ) Property and equipment, net 1,500,812 1,572,849 Operating lease right-of-use assets 347,608 169,233 Deferred recertification and dry dock costs, net 78,044 71,290 Other assets, net 46,558 44,823 Total assets $ 2,596,937 $ 2,556,036 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 144,830 $ 134,552 Accrued liabilities 88,662 203,112 Current maturities of long-term debt 8,965 48,292 Current operating lease liabilities 57,717 62,662 Total current liabilities 300,174 448,618 Long-term debt 309,664 313,430 Operating lease liabilities 302,941 116,185 Deferred tax liabilities 120,169 110,555 Other non-current liabilities 67,201 66,248 Total liabilities 1,100,149 1,055,036 Commitments and contingencies Shareholders' equity: Common stock, no par, 240,000 shares authorized, 152,051 and 152,291 shares issued, respectively 1,267,768 1,271,565 Retained earnings 318,452 312,450 Accumulated other comprehensive loss ( 89,432 ) ( 83,015 ) Total shareholders' equity 1,496,788 1,501,000 Total liabilities and shareholders' equity $ 2,596,937 $ 2,556,036 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents HELIX ENERGY SOLUTIONS GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED