Helix Energy Q3 2024 10-Q Filed
Ticker: HLX · Form: 10-Q · Filed: Oct 24, 2024 · CIK: 866829
Sentiment: neutral
Topics: 10-Q, financials, oil-gas
TL;DR
Helix Energy's Q3 2024 10-Q is in. Check financials for latest performance.
AI Summary
Helix Energy Solutions Group Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Specific financial figures and operational highlights are presented within the report.
Why It Matters
This filing provides investors with the latest financial and operational performance of Helix Energy Solutions Group, crucial for understanding the company's current health and future prospects in the oil and gas services sector.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the oil and gas sector can be volatile, introducing inherent risks.
Key Numbers
- N/A — Revenue (Specific revenue figures for the quarter are not directly extractable from the provided text snippet.)
- N/A — Net Income (Specific net income figures for the quarter are not directly extractable from the provided text snippet.)
- N/A — Total Assets (Specific total asset figures for the quarter are not directly extractable from the provided text snippet.)
Key Players & Entities
- HELIX ENERGY SOLUTIONS GROUP INC (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-10-24 (date) — Filing date
- CAL DIVE INTERNATIONAL INC (company) — Former company name
FAQ
What was Helix Energy Solutions Group's retained earnings as of September 30, 2024?
As of September 30, 2024, Helix Energy Solutions Group's retained earnings were not explicitly stated in the provided text snippet, but the filing includes data points for this metric.
What is the filing date of this 10-Q report?
This 10-Q report was filed on October 24, 2024.
What is the fiscal year end for Helix Energy Solutions Group?
The fiscal year end for Helix Energy Solutions Group is December 31.
What was the company's name prior to August 21, 1996?
Prior to August 21, 1996, the company's former name was CAL DIVE INTERNATIONAL INC.
What is the SIC code for Helix Energy Solutions Group?
The Standard Industrial Classification (SIC) code for Helix Energy Solutions Group is 1389, categorized under OIL, GAS FIELD SERVICES, NBC.
Filing Stats: 4,468 words · 18 min read · ~15 pages · Grade level 18.2 · Accepted 2024-10-24 16:19:40
Filing Documents
- hlx-20240930x10q.htm (10-Q) — 2514KB
- hlx-20240930xex31d1.htm (EX-31.1) — 12KB
- hlx-20240930xex31d2.htm (EX-31.2) — 12KB
- hlx-20240930xex32d1.htm (EX-32.1) — 9KB
- hlx-20240930x10q001.jpg (GRAPHIC) — 6KB
- 0000866829-24-000039.txt ( ) — 10764KB
- hlx-20240930.xsd (EX-101.SCH) — 55KB
- hlx-20240930_cal.xml (EX-101.CAL) — 76KB
- hlx-20240930_def.xml (EX-101.DEF) — 227KB
- hlx-20240930_lab.xml (EX-101.LAB) — 476KB
- hlx-20240930_pre.xml (EX-101.PRE) — 392KB
- hlx-20240930x10q_htm.xml (XML) — 2429KB
Financial Statements
Financial Statements: 3 Condensed Consolidated Balance Sheets – September 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations (Unaudited) – Three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) – Three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Shareholders' Equity (Unaudited) – Three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) – Nine months ended September 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) September 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 324,120 $ 332,191 Accounts receivable, net of allowance for credit losses of $ 3,882 and $ 3,407 , respectively 270,883 280,427 Other current assets 98,934 85,223 Total current assets 693,937 697,841 Property and equipment 3,137,207 3,078,571 Less accumulated depreciation ( 1,625,882 ) ( 1,505,722 ) Property and equipment, net 1,511,325 1,572,849 Operating lease right-of-use assets 338,245 169,233 Deferred recertification and dry dock costs, net 74,324 71,290 Other assets, net 43,318 44,823 Total assets $ 2,661,149 $ 2,556,036 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 142,400 $ 134,552 Accrued liabilities 91,767 203,112 Current maturities of long-term debt 9,186 48,292 Current operating lease liabilities 59,866 62,662 Total current liabilities 303,219 448,618 Long-term debt 305,487 313,430 Operating lease liabilities 293,393 116,185 Deferred tax liabilities 123,722 110,555 Other non-current liabilities 64,758 66,248 Total liabilities 1,090,579 1,055,036 Commitments and contingencies Shareholders' equity: Common stock, no par, 240,000 shares authorized, 152,101 and 152,291 shares issued, respectively 1,270,347 1,271,565 Retained earnings 347,966 312,450 Accumulated other comprehensive loss ( 47,743 ) ( 83,015 ) Total shareholders' equity 1,570,570 1,501,000 Total liabilities and shareholders' equity $ 2,661,149 $ 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 (UNAU