Helix Energy reports 4Q loss
HOUSTON (AP) — Helix Energy Solutions Group Inc. on Monday reported a loss of $54.4 million in its fourth quarter.
On a per-share basis, the Houston-based company said it had a loss of 46 cents. Losses, adjusted for asset impairment costs, were 5 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The offshore oil and gas services contractor posted revenue of $128 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $138.3 million.
For the year, the company reported that its loss narrowed to $81.4 million, or 73 cents per share. Revenue was reported as $487.6 million.
Helix Energy shares have declined 16 percent since the beginning of the year. The stock has more than doubled in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HLX at https://www.zacks.com/ap/HLX
Keywords: Helix Energy, Earnings Report