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Helix Energy reports 4Q loss

February 21, 2017

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.

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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

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Keywords: Helix Energy, Earnings Report

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