Group 1 - The focus has shifted towards offshore drilling, supply industry, and shipping, including tankers, containers, and dry bulk [1] - The fuel cell industry is being monitored as it is still in its early stages of development [1] Group 2 - The individual has extensive experience in auditing and trading, having navigated significant market events such as the dotcom bubble and the subprime crisis [2] - The research provided aims to maintain high quality despite language barriers [2]

Helix Energy Solutions Group (HLX -13.94%), a diversified offshore energy services provider, reported weaker-than-expected Q2 2025 results, released on July 23, 2025. The headline was a disappointing performance in both revenue and profit, driven largely by operational setbacks in its core Well Intervention business. GAAP revenue reached $302.3 million versus the $318.6 million GAAP analyst estimate, while GAAP earnings per share (EPS) stood at $(0.02), missing the GAAP consensus by $0.05 per share. These r ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 3505 West Sam Houston Parkway North Suite 400 Houston Texas 77043 (Address of princ ...

Group 1 - Helix Energy Solutions Group, Inc. held its Q2 2025 earnings conference call on July 24, 2025, with key participants including the CEO, CFO, and other executives [1][2][3] - The conference call was initiated by Brent Arriaga, the Vice President of Finance and Accounting, who welcomed participants and introduced the executive team [3][4] Group 2 - The company provided access to its press release and related slide presentation through its Investor Relations page, indicating a focus on transparency and communication with investors [4]

Financial Data and Key Metrics Changes - Revenues for Q2 2025 were $302 million, down from $278 million in Q1 2025, with a gross profit of $15 million compared to $28 million in Q1 [7][6] - The company reported a net loss of $3 million in Q2, contrasting with a net income of $3 million in Q1 [7] - Adjusted EBITDA for Q2 was $42 million, with a negative operating cash flow of $17 million, leading to negative free cash flow of $22 million [7][6] - Year-to-date revenues reached $518 million, with gross profits of $42 million and breakeven net income [7] Business Line Data and Key Metrics Changes - The Well Intervention segment faced challenges due to the regulatory docking of the Q5000 and the demobilization of the Q4000, impacting overall performance [6][9] - Robotics had a strong quarter, operating seven vessels and achieving high utilization, particularly in trenching and ROV support [12][14] - Shallow water abandonment activity increased, but the segment still faced pressure due to market conditions and competition [16][61] Market Data and Key Metrics Changes - The UK North Sea market has experienced a temporary standstill, affecting expected results, with several major producers announcing intentions to exit the market [32][33] - The Gulf of America intervention market is also softening, with customers deferring work due to lower oil prices and regulatory uncertainties [19][71] - Brazil's market remains strong, with three vessels operating on long-term contracts [7][39] Company Strategy and Development Direction - The company is focusing on mitigating impacts from slower markets by adjusting maintenance schedules and pursuing international opportunities [20][35] - A multi-year trenching contract in the North Sea has been secured, indicating a strategic move towards long-term contracts [14][25] - The company anticipates a gradual recovery in 2026 and a return to full strength by 2027, despite current market challenges [39][38] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns over geopolitical uncertainties and lower oil prices affecting customer spending [19][71] - The outlook for the second half of 2025 has been adjusted, with expected revenues between $1.2 billion and $1.3 billion, and EBITDA between $225 million and $265 million [21][22] - Management remains optimistic about the long-term fundamentals and cash flow outlook, despite the current market softness [31][39] Other Important Information - The company has a strong balance sheet with $320 million in cash and liquidity of $375 million at quarter-end [18] - A three-year framework agreement for decommissioning services with Exxon has been secured, enhancing future revenue potential [16][97] - The company repurchased $30 million worth of shares during the second quarter, indicating confidence in its financial position [30] Q&A Session Summary Question: What should be focused on regarding shallow water abandonment? - Management believes the market is at a bottom, with significant bidding activity expected leading up to 2027 [42][44] Question: How does competition affect well intervention in the Gulf of America? - Management indicated that competition is not the main hurdle; rather, it is the overall market demand and customer spending that are impacting results [46][48] Question: What are the drivers behind the decline in robotics EBIT? - The decline is attributed to a shift from providing full trenching spreads to only the trencher, resulting in lower revenue [57][58] Question: Why not remediate the Thunder Hawk well this year? - The decision is based on the need for long lead items and partner preferences for timing, with interventions planned for early 2026 [65][66] Question: What are the main challenges driving customer work pushes? - Factors include lower oil prices, regulatory uncertainties, and overall market indecision, leading to deferred spending [71][72]

Financial Performance - Second quarter revenue was $302 million, a decrease compared to $365 million in the same period of 2024[12] - Net loss for the second quarter was $3 million, or $(002) per diluted share[12, 13] - Adjusted EBITDA for the second quarter was $42 million, down from $97 million in the second quarter of 2024[12, 13] - Free Cash Flow for the second quarter was $(22) million, compared to $(16) million in the second quarter of 2024[12, 13] Financial Condition - Cash and cash equivalents totaled $320 million as of June 30, 2025[12, 13] - The company had a negative Net Debt of $8 million as of June 30, 2025[12, 13] - Total funded debt was $319 million as of June 30, 2025[43] Operational Highlights - Decommissioning accounted for 59% of revenue, Production Maximization 24%, Renewables 14%, and Other 3% for the quarter ended June 30, 2025[16] - Well Intervention vessel utilization was 72% during the second quarter[22] - Robotics vessel utilization was 95% during the second quarter[22] - Shallow Water Abandonment vessel utilization was 60% during the second quarter[22] 2025 Outlook - The company anticipates revenues between $12 billion and $13 billion for 2025[51] - Adjusted EBITDA is projected to be between $225 million and $265 million[51] - Free Cash Flow is expected to be between $90 million and $140 million[51] - Capital additions are forecasted at approximately $70 – $80 million[66]

Company Performance - Helix Energy reported a quarterly loss of $0.02 per share, missing the Zacks Consensus Estimate of $0.01, compared to earnings of $0.21 per share a year ago, representing an earnings surprise of -300.00% [1] - The company posted revenues of $302.29 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 7.35%, and down from $364.8 million year-over-year [2] - Over the last four quarters, Helix Energy has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Stock Performance - Helix Energy shares have lost about 29.9% since the beginning of the year, while the S&P 500 has gained 7.3% [3] - The current Zacks Rank for Helix Energy is 4 (Sell), indicating expected underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $0.32 on revenues of $402.95 million, and $0.36 on revenues of $1.33 billion for the current fiscal year [7] - The estimate revisions trend for Helix Energy was unfavorable ahead of the earnings release, which may impact future stock movements [5][6] Industry Context - The Oil and Gas - Field Services industry, to which Helix Energy belongs, is currently in the bottom 5% of the Zacks Industry Rank, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could affect Helix Energy's performance [5]

EXHIBIT 99.1 E Helix Reports Second Quarter 2025 Results HOUSTON, TX – Helix Energy Solutions Group, Inc. ("Helix") (NYSE: HLX) reported a net loss of $2.6 million, or $(0.02) per diluted share, for the second quarter 2025 compared to net income of $3.1 million, or $0.02 per diluted share, for the first quarter 2025 and net income of $32.3 million, or $0.21 per diluted share, for the second quarter 2024. Helix reported Adjusted EBITDA1 of $42.4 million for the second quarter 2025 compared to $52.0 million f ...

Core Viewpoint - Helix Energy (HLX) is anticipated to report a significant year-over-year decline in earnings due to lower revenues, with the upcoming earnings report expected to be released on July 23, 2025 [1][2]. Financial Performance Expectations - The consensus estimate for Helix Energy's quarterly earnings is $0.01 per share, reflecting a year-over-year decrease of 95.2% [3]. - Expected revenues for the quarter are $326.27 million, which is a decline of 10.6% compared to the same quarter last year [3]. Estimate Revisions and Predictions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst expectations [4]. - Helix Energy has an Earnings ESP of 0%, as the Most Accurate Estimate aligns with the Zacks Consensus Estimate, suggesting no recent differing analyst views [12]. Historical Performance - In the last reported quarter, Helix Energy was expected to incur a loss of $0.05 per share but instead reported earnings of $0.02, resulting in a positive surprise of 140% [13]. - Over the past four quarters, Helix Energy has exceeded consensus EPS estimates three times [14]. Industry Context - In comparison, Baker Hughes (BKR), another player in the oil and gas field services industry, is expected to report earnings of $0.55 per share, indicating a year-over-year decline of 3.5% [18]. - Baker Hughes' revenues are projected to be $6.63 billion, down 7.1% from the previous year, with a slight revision of the consensus EPS estimate down by 0.4% over the last 30 days [19].

Core Insights - Exxon Mobil Corporation (XOM) has signed a multi-year agreement with Helix Energy Solutions Group, Inc. (HLX) for plug and abandonment operations in the U.S. Gulf of Mexico, addressing aging infrastructure and decommissioning needs [1][10] - The partnership enhances Helix's capabilities in decommissioning and underscores ExxonMobil's commitment to managing its offshore legacy assets responsibly [2][6] Industry Context - Over 2,000 wells in the Gulf of Mexico are abandoned, with operators facing stricter regulations for well plugging and platform removal, indicating a growing focus on environmental compliance [3][7] - Helix Energy Solutions is expanding its technical capabilities in both decommissioning and subsea services, positioning itself as a full-cycle offshore service provider [4][5] Strategic Alignment - ExxonMobil's agreement with Helix aligns with its broader strategy to reduce Scope 1 and 2 emissions intensity by 40-50% by 2030 compared to 2016 levels, with proper management of offshore well closures being a key component [6][10] - The deal reflects the evolving priorities of the energy sector, particularly in response to aging infrastructure and increasing environmental standards [7]