Helix Energy Posts Lower Q4 Profit But Strong Cash
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Helix Energy ( (HLX) ) has provided an announcement.
On February 23, 2026, Helix reported fourth-quarter 2025 net income of $8.3 million, or $0.06 per diluted share, down from both the prior quarter and year-ago period, reflecting an $18.1 million non-cash impairment on certain oil and gas properties and softer revenues. Adjusted EBITDA for the quarter was $73.9 million, its highest fourth-quarter level since 2013, while full-year 2025 net income fell to $30.8 million and Adjusted EBITDA to $272.0 million, both below 2024.
The company generated $107.5 million of free cash flow in the fourth quarter and $120.4 million for 2025, boosting cash and cash equivalents to $445.2 million and leaving Helix in a net cash position of $137.2 million at year-end. Management highlighted market volatility and a roughly 20% year-on-year drop in oil prices that weighed on offshore activity, but pointed to resilience in pockets such as a newly secured multi-year U.K. North Sea plug and abandonment program covering up to 34 subsea wells and building momentum for offshore market improvement into late 2026 and 2027.
The most recent analyst rating on (HLX) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on Helix Energy stock, see the HLX Stock Forecast page.
Spark’s Take on HLX Stock
According to Spark, TipRanks’ AI Analyst, HLX is a Outperform.
Helix Energy’s strong earnings call and positive technical indicators are offset by valuation concerns and financial performance risks. The company’s resilience is evident in its record-high quarterly results, but challenges in profitability and liquidity remain.
To see Spark’s full report on HLX stock, click here.
More about Helix Energy
Helix Energy Solutions Group, Inc. is a Houston-based offshore energy services company listed on the NYSE under the ticker HLX. It operates across well intervention, robotics, shallow water abandonment and production facilities, with a focus on offshore oil and gas markets including the U.K. North Sea, providing decommissioning and related subsea services to energy producers.
Average Trading Volume: 1,787,894
Technical Sentiment Signal: Buy
Current Market Cap: $1.26B
For an in-depth examination of HLX stock, go to TipRanks’ Overview page.
