Helix Energy Solutions Posts Q4 Profit On Tax Benefit From U.S. Tax Reform

(RTTNews) - Helix Energy Solutions Group Inc. (HLX) reported net income of $50.6 million or $0.34 per share, for the fourth quarter of 2017 compared to a net loss of $54.4 million or $0.46 per share, for the same period in 2016. Net income in the fourth quarter of 2017 included a non-cash benefit of approximately $51.6 million, or $0.35 per share, related to the U.S. tax law changes enacted in December 2017.

Net revenues for the quarter rose to $163.27 million from $128.03 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.01 per share and revenues of $159 million for the quarter. Analysts' estimates typically exclude special items.