Helix Energy Solutions Turns To Profit In Q4

(RTTNews) - Helix Energy Solutions Group Inc. (HLX) reported that its net income for the fourth quarter of 2019 was $7.9 million or $0.05 per share compared to a net loss of $13.7 million or $0.09 per share, for the same period in 2018.

Net revenues for the quarter rose to $170.75 million from $158.36 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.02 per share and revenues of $169.76 million. Analysts' estimates typically exclude special items.

Owen Kratz, President and Chief Executive Officer of Helix, said, "... Looking at 2020, we expect slow but continued improvement in the market, and we plan to maintain discipline as we continue to drive improvements in our operations and financial results."