Helix Energy Solutions Group, Inc. · NYSE:HLX
Helix Energy Solutions — Q2 2026 Earnings Presentation
18 slides from Helix Energy Solutions's earnings presentation, Aug 6, 2026
Slide 1: Second Quarter 2026 Earnings Presentation
August 6, 2026 Second Quarter 2026 Earnings Presentation
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical
Slide 3: Agenda
Agenda • Executive Summary (pg. 4) • Operational Highlights (pg. 8) • Key Financial Metrics and Outlook (pg. 12) • Non-GAAP Reconciliations (pg. 15) Page 3 © 2026 Helix ESG 3
Slide 4: Executive Summary
Helix ENERGY SOLUTIONS
Slide 5: Transformative Transactions
Transformative Transactions Helix Alliance Sale • We sold Helix Alliance on May 1, 2026 for $107.5 million cash, excluding $3.3 million of cash sold, transaction costs and other customary closing items • Net gain pre-tax on sale of $16 million, or $0.11 per diluted share • Financial results of Helix
Slide 6: Summary of Results
Summary of Results ($ in millions, except per share amounts, unaudited) Three Months Ended Six Months Ended 6/30/26 6/30/25 3/31/26 6/30/26 6/30/25 Revenues $ 304 $ 252 $ 267 $ 571 $ 513 Gross profit $ 56 $ 13 $ 18 $ 74 $ 53 18% 5% 7% 13% 10% Income (loss) from continuing operations $ 15 $ (5) $ (5)
Slide 7: Second Quarter 2026 Highlights
Second Quarter 2026 Highlights Revenue By Market Strategy2 Financial Results Quarter Ended June 30, 2026 • Net income of $23 million, $0.15 per diluted share • Adjusted EBITDA1 of $70 million (including $75 million from continuing operations) • Operating cash flows of $54 million Decommissioning • F
Slide 8: Operational Highlights
Operational Highlights
Slide 9: Segment Results
Segment Results ($ in milli ons, unaudi ted) Three Months Ended Six Months Ended 6/30/26 6/30/25 3/31/26 6/30/26 6/30/25 Revenues Well Intervention $ 208 $ 157 $ 209 $ 418 $ 355 Robotics 76 86 62 139 137 Production Facilities 30 17 19 48 37 Intercompany eliminations (10) (8) (24) (34) (16) Total $ 3
Slide 10: Well Intervention
Well Intervention • Q5000 (Gulf of America) – 100% utilized in Q2; performed multi-well production enhancement and abandonment scopes for Shell • Q4000 (Gulf of America) – 77% utilized in Q2; completed multi-well production enhancement scopes for Oxy and single-well production enhancement scope for
Slide 11: Robotics
Robotics • Grand Canyon II (North Sea) – transited from Singapore to North Sea in Q2; ended quarter mobilizing our T-1200 subsea trencher onboard the vessel • Grand Canyon III (North Sea) – 89 days (100%) utilized in Q2; performed renewables trenching for one customer • North Sea Enabler (North Sea)
Slide 12: Key Financial Metrics and Outlook
Key Financial Metrics and Outlook
Slide 13: Debt Instrument Profile
Debt Instrument Profile Debt and Liquidity Profile at 6/30/26 Principal Payment Schedule at 6/30/26 ($ in millions) ($ in millions) $717 $554 $652 $431 $430 $348 $445 $300 $368 $332 $137 $53 $(30) $5 ($315) ($308) ($304) $5 ($362) 2026 2027 2028 2029 12/31/23 12/31/24 12/31/25 6/30/26 MARAD 2029 Sen
Slide 14: 2026 Outlook and Capital Spend
2026 Outlook and Capital Spend Due to the pending merger with Hornbeck, we have withdrawn our previously issued annual guidance and suspended providing earnings guidance updates. We provide updated qualitative information below for our continuing operations: Well Intervention Robotics • Q5000 (Gulf
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations Ee Helix ENERGY SOLUTIONS
Slide 16: Non-GAAP Reconciliations
Non-GAAP Reconciliations Three Months Ended Six Months Ended ($ in thousands, unaudited) 6/30/26 6/30/25 3/31/26 6/30/26 6/30/25 Reconciliation from Net Income (Loss) to Adjusted EBITDA: Net income (loss) $ 22,720 $ (2,598) $ (13,406) $ 9,314 $ 474 Less: Income (loss) from discontinued operations (7
Slide 17: Non-GAAP Reconciliations
Non-GAAP Reconciliations Non-GAAP Financial Measures We define Adjusted EBITDA as earnings before income taxes, net interest expense, depreciation and amortization expense, net other income or expense, gains or losses on disposition of assets, long-lived asset impairment losses, transaction-related
Slide 18: Page 18 © 2026 Helix ESG
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