Helix Energy Solutions Group swung to net income of $22.7 million, or $0.15 a share, in Q2 2026 from a net loss a year earlier.
Adjusted EBITDA (non-GAAP) rose 64.65% to $69.9 million versus Q2 2025 as revenue climbed 20.79% to $304 million.
Cash and cash equivalents totaled $652.2 million at June 30, 2026; net debt was negative $347.9 million.
Discontinued operations and merger outlook
Operations from Helix Alliance were classified as discontinued; discontinued-operations net income was $7.5 million, including a $12.7 million gain on sale.
Helix expects its merger with Hornbeck to close Sept. 1, 2026, and withdrew its previously issued annual guidance.
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