Hornbeck Offshore Services reports Q3 2026 results after Helix merger
Hornbeck Offshore Services released its third‑quarter 2026 financials following the September 1 merger with Helix. Reported revenue was $293.34 million, a 47.3% year‑over‑year increase, but the company posted a net loss of $85.69 million and a diluted loss per share of $0.40. Management also presented adjusted results showing $503 million of revenue, $155 million of adjusted EBITDA and adjusted diluted EPS of $0.13, and gave 2027 adjusted EBITDA guidance of $500 million‑$550 million.
Why it matters
The company’s loss on a GAAP basis highlights the impact of merger integration costs, while the adjusted figures suggest underlying profitability and support the upbeat 2027 EBITDA guidance (the company expects). Investors will need to assess cash needs and the $1.9 billion backlog against the integration expenses and upcoming vessel deliveries.
Key facts
- 1Reported total revenue for Q3 2026 was $293.34 million, up 47.3% from $199.12 million a year earlier. tradingview.com
- 2GAAP net loss for the quarter was $85.69 million, compared with a $51.93 million profit a year earlier. tradingview.com
- 3Diluted GAAP EPS was a loss of $0.40, versus $0.28 a year earlier. tradingview.com
- 4Adjusted revenue for the combined entity was $503 million for the quarter. fool.com
- 5Adjusted EBITDA for the quarter was $155 million, representing a 31% margin. fool.com
- 6Adjusted diluted EPS for the quarter was $0.13, excluding $120 million of merger‑related costs. fool.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.