Helix Energy's EVP Ken Neikirk sells $770,197 in shares

Published 02/01/2025, 22:36
Helix Energy's EVP Ken Neikirk sells $770,197 in shares

HOUSTON—Ken Neikirk, Executive Vice President, General Counsel, and Secretary of Helix Energy Solutions Group Inc . (NYSE:HLX), recently sold 83,991 shares of the company’s common stock. The transaction, which took place on December 30, 2024, was executed at a weighted average price of $9.17 per share, totaling approximately $770,197.

Following the sale, Neikirk retains 104,549 shares in direct ownership. The shares were sold in multiple transactions at prices ranging from $9.025 to $9.28, as noted in the filing. Neikirk has committed to providing detailed information on the individual transaction prices if requested by Helix Energy Solutions, its shareholders, or the Securities and Exchange Commission.

In other recent news, Helix Energy Solutions Group reported its third-quarter financial results, revealing a Q3 revenue of $342 million and a net income of $29.5 million. Despite challenges, the company secured new contracts and raised its free cash flow guidance for the year. Adjusted EBITDA for Q3 stood at $88 million, with year-to-date figures totaling $1 billion in revenues and $161 million in gross profit. The company revised its 2024 revenue guidance to $1.3 billion to $1.365 billion and adjusted EBITDA to $280 million to $310 million.

Helix Energy Solutions Group also increased its free cash flow guidance for 2024 to $120 million to $150 million. The company anticipates free cash flow to exceed $200 million next year. Helix secured new long-term contracts with Petrobras and Shell (LON:SHEL), creating a backlog exceeding $800 million. The company expects a $60 million to $100 million increase in EBITDA for well interventions in 2025.

However, the company's Q3 performance was adversely affected by vessel mobilization and weather-related downtime, which deferred revenues and increased costs. The EBITDA guidance for 2024 has been lowered by $5 million at the midpoint due to the impacts of weather and production shut-ins. These are recent developments in the company's financial performance and strategic direction.

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