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Tag: HLX

  • Helix Energy Solutions Group Inc. (HLX) Plummets on Missed Q1 2022 Earnings

    After the market closed on Monday, April 25, the offshore oil and gas industry company, Helix Energy Solutions Group Inc. (HLX) posted its latest earnings. The Q1 2022 earnings failing to impress investors caused the stock to lose a further 6.10% in the pre-market. This decline came after a downfall of 4.77% in the prior session. Thus, HLX reached a value of $4.31 per share in the pre-market while it was priced at $4.59 apiece at the close of regular trading.

    Source: iStock

    HLX’s Q1 2022 Performance

    For the first quarter of 2022, the company posted a net loss of $42.0 million or $0.28 per diluted share. Hence, the net loss was much wider than the consensus estimate of $0.19 with an earnings surprise of -47.37% while the year-ago loss stood at $0.02 per share.

    On the other hand, the company did manage to surpass expectations for the March quarter revenue by 9.44%. The reported revenue for the quarter was $150.13 million. But then it still showed a decline from the year-ago revenue of $163.42 million.

    Furthermore, the adjusted EBITDA for the quarter was $2.5 million against $36.2 million in the first quarter of 2021.

    According to the president and CEO of HLX, Owen Kratz, the reason for this is the company’s ongoing transition. A number of the company’s vessels are undergoing regulatory inspections while several others are performing short-term work at reduced rates.

    How Does the Market Look?

    Recently, the oil and gas industry has seen a boom in demand due to the Russia-Ukraine conflict. Numerous sanctions banning Russian oil and energy imports have resulted in the search for alternatives to the shortened supply. Global supply chain constraints, shipping bottlenecks, and hiking inflation have been prevalent in the market.

    So far, for the foreseeable future, the oil and gas industry and its segments including offshore equipment and services are expected to see an increase in demand as the Russia-Ukraine conflict continues.

    HLX’s Outlook

    While the market saw an uptick in demand amid the ongoing geopolitical instability, HLX wasn’t able to keep up due to ongoing inspections and short-term projects of its vessels. But the company is hopeful for better performance as it continues to contract long-term awards. So far, the company has won a long term contract with Trident in Brazil and another multi-year contract with Shell in the U.S. As it continues to improve with the extensions of its charters on the Siem Helix vessels, the company hopes to do better in the second half od 2022 and continue growing in 2023.

  • Top Stocks to Watch Today as Retail Bankruptcies Dampen Outlook

    Top Stocks to Watch Today as Retail Bankruptcies Dampen Outlook

    It’s a mixed day ahead for the U.S equity markets, as the full effects of the coronavirus begin to take effect. The number of permanent job losses in the restaurant market is on the rise, pointing to more pain for the U.S labor market. The number of retail bankruptcies is on the rise too. The Wall Street Journal has reported that the number of bankruptcies is rising faster than many analysts had anticipated. However, even in this environment, there are stocks that are on the rise ahead of markets. The biggest gainers in the current market are mainly in the biotech and energy sectors and are driven by product developments and strong earnings by various industry players. Some of the big players ahead of markets are as below:

    Entera Bio Ltd [NASDAQ:ENTX]

    This is one of the top gainers in pre-market trading and is up by 81% at the time of writing. It’s strong upside momentum after the company announced that it had recorded positive results on its market survey for oral results.  The company has stated that about 85% of clinicians that took part in the survey said they would prescribe PTH in the treatment of moderate and even severe osteoporosis. This is a big deal because PTH can be used to handle the unmet needs that include the improvement of patient comfort. For Entera Bio Ltd, this means that there is a potential to grow in the multibillion-dollar global market focused on the treatment of Osteoporosis. The exposure on market potential by this survey has excited the market and given this stock a renewed optimism.

    Helix Energy Solutions Group Inc [NASDAQ:HLX]

    Helix  Energy Solutions is another top gainer pre-market and is up by 24.51%. The stock’s rally following the release of strong Q2 earnings that beat analysts’ expectations. The company reported an EPS of $0.04 beating analyst expectations of an EPS loss of $0.02.  The company’s revenues also rose to $199.15 million in the quarter, beating analyst expectations by 14.67%. This points to a strengthening of the company’s position in the market.

    Liquid Media Group Ltd [NASDAQ:YVR]

    Liquid Media Group Ltd is another top performer pre-market and is up by 80%. This comes after the company’s announcement that it had partnered with two digital agencies with the goal of transforming its streaming platform. It will be interesting to see how news of the partnership plays out in its price action when markets open.