Earnings ·
Hornbeck reports Q3 revenue of $293 million and Adj. EBITDA of $106 million following Helix merger
HLXHornbeck Offshore Services, Inc.
Hornbeck Offshore Services reported third-quarter 2026 total revenue of $293.3 million and Adjusted EBITDA of $105.9 million, reflecting the first full quarter of combined operations with Helix Energy Solutions. The company posted a net loss of $85.7 million due to $119.8 million in merger and integration costs, including accelerated stock-based compensation. Excluding these items, adjusted diluted earnings per share were $0.13. Hornbeck announced five-year integrated services agreements with Shell commencing in 2027 and committed to acquiring eight new work-class ROV systems. The company provided fourth-quarter Adjusted EBITDA guidance of $90 million to $100 million and full-year 2027 guidance of $500 million to $550 million. Hornbeck Offshore Services is a premier integrated offshore services company providing marine transportation, subsea services, and well intervention solutions.