HELIX ENERGY SOLUTIONS GROUP, INC. July 26, 2022
Second Quarter 2022 Conference Call
FORWARD-LOOKING STATEMENTS
This presentation contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding the COVID-19 pandemic and oil price volatility and their respective effects and results, our protocols and plans, our current work continuing, the spot market, our ability to identify, effect, and integrate acquisitions, joint ventures or other transactions, including the integration of the Alliance acquisition; our spending and cost reduction plans and our ability to manage changes; our strategy; any statements regarding visibility and future utilization; any projections of financial items including projections as to guidance and other outlook information; any statements regarding future operations expenditures; any statements regarding our plans, strategies and objectives for future operations; any statements regarding our ability to enter into, renew and/or perform commercial contracts; any statements concerning developments; any statements regarding our environmental, social and governance ("ESG") initiatives; any statements regarding future economic conditions or performance; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to the results and effects of the COVID-19 pandemic and actions by governments, customers, suppliers and partners with respect thereto; market conditions; results from acquired properties; demand for our services; the performance of contracts by suppliers, customers and partners; actions by governmental and regulatory authorities; operating hazards and delays, which include delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; our ability to secure and realize backlog; the effectiveness of our ESG initiatives and disclosures; human capital management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in our reports filed with the Securities and Exchange Commission ("SEC"), including our most recently filed Annual Report on Form 10-K and in our other filings with the SEC, which are available free of charge on the SEC's website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by law.
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PRESENTATION OUTLINE
- Executive Summary (pg. 4)
- Operational Highlights by Segment (pg. 9)
- Key Financial Metrics (pg. 16)
- 2022 Outlook (pg. 19)
- Non-GAAPReconciliations (pg. 27)
- Questions and Answers
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Executive Summary
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EXECUTIVE SUMMARY
($ in millions, except per share amounts, unaudited) | Three Months Ended | Six Months Ended | ||||||||||||
6/30/22 | 6/30/21 | 3/31/22 | 6/30/22 | 6/30/21 | ||||||||||
Revenues | $ | 163 | $ | 162 | $ | 150 | $ | 313 | $ | 325 | ||||
Gross profit (loss) | $ | (1) | $ | 3 | $ | (19) | $ | (20) | $ | 18 | ||||
(1)% | 2% | (12)% | (6)% | 5% | ||||||||||
Net loss1 | $ | (30) | $ | (14) | $ | (42) | $ | (72) | $ | (17) | ||||
Diluted loss per share | $ | (0.20) | $ | (0.09) | $ | (0.28) | $ | (0.47) | $ | (0.11) | ||||
Adjusted EBITDA2 | ||||||||||||||
Business segments | $ | 26 | $ | 34 | $ | 9 | $ | 36 | $ | 77 | ||||
Corporate, eliminations and other | (10) | (9) | (7) | (16) | (16) | |||||||||
Adjusted EBITDA2 | $ | 17 | $ | 25 | $ | 3 | $ | 19 | $ | 61 | ||||
Cash and cash equivalents3 | $ | 261 | $ | 244 | $ | 230 | $ | 261 | $ | 244 | ||||
Cash flows from operating activities | $ | (6) | $ | 53 | $ | (17) | $ | (23) | $ | 93 | ||||
Free Cash Flow2 | $ | (7) | $ | 47 | $ | (18) | $ | (25) | $ | 86 |
- Net loss attributable to common shareholders
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Adjusted EBITDA and Free Cash Flow are non-GAAP financial measures; see non-GAAP reconciliations on slide 28
3 Excludes restricted cash of $3 million, $71 million and $73 million as of 6/30/22, 6/30/21 and 3/31/22, respectively
Amounts may not add due to rounding
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Helix Energy Solutions Group Inc. published this content on 25 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 July 2022 22:28:05 UTC.
