Helix Upgrades 2013 EBITDA Guidance to $300M

Helix Energy Solutions Group, Inc. announced that it is upgrading its 2013 EBITDA guidance to approximately $290 – $300 million.

The current forecast of stronger than expected fourth quarter results for Robotics, along with the Skandi Constructor’s continued performance in well intervention mode, both contribute to this upgrade.

Although the H534 is not expected to begin work until January 2014, strong operating performance of the Company’s existing asset base is expected to more than offset the delay in contributions from the H534. Also, the Company plans to accelerate the timing of the Well Enhancer dry dock to December of this year. This move is expected to reduce the number of days out of service for the Well Enhancer in 2014.

Owen Kratz, Helix’s President and Chief Executive Officer, stated, “The Company currently expects to issue 2014 guidance in line with its previously announced 2013 exit rate of $350 million.”

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Press Release, December 13, 2013; Image: Shipspotting