May 5 - Helix Energy Solutions Group Inc (HLX.N) posted first-quarter earnings that beat analyst estimates, helped by higher margins and increased production, sending its shares up 9 percent in after the bell trading.
In the latest quarter, the operator of offshore oil and gas facilities, posted net income applicable to common shareholders of $53.5 million, or 50 cents a share, compared with $73.1 million, or 77 cents a share, a year ago.
The company said the quarterly results included items that impacted net income by 28 cents a share.
Revenue rose 29 percent to $571.0 million.
Contracting services revenue for the quarter rose to $230.9 million from $174.7 million, while shelf contracting revenue rose to $207.1 million from $144.6 million.
Analysts expected the company to earn 15 cents a share, before items, on revenue of $452 million, according to Reuters Estimates.
Shares of the Houston, Texas-based company rose to $10.65 in after market trading. They closed at $9.78 Tuesday on the New York Stock Exchange.
In the latest quarter, the operator of offshore oil and gas facilities, posted net income applicable to common shareholders of $53.5 million, or 50 cents a share, compared with $73.1 million, or 77 cents a share, a year ago.
The company said the quarterly results included items that impacted net income by 28 cents a share.
Revenue rose 29 percent to $571.0 million.
Contracting services revenue for the quarter rose to $230.9 million from $174.7 million, while shelf contracting revenue rose to $207.1 million from $144.6 million.
Analysts expected the company to earn 15 cents a share, before items, on revenue of $452 million, according to Reuters Estimates.
Shares of the Houston, Texas-based company rose to $10.65 in after market trading. They closed at $9.78 Tuesday on the New York Stock Exchange.
