Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of deep-sea contractor Helix Energy Solutions
So what: Revenue was up 45% from last year to $291.6 million and earnings reached $25.9 million, or $0.24 per share. Earnings easily beat analysts' expectations of $0.10 per share. However, revenue fell well short of the $311.5 million analysts expected.
Now what: Higher oil and gas sales made up for a loss in contracting service revenue that led to the disappointing revenue number. But if oil prices remain high the company should continue to capitalize on oil production, which is now the company's largest segment. This positive earnings report should help push shares higher as long as oil prices remain high.
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