Helix Energy Solutions Group (NYSE:HLX) authorized a repurchase program for up to $200 million of Helix’s issued and outstanding shares.
The company also reported a Q4 beat and stock price scaled 2% during post-market hours.
President and CEO Owen Kratz commented, “We view this program as a prudent use of our capital and an excellent opportunity to deploy cash to shareholders. We expect to generally align execution of the program with our cash flow generation. With a strong balance sheet, ample liquidity, a robust offshore services market recovery, and our current expectation that we will generate strong cash flows, the share repurchase program should allow us to increase shareholder value while maintaining adequate cash and liquidity to fund our operations and investment opportunities.”
Stock price has scaled about 82% over the last one year and its market cap is at ~$1.16B.