$HAREHOLDER ALERT: The M&A Class Action Firm Continues To Investigate The Merger – BRZH, AMPY, FNA, HEES
Breeze Holdings Acquisition Corp. (OTC: BRZH), relating to its proposed merger with YD Biopharma Limited. Under the terms of the agreement, all Breeze Holdings ordinary shares will be converted into the right to receive one ordinary share of the surviving company.
Click here for more information: https://monteverdelaw.com/case/breeze-holdings-acquisition-corp-2/. It is free and there is no cost or obligation to you.
Amplify Energy Corp. (NYSE: AMPY), relating to the proposed merger with Juniper Capital. Under the terms of the agreement, Amplify shareholders will retain approximately 61% of Amplify's outstanding equity.
ACT NOW. The Shareholder Vote is scheduled for April 14, 2025.
Click here for more https://monteverdelaw.com/case/amplify-energy-corp-ampy/. It is free and there is no cost or obligation to you.
Paragon 28, Inc. (NYSE: FNA), relating to the proposed merger with Zimmer Biomet Holdings, Inc. Under the terms of the agreement, Zimmer Biomet will acquire all outstanding shares of Paragon 28 common stock for $13.00 per share. Paragon 28 shareholders will also receive a non-tradeable contingent value right entitling holders to receive up to $1.00 per share in cash if certain revenue milestones are achieved.
ACT NOW. The Shareholder Vote is scheduled for April 16, 2025.
Click here for more https://monteverdelaw.com/case/paragon-28-inc-fna/. It is free and there is no cost or obligation to you.
H&E Equipment Services, Inc. (NASDAQ: HEES), relating to the proposed merger with Herc Holdings Inc. Under the terms of the agreement, H&E shareholders will receive $78.75 in cash and 0.1287 shares of Herc common stock for each share they own. H&E's shareholders will own approximately 14.1% of the combined company.
ACT NOW. The Tender Offer expires on April 15, 2025.
Click here for more https://monteverdelaw.com/case/he-equipment-services-inc-hees/. It is free and there is no cost or obligation to you.
NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:
Do you file class actions and go to Court?
When was the last time you recovered money for shareholders?
What cases did you recover money in and how much?
About Monteverde & Associates PC
Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.
No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at [email protected] or by telephone at (212) 971-1341.
Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
Tel: (212) 971-1341
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Well Intervention operating income decreased $45.7 million during the second quarter 2025 compared to the second quarter 2024 primarily due to lower revenues, offset in part by lower vessel costs from stacking the Seawell and cost deferrals on the Q5000 docking during the second quarter 2025. Robotics Robotics revenues increased $34.5 million, or 68%, during the second quarter 2025 compared to the prior quarter. The increase in revenues was due to seasonally higher vessel days and trenching and ROV utilization compared to the prior quarter. During the second quarter 2025, chartered vessel activity increased to 537 days, or 95% utilization, compared to 244 days, or 67% utilization, and ROV and trencher utilization increased to 62% compared to 51% during the prior quarter. Integrated vessel trenching increased to 157 days during the second quarter 2025 compared to 135 days during the prior quarter. During the second quarter 2025, we launched our third IROV boulder grab, and site clearance operations using our IROV boulder grabs generated 190 days of utilization compared to 21 days during the prior quarter. Robotics operating income increased $13.7 million during the second quarter 2025 compared to the prior quarter primarily due to higher revenues, offset in part by increased vessel charter costs, during the second quarter 2025. Robotics revenues increased $4.3 million, or 5%, during the second quarter 2025 compared to the second quarter 2024. The increase in revenues was primarily due to increased chartered vessel and site clearance activities, offset in part by a reduction in ROV and trencher utilization compared to the second quarter 2024. The second quarter 2025 included 537 chartered vessel days, which included 190 days of site clearance operations using three IROV boulder grabs, compared to 528 chartered vessel days, which included 78 days of site clearance operations using two IROV boulder grabs, during the second quarter 2024. The second quarter 2025 also included 91 days of trenching on a third-party vessel, whereas there was no trenching from a third-party vessel during the second quarter 2024. Offsetting the increases were reductions in integrated vessel trenching days and ROV utilization. Integrated vessel trenching decreased to 157 days during the second quarter 2025 compared to 232 days during the second quarter 2024, and ROV utilization decreased to 64% during the second quarter 2025 compared to 80% during the second quarter 2024. Robotics operating income decreased $9.4 million during the second quarter 2025 due to higher vessel costs and lower margins compared to the second quarter 2024. Shallow Water Abandonment Shallow Water Abandonment revenues increased $33.8 million, or 201%, during the second quarter 2025 compared to the prior quarter. The increase in revenues reflected seasonally higher activity levels and utilization across all asset classes during the second quarter 2025. Vessel utilization (excluding heavy lift) increased to 61% during the second quarter 2025 compared to 31% during the prior quarter. Plug and Abandonment ("P&A") and Coiled Tubing ("CT") systems activity increased to 798 days, or 34% utilization, during the second quarter 2025 compared to 264 days, or 11% utilization, during the prior quarter. The Epic Hedron heavy lift barge had 38% utilization during the second quarter 2025 compared to being idle during the prior quarter. Shallow Water Abandonment generated an operating loss of $0.4 million during the second quarter 2025, an improvement of $13.1 million compared to the prior quarter primarily due to higher seasonal revenues and related operating costs during the second quarter 2025. Shallow Water Abandonment revenues decreased $0.2 million during the second quarter 2025 compared to the second quarter 2024 primarily due to lower day rates on our vessels and P&A systems, lower heavy lift utilization and weaker contract performance during the second quarter 2025, almost entirely offset by higher system and vessel utilization (excluding heavy lift). The Epic Hedron heavy lift barge had 38% utilization during the second quarter 2025 compared 46% utilization during the second quarter 2024. Offsetting these decreases were higher utilization on P&A and CT systems, which increased to 798 days, or 34%, during the second quarter 2025 compared to 632 days, or 27%, during the second quarter 2024 and higher utilization on vessels (excluding heavy lift), which increased to 61% during the second quarter 2025 compared to 58% during the second quarter 2024. Shallow Water Abandonment operating losses increased $0.1 million in the second quarter 2025 primarily due to lower revenues compared to the second quarter 2024. Production Facilities Production Facilities revenues decreased $2.8 million, or 14%, during the second quarter 2025 compared to the prior quarter primarily due to lower oil and gas production and prices from the Droshky field. The Droshky field had a full quarter of production during the first quarter 2025 but was shut in for approximately one month during the second quarter 2025, and the Thunder Hawk field remained shut in during both quarters. Additionally, oil prices were approximately $6 per barrel lower during the second quarter 2025 compared to the prior quarter. Production Facilities operating income decreased $2.5 million during the second quarter 2025 primarily due to lower revenues compared to the prior quarter. Production Facilities revenues decreased $8.3 million, or 33%, during the second quarter 2025 compared to the second quarter 2024 primarily due to lower oil and gas production and prices during the second quarter 2025. During the second quarter 2025, the Thunder Hawk field remained shut in the entire quarter and the Droshky field was shut in for approximately one month, whereas both fields had a full quarter of production during the second quarter 2024. Additionally, oil prices were approximately $15 per barrel lower during the second quarter 2025 compared to the second quarter 2024. Production Facilities operating income decreased $4.7 million during the second quarter 2025 primarily due to lower revenues offset in part by lower production-related costs compared to the second quarter 2024. Selling, General and Administrative and Other Share Repurchases Share repurchases totaled approximately 4.6 million shares of our common stock for approximately $30.0 million during the second quarter 2025. Selling, General and Administrative Selling, general and administrative expenses were $18.1 million, or 6.0% of revenue, during the second quarter 2025 compared to $19.4 million, or 7.0% of revenue, during the prior quarter and $22.3 million, or 6.1% of revenue, during the second quarter 2024. The decrease in expenses during the second quarter 2025 was primarily due to lower compensation costs compared to the prior quarter and prior year. Other Income and Expense Other income, net was $0.4 million during the second quarter 2025 compared to other expense, net of $0.4 million during the prior quarter and other expense, net of $0.4 million during the second quarter 2024. Other income and expense, net primarily includes net foreign currency gains and losses, respectively, related to the British pound on our U.K subsidiaries' foreign currency positions. Cash Flows Operating cash flows were $(17.1) million during the second quarter 2025 compared to $16.4 million during the prior quarter and $(12.2) million during the second quarter 2024. Second quarter 2025 operating cash flows decreased primarily due to lower earnings and higher working capital outflows compared to the prior quarter. Second quarter 2025 operating cash flows decreased compared to the second quarter 2024 primarily due to lower earnings and higher regulatory certification costs on our vessels and systems during the second quarter 2025, offset in part by the payment of $58.3 million related to the Alliance earn-out and by higher working capital outflows during the second quarter 2024. Regulatory certifications for our vessels and systems, which are included in operating cash flows, were $16.1 million during the second quarter 2025 compared to $17.9 million during the prior quarter and $10.7 million during the second quarter 2024. Capital expenditures, which are included in investing cash flows, totaled $4.5 million during the second quarter 2025 compared to $4.5 million during the prior quarter and $4.0 million during the second quarter 2024. Free Cash Flow was $(21.6) million during the second quarter 2025 compared to $12.0 million during the prior quarter and $(16.2) million during the second quarter 2024. The decrease in Free Cash Flow in the second quarter 2025 compared to the prior quarter and the second quarter 2024 was due primarily to lower operating cash flows during the second quarter 2025. (Free Cash Flow is a non-GAAP measure. See reconciliation below.) Financial Condition and Liquidity Cash and cash equivalents were $319.7 million at June 30, 2025. Available capacity under our ABL facility at June 30, 2025, was $70.5 million, and total liquidity was $374.9 million, excluding $15.3 million pledged toward our ABL facility. Consolidated long-term debt was $311.6 million at June 30, 2025, resulting in negative Net Debt of $8.1 million. (Net Debt is a non-GAAP measure. See reconciliation below.) Conference Call Information Further details are provided in the presentation for Helix's quarterly teleconference to review its second quarter 2025 results (see the Investor Relations page of Helix's website, The teleconference is scheduled for Thursday, July 24, 2025, at 9:00 a.m. Central Time. Investors and other interested parties wishing to participate in the teleconference should dial 1-800-715-9871 within the United States and 1-646-307-1963 outside the United States. The passcode is "Staffeldt." A live webcast of the teleconference will be available in a listen-only mode on the Investor Relations section of Helix's website. A replay of the webcast will be available on Helix's website shortly after the completion of the event. About Helix Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention, robotics and decommissioning operations. Our services are key in supporting a global energy transition by maximizing production of existing oil and gas reserves, decommissioning end-of-life oil and gas fields and supporting renewable energy developments. For more information about Helix, please visit our website at Non-GAAP Financial Measures Management evaluates operating performance and financial condition using certain non-GAAP measures, primarily EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt. We define EBITDA as earnings before income taxes, net interest expense, net other income or expense, and depreciation and amortization expense. Non-cash impairment losses on goodwill and other long-lived assets are also added back if applicable. To arrive at our measure of Adjusted EBITDA, we exclude gains or losses on disposition of assets, acquisition and integration costs, gains or losses related to convertible senior notes, the change in fair value of contingent consideration, and the general provision (release) for current expected credit losses, if any. We define Free Cash Flow as cash flows from operating activities less capital expenditures, net of proceeds from asset sales and insurance recoveries (related to property and equipment), if any. Net Debt is calculated as long-term debt including current maturities of long-term debt less cash and cash equivalents and restricted cash. We use EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt to monitor and facilitate internal evaluation of the performance of our business operations, to facilitate external comparison of our business results to those of others in our industry, to analyze and evaluate financial and strategic planning decisions regarding future investments and acquisitions, to plan and evaluate operating budgets, and in certain cases, to report our results to the holders of our debt as required by our debt covenants. We believe that our measures of EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt provide useful information to the public regarding our operating performance and ability to service debt and fund capital expenditures and may help our investors understand and compare our results to other companies that have different financing, capital and tax structures. Other companies may calculate their measures of EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt differently from the way we do, which may limit their usefulness as comparative measures. EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt should not be considered in isolation or as a substitute for, but instead are supplemental to, income from operations, net income, cash flows from operating activities, or other income or cash flow data prepared in accordance with GAAP. Users of this financial information should consider the types of events and transactions that are excluded from these measures. See reconciliation of the non-GAAP financial information presented in this press release to the most directly comparable financial information presented in accordance with GAAP. We have not provided reconciliations of forward-looking non-GAAP financial measures to comparable GAAP measures due to the challenges and impracticability with estimating some of the items without unreasonable effort, which amounts could be significant. Forward-Looking Statements This press release 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: our plans, strategies and objectives for future operations; any projections of financial items including projections as to guidance and other outlook information; future operations expenditures; our ability to enter into, renew and/or perform commercial contracts; the spot market; our current work continuing; visibility and future utilization; our protocols and plans; future economic or political conditions; energy transition or energy security; our spending and cost management efforts and our ability to manage changes; oil price volatility and its effects and results; our ability to identify, effect and integrate mergers, acquisitions, joint ventures or other transactions, including the integration of the Alliance acquisition and any subsequently identified legacy issues with respect thereto; developments; any financing transactions or arrangements or our ability to enter into such transactions or arrangements; our sustainability initiatives; our share repurchase program or execution; 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 market conditions and the demand for our services; volatility of oil and natural gas prices; complexities of global political and economic developments, including tariffs; results from mergers, acquisitions, joint ventures or similar transactions; results from acquired properties; our ability to secure and realize backlog; the performance of contracts by customers, suppliers and other counterparties; 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; the effectiveness of our sustainability initiatives and disclosures; human capital management issues; geologic risks; and other risks described from time to time in our filings with the Securities and Exchange Commission ("SEC"), including our most recently filed Annual Report on Form 10-K, which are available free of charge on the SEC's website at 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. HELIX ENERGY SOLUTIONS GROUP, INC. Comparative Condensed Consolidated Statements of Operations Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2025 2024 2025 2024 (unaudited) (unaudited) Net revenues $ 302,288 $ 364,797 $ 580,352 $ 661,008 Cost of sales 287,340 289,311 537,866 565,968 Gross profit 14,948 75,486 42,486 95,040 Loss on disposition of assets, net - - - (150 ) Selling, general and administrative expenses (18,100 ) (22,293 ) (37,466 ) (42,973 ) Income (loss) from operations (3,152 ) 53,193 5,020 51,917 Net interest expense (5,875 ) (5,891 ) (11,581 ) (11,368 ) Losses related to convertible senior notes - - - (20,922 ) Other income (expense), net 437 (382 ) 80 (2,598 ) Royalty income and other (5 ) 94 1,411 2,000 Income (loss) before income taxes (8,595 ) 47,014 (5,070 ) 19,029 Income tax provision (benefit) (5,997 ) 14,725 (5,544 ) 13,027 Net income (loss) $ (2,598 ) $ 32,289 $ 474 $ 6,002 Earnings (loss) per share of common stock: Basic $ (0.02 ) $ 0.21 $ 0.00 $ 0.04 Diluted $ (0.02 ) $ 0.21 $ 0.00 $ 0.04 Weighted average common shares outstanding: Basic 148,515 152,234 149,770 152,301 Diluted 148,515 155,024 150,539 155,072 Comparative Condensed Consolidated Balance Sheets June 30, 2025 Dec. 31, 2024 (in thousands) (unaudited) ASSETS Current Assets: Cash and cash equivalents $ 319,743 $ 368,030 Accounts receivable, net 327,921 258,630 Other current assets 112,735 83,022 Total Current Assets 760,399 709,682 Property and equipment, net 1,454,288 1,437,853 Operating lease right-of-use assets 314,263 329,649 Deferred recertification and dry dock costs, net 97,576 71,718 Other assets, net 46,035 48,178 Total Assets $ 2,672,561 $ 2,597,080 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 172,255 $ 144,793 Accrued liabilities 104,772 90,455 Current maturities of long-term debt 9,412 9,186 Current operating lease liabilities 61,525 59,982 Total Current Liabilities 347,964 304,416 Long-term debt 302,200 305,971 Operating lease liabilities 270,119 285,984 Deferred tax liabilities 114,734 113,973 Other non-current liabilities 68,768 66,971 Shareholders' equity 1,568,776 1,519,765 Total Liabilities and Equity $ 2,672,561 $ 2,597,080 HELIX ENERGY SOLUTIONS GROUP, INC. Comparative Condensed Consolidated Statements of Cash Flows Six Months Ended (in thousands) 6/30/2025 6/30/2024 (unaudited) Cash flows from operating activities: Net income $ 474 $ 6,002 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 87,871 89,824 Deferred recertification and dry dock costs (33,931 ) (20,330 ) Payment of earnout consideration - (58,300 ) Losses related to convertible senior notes - 20,922 Working capital and other (55,105 ) 14,202 Net cash provided by (used in) operating activities (691 ) 52,320 Cash flows from investing activities: Capital expenditures (8,958 ) (7,594 ) Proceeds from insurance recoveries - 363 Net cash used in investing activities (8,958 ) (7,231 ) Cash flows from financing activities: Repayments of long-term debt (4,537 ) (65,042 ) Repurchases of common stock (30,214 ) (10,189 ) Payment of earnout consideration - (26,700 ) Other financing activities (6,029 ) 405 Net cash used in financing activities (40,780 ) (101,526 ) Effect of exchange rate changes on cash and cash equivalents 2,142 (688 ) Net decrease in cash and cash equivalents (48,287 ) (57,125 ) Cash and cash equivalents: Balance, beginning of year 368,030 332,191 Balance, end of period $ 319,743 $ 275,066 Reconciliation of Non-GAAP Measures Three Months Ended Six Months Ended (in thousands, unaudited) 6/30/2025 6/30/2024 3/31/2025 6/30/2025 6/30/2024 Reconciliation from Net Income (Loss) to Adjusted EBITDA: Net income (loss) $ (2,598 ) $ 32,289 $ 3,072 $ 474 $ 6,002 Adjustments: Income tax provision (benefit) (5,997 ) 14,725 453 (5,544 ) 13,027 Net interest expense 5,875 5,891 5,706 11,581 11,368 Other (income) expense, net (437 ) 382 357 (80 ) 2,598 Depreciation and amortization 45,389 43,471 42,482 87,871 89,824 EBITDA 42,232 96,758 52,070 94,302 122,819 Adjustments: Loss on disposition of assets, net - - - - 150 General provision for (release of) current expected credit losses 198 137 (85 ) 113 (6 ) Losses related to convertible senior notes - - - - 20,922 Adjusted EBITDA $ 42,430 $ 96,895 $ 51,985 $ 94,415 $ 143,885 Free Cash Flow: Cash flows from operating activities $ (17,133 ) $ (12,164 ) $ 16,442 $ (691 ) $ 52,320 Less: Capital expenditures, net of proceeds from asset sales and insurance recoveries (4,470 ) (3,989 ) (4,488 ) (8,958 ) (7,231 ) Free Cash Flow $ (21,603 ) $ (16,153 ) $ 11,954 $ (9,649 ) $ 45,089 Net Debt: Long-term debt including current maturities $ 311,612 $ 318,629 $ 311,109 $ 311,612 $ 318,629 Less: Cash and cash equivalents (319,743 ) (275,066 ) (369,987 ) (319,743 ) (275,066 ) Net Debt $ (8,131 ) $ 43,563 $ (58,878 ) $ (8,131 ) $ 43,563 View source version on Contacts Erik Staffeldt - Executive Vice President and CFOPh: 281-618-0400email: estaffeldt@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
