HORNBECK OFFSHORE SERVICES, INC. — Form 8-K
Filed September 3, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 72/100
What the filing says
Hornbeck Offshore Services completed a merger with Helix Energy Solutions on September 1, 2026, creating a combined entity with 85 vessels (57 OSVs, 15 MPSVs, 7 well intervention vessels, 5 chartered), ~327 million fully diluted shares outstanding, and pro forma LTM adjusted EBITDA of $551 million (2Q2026). The combined company has $2.0 billion total backlog, $3.4 billion market capitalization, 0.4x net debt/EBITDA, and expects $75 million in annual synergies within three years. Hornbeck owns 55% and Helix 45% of the combined entity on a fully diluted basis.
Why this rating
Transformational M&A nearly doubling EBITDA ($551M combined vs. ~$280M legacy), strengthening balance sheet (0.4x leverage), diversifying revenue (28% non-oil/gas), adding $2B backlog. Materially expands scale relative to $855M market cap—economically significant for this company size.
Tradability signal
NO TRADE
No trade: positive news with no measurable pre-read move — good news prices in within seconds and long-side continuation has shown no measured edge (this cell: -0.35% over 4 hrs, n=23).
Derived from this site's own measured outcomes + live price/liquidity at analysis time. An experiment, not investment advice.
Price action (we called it positive)
at our read · unknown $10.60 | +10 min · unknown $10.60 ▲ 0.00% | +30 min · unknown $10.60 ▲ 0.00% | +1 hr · unknown $10.60 ▲ 0.00% | +4 hrs pending |
Quotes via Yahoo Finance at capture time; sessions other than regular hours are labeled. Not investment advice. How accurate are our calls? →
See more from September 3, 2026.
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