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Hornbeck Offshore Services cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$46.7M in Q2 2026 · $235M over twelve months

Operating cash flow$53.9M
Capital spending−$7.2M
Free cash flow+$46.7M
Cash / net income2.4×
Cash conversion cycle17 days

Analysis

In Q2 2026, Hornbeck Offshore Services generated $53.9M of operating cash flow and spent $7.2M on capital projects, leaving free cash flow of $46.7M. That is $67.9M more than in Q2 2025 (−$21.2M).

Over the twelve months to Jun 30, 2026, operating cash flow was $253M; the largest uses were capital spending ($17.8M), net borrowing (+) / repaid (−) ($9.4M), taxes on employees’ shares ($208K); besides operations, cash came from other investing ($105M), shares issued ($1.5M); the cash balance rose by $332M.

Operating cash flow was $53.9M against net income of $22.7M — 2.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$39.5M, receivables −$37.7M, payables +$19.1M.

Its cash conversion cycle was 17 days (receivables 65 + inventory 0 − payables 48).

Free cash flow

Hornbeck Offshore Services: free cash flow by quarterHornbeck Offshore Services: free cash flow by quarter$52.5MQ3 2024$65.5MQ4 2024$12.0MQ1 2025−$21.2MQ2 2025$22.2MQ3 2025$107MQ4 2025$59.0MQ1 2026$46.7MQ2 2026
Operating cash flow less capital spending.
Hornbeck Offshore Services: operating cash flow against capital spendingHornbeck Offshore Services: operating cash flow against capital spendingOperating cash flowCapital spending$55.7M$3.2MQ3 2024$78.0M$12.5MQ4 2024$16.4M$4.5MQ1 2025−$17.1M$4.1MQ2 2025$24.3M$2.1MQ3 2025$113M$5.7MQ4 2025$61.8M$2.8MQ1 2026$53.9M$7.2MQ2 2026
Latest (Q2 2026): Operating cash flow $53.9M, Capital spending $7.2M.

Capital allocation, year by year

Hornbeck Offshore Services: where the cash came from (up) and went (down), by fiscal yearHornbeck Offshore Services: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $140MFY2021: Shares issued $654KFY2021: Asset sales $51KFY2021: Capital spending −$8.3M$141MFY2021FY2022: Operating cash flow $51.1MFY2022: Net borrowing −$42.9MFY2022: Shares issued $575KFY2022: Capital spending −$33.5MFY2022: Acquisitions −$113M$51.7MFY2022FY2023: Operating cash flow $152MFY2023: Net borrowing $37.4MFY2023: Shares issued $982KFY2023: Asset sales $365KFY2023: Capital spending −$19.6MFY2023: Buybacks −$12.0M$191MFY2023FY2024: Operating cash flow $186MFY2024: Net borrowing −$8.7MFY2024: Shares issued $1.9MFY2024: Asset sales $100KFY2024: Capital spending −$23.3MFY2024: Buybacks −$29.6M$188MFY2024FY2025: Operating cash flow $137MFY2025: Net borrowing −$9.2MFY2025: Shares issued $1.7MFY2025: Capital spending −$16.3M$138MFY2025
Over these 5 years operating cash flow totalled $666M; the largest uses were acquisitions ($113M) and capital spending ($101M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$652M
Debt$304M
Net cash$348M
Due within a year$9.5M

Hornbeck Offshore Services funds itself: free cash flow was $235M over the last twelve months, and $652M of cash and investments stands against $304M of debt ($9.5M due within a year, 68.5× covered by cash).

Where the cash came from and went

Hornbeck Offshore Services: sources (+) and uses (−) of cash, Q2 2026Hornbeck Offshore Services: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)−$151MOther investing$104MOperating cash flow$53.9MCapital spending−$7.2MShares issued$469KNot reconciled−$285KOther financing−$151KTaxes on employees’ shares$1K
Hornbeck Offshore Services: sources (+) and uses (−) of cash, TTM to Q2 2026Hornbeck Offshore Services: sources (+) and uses (−) of cash, TTM to Q2 2026Cash drawn (+) / kept (−)−$332MOperating cash flow$253MOther investing$105MCapital spending−$17.8MNet borrowing (+) / repaid (−)−$9.4MShares issued$1.5MNot reconciled$835KTaxes on employees’ shares−$208KOther financing−$151K

From profit to cash

Hornbeck Offshore Services: net income to operating cash flow, Q2 2026Hornbeck Offshore Services: net income to operating cash flow, Q2 2026Net income$22.7MDepreciation & amortization$39.5MStock-based pay$1.4MDeferred taxes$1.3MReceivables−$37.7MPayables$19.1MPrepaid and other assets−$3.1MOther operating capital−$3.2MOperating cash flow$53.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202665—4817
Q1 202674—4033
Q4 202583—4241
Q3 202584—4737
Q2 2025106—6343
Q1 202584—5529
Q4 202469—4524
Q3 202474—4827

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$53.9M−$7.2M——$469K−$151M$46.7M
Q1 2026$61.8M−$2.8M—−$4.8M$491K−$56.1M$59.0M
Q4 2025$113M−$5.7M———−$107M$107M
Q3 2025$24.3M−$2.1M—−$4.6M$508K−$18.3M$22.2M
Q2 2025−$17.1M−$4.1M——$509K$50.2M−$21.2M
Q1 2025$16.4M−$4.5M—−$4.5M$728K−$2.0M$12.0M
Q4 2024$78.0M−$12.5M−$19.4M——−$43.9M$65.5M
Q3 2024$55.7M−$3.2M—−$4.4M$741K−$49.1M$52.5M

Hornbeck Offshore Services: income statement and cash flow

Hornbeck Offshore Services, Q2 2026: revenue $304M (+21% year over year), operating margin 8.8%. The chart follows the revenue to costs, profit and cash.

Hornbeck Offshore Services: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.