Filing Flows › Hornbeck Offshore Services (HOS) › Q1 2026
Hornbeck Offshore Services (HOS) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 24, 2026
Hornbeck Offshore Services (HOS) reported revenue of $288M for the first quarter 2026 (Q1 2026), +4% from a year earlier and -14% from the quarter before. Operating margin was -4.6%, net loss $13.4M (4.7% of revenue).
Hornbeck Offshore Services, Q1 2026: revenue $288M (+4% year over year), operating margin -4.6%, net loss $13.4M, operating cash flow $61.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $288M | -14% | +4% |
| Operating profit | −$13.3M | -209% | -263% |
| Net earnings | −$13.4M | -262% | -536% |
| Operating cash flow | $61.8M | -45% | +276% |
| Free cash flow | $59.0M | — | +393% |
What changed
Revenue was $287.9M in Q1 2026, up 4% year over year and down 14% from the previous quarter. Decommissioning was the largest line at 57% of revenue. Decommissioning added $46.6M year over year (up 40%), 472% of the total change. Production maximization declined 43%.
Gross margin was 3.1%, down 6.8 points from Q1 2025. Operating costs exceeded revenue by $13.3M, an operating margin of -4.6%. Operating expenses grew 14% against revenue growth of 4%. The quarter ended with a net loss of $13.4M, after a profit of $8.3M the previous quarter.
Operating cash flow was $61.8M (up 276% year over year). Non-cash charges added back $43.9M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items added $30.0M. After capital expenditures, net of proceeds from asset sales ($2.8M), free cash flow as the company reports it was $59.0M.
Questions
What was Hornbeck Offshore Services' revenue in the first quarter 2026?
Hornbeck Offshore Services (HOS) reported revenue of $288M for the first quarter 2026 (Q1 2026), +4% from a year earlier and -14% from the quarter before.
Was Hornbeck Offshore Services profitable in the first quarter 2026?
Operating loss was $13.3M (-4.6% of revenue) and net loss $13.4M.