Filing Flows › Hornbeck Offshore Services (HOS) › Q4 2024
Hornbeck Offshore Services (HOS) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 27, 2025
Hornbeck Offshore Services (HOS) reported revenue of $355M for the fourth quarter 2024 (Q4 2024), +6% from a year earlier and +4% from the quarter before. Operating margin was 8.7%, net earnings $20.1M (5.7% of revenue).
Hornbeck Offshore Services, Q4 2024: revenue $355M (+6% year over year), operating margin 8.7%, net earnings $20.1M, operating cash flow $78.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $355M | +4% | +6% |
| Gross profit | $58.9M | -10% | +19% |
| Operating profit | $30.9M | -31% | +101% |
| Net earnings | $20.1M | -32% | — |
| Operating cash flow | $78.0M | +40% | -18% |
| Free cash flow | $65.5M | — | -29% |
What changed
Revenue was $355.1M in Q4 2024, up 6% year over year and up 4% from the previous quarter. Production maximization was the largest line at 55% of revenue.
Gross margin was 16.6%, up 1.9 points from a year earlier. Operating profit was $30.9M, a 8.7% margin (up 4.1 points year over year). Of the extra revenue versus a year earlier, 78% reached operating profit, above the 5% margin then. Operating expenses fell 17% while revenue rose 6%. The fastest-growing cost line was SG&A (+20%). Net earnings were $20.1M. The effective tax rate was 16.2%.
Operating cash flow was $78.0M (down 18% year over year), 388% of net earnings. Non-cash charges added back $40.6M of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items added $15.6M. After capital expenditures, net of proceeds from asset sales and insurance recoveries ($12.5M), free cash flow as the company reports it was $65.5M.
Questions
What was Hornbeck Offshore Services' revenue in the fourth quarter 2024?
Hornbeck Offshore Services (HOS) reported revenue of $355M for the fourth quarter 2024 (Q4 2024), +6% from a year earlier and +4% from the quarter before.
Was Hornbeck Offshore Services profitable in the fourth quarter 2024?
Operating profit was $30.9M (8.7% of revenue) and net earnings $20.1M.