Helix Energy Solutions Group (NYSE: HLX), a leading provider of specialty services to the offshore energy industry, witnessed a remarkable surge in its stock price, soaring 9.24% on Tuesday's pre-market trading session. This impressive rally was fueled by the company's exceptional financial performance in the fourth quarter of 2024 and a robust outlook for the upcoming year.

For the fourth quarter, Helix Energy Solutions reported revenue of $355.13 million, surpassing analysts' estimates of $311.69 million by a significant 13.94%. Additionally, the company's adjusted earnings per share (EPS) of $0.13 exceeded the consensus estimate of $0.09 by a remarkable 44.44%. Compared to the same period last year, Helix's revenue increased by 5.96%, while its EPS skyrocketed from a loss of $0.19 per share to a profit of $0.13.

The company's strong performance was driven by improved operational efficiency, higher utilization rates, and favorable pricing trends across its core business segments. Helix's adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the fourth quarter stood at $71.64 million, exceeding analysts' expectations and representing a year-over-year increase. For the full year 2024, Helix reported revenue of $1.36 billion, up from $1.29 billion in 2023, and an adjusted EBITDA of $303.15 million, reflecting an 11% increase compared to the previous year.