Helix Energy Solutions Group Inc (HLX)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	200,356	50,616	15,393	79,909	137,838
Revenue	US$ in thousands	1,289,730	873,100	674,728	733,555	751,909
Gross profit margin		15.53%	5.80%	2.28%	10.89%	18.33%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $200,356K ÷ $1,289,730K
= 15.53%

The gross profit margin of Helix Energy Solutions Group Inc has exhibited fluctuation over the last five years. In 2023, the gross profit margin improved significantly to 15.53% from 5.80% in 2022, which indicates a strong increase in profitability from the previous year. This improvement may be the result of better cost control, pricing strategies, or operational efficiencies implemented by the company.

However, when comparing the 2023 gross profit margin to that of prior years, it is still below the levels seen in 2019 and 2020, where the company achieved margins of 18.33% and 10.89% respectively. This suggests that Helix Energy Solutions Group Inc may still have room for further improvement in optimizing its gross profit margins back to these higher levels.

Overall, the increased gross profit margin in 2023 is a positive sign of improved profitability for Helix Energy Solutions Group Inc, but it will be important for the company to sustain and potentially enhance this trend in the coming years to strengthen its financial performance.