Hornbeck Offshore Services (HOS)
Market Price (10/20/2026): $6.825 | Market Cap: $-Sector: Industrials | Industry: Marine Transportation
Hornbeck Offshore Services (HOS)
Market Price (10/20/2026): $6.825Market Cap: $-Sector: IndustrialsIndustry: Marine Transportation
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 45% Megatrend and thematic driversMegatrends include Offshore Wind Development, and US Energy Independence. Themes include Offshore Wind Project Development, and US Oilfield Technologies. | Weak multi-year price returns2Y Excs Rtn is -66%, 3Y Excs Rtn is -113% | Key risksHOS key risks include [1] challenges in successfully integrating its recent merger with Helix Energy Solutions Group. |
| Low stock price volatilityVol 12M is 45% |
| Megatrend and thematic driversMegatrends include Offshore Wind Development, and US Energy Independence. Themes include Offshore Wind Project Development, and US Oilfield Technologies. |
| Weak multi-year price returns2Y Excs Rtn is -66%, 3Y Excs Rtn is -113% |
| Key risksHOS key risks include [1] challenges in successfully integrating its recent merger with Helix Energy Solutions Group. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 10/14/2026
Hornbeck Offshore Services (HOS) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Hornbeck Offshore Services reported lower-than-expected revenue for fiscal Q2 2026. The company announced Q2 2026 earnings on August 6, 2026, with actual revenue of $304.02 million, missing analyst estimates by 6.4%. While the company did beat EPS expectations by 114.3% with an actual EPS of $0.15, the revenue miss likely contributed to negative investor sentiment.
2. The all-stock merger with Helix Energy Solutions on September 1, 2026, introduced investor uncertainty. Hornbeck and Helix completed their merger on September 1, 2026, to form an integrated offshore services company. Such significant corporate transactions, especially all-stock deals, can lead to short-term stock volatility as the market assesses integration risks, potential dilution, and the long-term value of the combined entity.
Show more
Hornbeck Offshore Services (HOS) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Hornbeck Offshore Services reported lower-than-expected revenue for fiscal Q2 2026. The company announced Q2 2026 earnings on August 6, 2026, with actual revenue of $304.02 million, missing analyst estimates by 6.4%. While the company did beat EPS expectations by 114.3% with an actual EPS of $0.15, the revenue miss likely contributed to negative investor sentiment.
2. The all-stock merger with Helix Energy Solutions on September 1, 2026, introduced investor uncertainty. Hornbeck and Helix completed their merger on September 1, 2026, to form an integrated offshore services company. Such significant corporate transactions, especially all-stock deals, can lead to short-term stock volatility as the market assesses integration risks, potential dilution, and the long-term value of the combined entity.
Show more
Updated on 10/14/2026
Hornbeck Offshore Services (HOS) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Hornbeck Offshore Services reported lower-than-expected revenue for fiscal Q2 2026. The company announced Q2 2026 earnings on August 6, 2026, with actual revenue of $304.02 million, missing analyst estimates by 6.4%. While the company did beat EPS expectations by 114.3% with an actual EPS of $0.15, the revenue miss likely contributed to negative investor sentiment.
2. The all-stock merger with Helix Energy Solutions on September 1, 2026, introduced investor uncertainty. Hornbeck and Helix completed their merger on September 1, 2026, to form an integrated offshore services company. Such significant corporate transactions, especially all-stock deals, can lead to short-term stock volatility as the market assesses integration risks, potential dilution, and the long-term value of the combined entity.
3. A forecasted downturn in U.S. Gulf of Mexico offshore crude oil production has dampened industry outlook. The U.S. Energy Information Administration (EIA) projects a decline in U.S. offshore crude oil production, with an expected average of 2.03 million barrels per day (bpd) in 2026, falling to 1.9 million bpd by 2027. This anticipated contraction in a key operational area for Hornbeck Offshore Services can signal reduced demand for its marine and subsea support services, negatively impacting investor confidence.
4. Temporary production curtailments in the Gulf of Mexico impacted demand for offshore services in fiscal Q3 2026. In fiscal Q3 2026, major operators in the Gulf of Mexico, such as Occidental Petroleum, experienced temporary production curtailments due to third-party pipeline constraints and maintenance activities. These operational disruptions can directly affect the demand for offshore support vessels and services, thereby impacting companies like Hornbeck Offshore Services that operate in the region.
Show less
Hornbeck Offshore Services (HOS) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Hornbeck Offshore Services reported lower-than-expected revenue for fiscal Q2 2026. The company announced Q2 2026 earnings on August 6, 2026, with actual revenue of $304.02 million, missing analyst estimates by 6.4%. While the company did beat EPS expectations by 114.3% with an actual EPS of $0.15, the revenue miss likely contributed to negative investor sentiment.
2. The all-stock merger with Helix Energy Solutions on September 1, 2026, introduced investor uncertainty. Hornbeck and Helix completed their merger on September 1, 2026, to form an integrated offshore services company. Such significant corporate transactions, especially all-stock deals, can lead to short-term stock volatility as the market assesses integration risks, potential dilution, and the long-term value of the combined entity.
3. A forecasted downturn in U.S. Gulf of Mexico offshore crude oil production has dampened industry outlook. The U.S. Energy Information Administration (EIA) projects a decline in U.S. offshore crude oil production, with an expected average of 2.03 million barrels per day (bpd) in 2026, falling to 1.9 million bpd by 2027. This anticipated contraction in a key operational area for Hornbeck Offshore Services can signal reduced demand for its marine and subsea support services, negatively impacting investor confidence.
4. Temporary production curtailments in the Gulf of Mexico impacted demand for offshore services in fiscal Q3 2026. In fiscal Q3 2026, major operators in the Gulf of Mexico, such as Occidental Petroleum, experienced temporary production curtailments due to third-party pipeline constraints and maintenance activities. These operational disruptions can directly affect the demand for offshore support vessels and services, thereby impacting companies like Hornbeck Offshore Services that operate in the region.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The -21.9% change in HOS stock from 6/30/2026 to 10/19/2026 was primarily driven by a 0.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 6302026 | 10192026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.74 | 6.83 | -21.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | � | 0.0% |
| Net Income Margin (%) | � | � | 0.0% |
| P/E Multiple | � | � | 0.0% |
| Shares Outstanding (Mil) | � | � | 0.0% |
| Cumulative Contribution | 0.0% |
Market Drivers
6/30/2026 to 10/19/2026| Return | Correlation | |
|---|---|---|
| HOS | -21.9% | |
| Market (SPY) | 2.6% | -3.2% |
| Sector (XLI) | -10.0% | -3.8% |
Fundamental Drivers
The -30.9% change in HOS stock from 3/31/2026 to 10/19/2026 was primarily driven by a 0.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312026 | 10192026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.89 | 6.83 | -30.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | � | 0.0% |
| Net Income Margin (%) | � | � | 0.0% |
| P/E Multiple | � | � | 0.0% |
| Shares Outstanding (Mil) | � | � | 0.0% |
| Cumulative Contribution | 0.0% |
Market Drivers
3/31/2026 to 10/19/2026| Return | Correlation | |
|---|---|---|
| HOS | -30.9% | |
| Market (SPY) | 18.2% | -0.6% |
| Sector (XLI) | 3.3% | -8.4% |
Fundamental Drivers
nullnull
Market Drivers
9/30/2025 to 10/19/2026| Return | Correlation | |
|---|---|---|
| HOS | 4.1% | |
| Market (SPY) | 16.0% | 15.2% |
| Sector (XLI) | 9.0% | 16.3% |
Fundamental Drivers
nullnull
Market Drivers
9/30/2023 to 10/19/2026| Return | Correlation | |
|---|---|---|
| HOS | -38.9% | |
| Market (SPY) | 85.5% | 38.0% |
| Sector (XLI) | 71.0% | 39.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HOS Return | -26% | 137% | 39% | -9% | -33% | 9% | 63% |
| Peers Return | 23% | 62% | 42% | 0% | -12% | 46% | 264% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| HOS Win Rate | 50% | 67% | 58% | 33% | 42% | 60% | |
| Peers Win Rate | 50% | 60% | 65% | 53% | 47% | 66% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| HOS Max Drawdown | -56% | -54% | -28% | -30% | -41% | -37% | |
| Peers Max Drawdown | -36% | -40% | -24% | -32% | -39% | -21% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HOS, KEX, MATX, SFL, SMHI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/19/2026 (YTD)
How Low Can It Go
| Event | HOS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -26.8% | -18.8% |
| % Gain to Breakeven | 36.6% | 23.1% |
| Time to Breakeven | 301 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.8% | -6.7% |
| % Gain to Breakeven | 29.5% | 7.1% |
| Time to Breakeven | 41 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.0% | -24.5% |
| % Gain to Breakeven | 35.2% | 32.4% |
| Time to Breakeven | 13 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -88.8% | -33.7% |
| % Gain to Breakeven | 795.0% | 50.9% |
| Time to Breakeven | 1210 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -48.5% | -19.2% |
| % Gain to Breakeven | 94.2% | 23.8% |
| Time to Breakeven | 1709 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -36.8% | -3.7% |
| % Gain to Breakeven | 58.2% | 3.9% |
| Time to Breakeven | 131 days | 6 days |
In The Past
Hornbeck Offshore Services's stock fell -26.8% during the 2025 US Tariff Shock. Such a loss loss requires a 36.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | HOS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -26.8% | -18.8% |
| % Gain to Breakeven | 36.6% | 23.1% |
| Time to Breakeven | 301 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.8% | -6.7% |
| % Gain to Breakeven | 29.5% | 7.1% |
| Time to Breakeven | 41 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.0% | -24.5% |
| % Gain to Breakeven | 35.2% | 32.4% |
| Time to Breakeven | 13 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -88.8% | -33.7% |
| % Gain to Breakeven | 795.0% | 50.9% |
| Time to Breakeven | 1210 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -48.5% | -19.2% |
| % Gain to Breakeven | 94.2% | 23.8% |
| Time to Breakeven | 1709 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -36.8% | -3.7% |
| % Gain to Breakeven | 58.2% | 3.9% |
| Time to Breakeven | 131 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -63.1% | -12.2% |
| % Gain to Breakeven | 171.1% | 13.9% |
| Time to Breakeven | 67 days | 62 days |
In The Past
Hornbeck Offshore Services's stock fell -26.8% during the 2025 US Tariff Shock. Such a loss loss requires a 36.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Hornbeck Offshore Services (HOS)
Hornbeck Offshore Services (HOS) is a marine transportation and support company primarily serving the offshore oil and gas industry. It specializes in providing critical logistical and operational assistance for exploration, production, and development activities, particularly in deepwater and ultra-deepwater environments.
The company's core services revolve around its fleet of U.S.-flagged offshore supply vessels (OSVs) and multi-purpose support vessels (MPSVs). These vessels are essential for transporting personnel, supplies, and equipment, as well as providing subsea installation, accommodation support, and specialized services like well stimulation, inspection, repair, and maintenance. HOS also manages a shore-based facility for logistics and offers vessel management services to other vessel owners.
Hornbeck Offshore Services primarily caters to a diverse client base including exploration and production companies, oilfield service providers, and offshore construction firms. Additionally, it serves the U.S. military. While operating internationally, its main operational focus is in the U.S. Gulf of Mexico and Latin America, supporting the complex demands of offshore energy development in these key regions.
AI Analysis | Feedback
Here are 1-3 brief analogies for Hornbeck Offshore Services (HOS):
- FedEx for offshore oil and gas operations.
- United Rentals, but for specialized marine vessels serving the offshore energy industry.
AI Analysis | Feedback
- Marine Transportation Services: Provides transport of personnel, supplies, and equipment to offshore oil and gas operations via its fleet of vessels.
- Subsea Installation Services: Offers specialized vessel support for the installation of underwater equipment and structures.
- Offshore Accommodation Services: Provides floating accommodation solutions for personnel working on offshore oil and gas projects.
- Offshore Logistics Support: Delivers comprehensive logistical support from its vessels and shore-based facilities for offshore operations.
- Specialty Offshore Field Support Services: Supports deep-well, deepwater, and ultra-deepwater activities including exploration, field development, production, construction, well-stimulation, and inspection, repair, and maintenance.
- Third-Party Vessel Management Services: Manages vessels for other owners, encompassing crewing, daily operational management, and maintenance activities.
AI Analysis | Feedback
Major Customers of Hornbeck Offshore Services (HOS)
Hornbeck Offshore Services primarily sells its services to other companies and government entities. Based on the provided background, its major customers fall into the following categories:- Exploration and production (E&P) companies in the offshore oil and gas industry.
- Oilfield service companies that support offshore oil and gas activities.
- Offshore construction companies involved in building and maintaining offshore infrastructure.
- The U.S. military.
AI Analysis | Feedback
null
AI Analysis | Feedback
## Hornbeck Offshore Services Management Team
**Todd M. Hornbeck** – President, Chief Executive Officer, and Director
Todd M. Hornbeck founded Hornbeck Offshore Services, Inc. in June 1997. Prior to establishing the current company, Mr. Hornbeck was employed by the original Hornbeck Offshore Services, Inc., which was founded by his father, from 1991 to 1996, serving in various roles related to business strategy and development. Following the original company's merger with Tidewater Inc. in March 1996, he served as a Marketing Director—Gulf of Mexico for Tidewater until the formation of his own company.
**R. Potter Adams** – Executive Vice President and Chief Financial Officer
R. Potter Adams was appointed as the Chief Financial Officer of the combined Hornbeck Offshore Services, Inc. following its merger with Helix Energy Solutions Group, Inc., effective September 1, 2026.
**Scott "Scotty" A. Sparks** – Executive Vice President and Chief Operating Officer – Subsea Services and Well Intervention
Scotty Sparks joined Helix in 2001 and served as Executive Vice President and Chief Operating Officer of Helix Energy Solutions Group, Inc. prior to the merger. His previous roles at Helix include Executive Vice President – Operations from May 2015 to February 2016, and Vice President – Commercial and Strategic Development from October 2012 to May 2015. Mr. Sparks also held various positions within Helix Robotics Solutions, Inc. (formerly Canyon Offshore, Inc.), including Senior Vice President from 2007 to September 2012. He possesses over 36 years of experience in the subsea industry, including time as an Operations Manager and Vessel Superintendent at Global Marine Systems and BT Marine Systems.
**Ben D. Todd** – Executive Vice President and Chief Operating Officer – Marine Transportation and Specialty
Ben D. Todd was appointed Executive Vice President and Chief Operating Officer – Marine Transportation and Specialty for the combined Hornbeck Offshore Services, Inc. as of September 1, 2026, following the merger with Helix Energy Solutions Group, Inc. He has been identified as a Vice President and COO of Beier Integrated Systems, a company involved in dynamic positioning systems for marine operations.
**Samuel A. Giberga** – Executive Vice President, General Counsel and Secretary
Samuel A. Giberga joined Hornbeck Offshore Services in January 2004 and has served as the General Counsel since then. He was appointed Corporate Secretary in January 2021 and Executive Vice President and Chief Compliance Officer in June 2011. Before joining Hornbeck, Mr. Giberga was engaged in private law practice for 14 years, focusing extensively on marine and energy service companies.
AI Analysis | Feedback
The key risks to Hornbeck Offshore Services (HOS) are primarily tied to the volatile nature of the offshore energy market, the complexities of its recent merger, and the inherent operational and regulatory challenges of marine services.
- Cyclical Nature of the Offshore Oil and Gas Industry and Commodity Price Volatility: Hornbeck Offshore Services' financial performance is highly dependent on the activity levels and capital expenditures within the offshore oil and gas exploration and production industry. The company has historically been significantly impacted by fluctuations in crude oil and natural gas prices, which can lead to a soft, oversupplied market, reduced vessel utilization, and lower day rates. For instance, a dramatic drop in crude oil prices contributed to the company filing for Chapter 11 bankruptcy in May 2020.
- Integration Risks from Recent Merger: Hornbeck Offshore Services recently completed a merger with Helix Energy Solutions Group, Inc. on September 1, 2026. This combination introduces various integration risks, including challenges in retaining key personnel, maintaining customer and supplier relationships, and diverting management's attention from day-to-day operations. The success of the combined entity also hinges on its ability to achieve anticipated benefits and synergies from the merger.
- Operational Risks and Regulatory Environment: As a marine transportation and offshore support services provider, Hornbeck Offshore Services is exposed to substantial operational risks. These include potential catastrophic marine disasters, adverse weather and sea conditions, mechanical failures, collisions, oil and hazardous substance spills, navigation errors, and acts of war or terrorism. Additionally, the company must comply with a complex regulatory framework, such as the Jones Act, which governs coastwise trade in U.S. waters. Any non-compliance or changes in these regulations, or even temporary waivers, could adversely affect its operations and competitive landscape.
AI Analysis | Feedback
The clear emerging threat for Hornbeck Offshore Services is the accelerating global energy transition away from fossil fuels and towards renewable energy sources. This trend significantly impacts the demand for offshore oil and gas exploration and production, which is the primary industry HOS serves with its offshore supply vessels, multi-purpose support vessels, and related services.
AI Analysis | Feedback
Addressable Markets for Hornbeck Offshore Services (HOS)
Hornbeck Offshore Services (HOS) operates primarily in marine transportation, subsea installation, and logistics support for the offshore oil and gas industry. The addressable markets for its main products and services include:
Offshore Support Vessels (OSVs)
- Global Market: The global offshore support vessel market was valued at approximately USD 24.3 billion in 2024 and is projected to reach around USD 49.6 billion by 2034, growing at a compound annual growth rate (CAGR) of 7.4% from 2025 to 2034.
- U.S. Market: The U.S. offshore support vessel market was valued at $1,944.8 million in 2024 and is projected to reach $2,842.2 million by 2029, with a CAGR of 7.9%. North America, which includes the U.S., held a significant share, accounting for 43.3% of the global market and a market value of USD 10.5 billion in 2024.
- Mexico Market: The Mexico offshore support vessels market size reached USD 715.7 million in 2025 and is expected to reach USD 943.4 million by 2034, exhibiting a CAGR of 3.02% from 2026 to 2034.
Multi-Purpose Support Vessels (MPSVs)
- Global Market: The global Multi-Purpose Support Vessel (MPSV) market size was valued at $4.48 billion in 2025 and is anticipated to grow to $6.26 billion by 2030, at a CAGR of 6.9%.
Subsea Services (including Subsea Installation)
- Global Market: The global Subsea & Offshore Services market was valued at $62.4 billion in 2025 and is projected to reach $112.8 billion by 2034, expanding at a CAGR of 6.8% from 2026 to 2034.
- North America Market: North America dominated the global Subsea & Offshore Services market in 2025, accounting for revenue of $19.6 billion.
- U.S. Market: The U.S. subsea and offshore services market size was evaluated at USD 3.92 billion in 2024 and is projected to be worth around USD 7.20 billion by 2034, growing at a CAGR of 6.27% from 2025 to 2034.
Oil & Gas Logistics
- Global Market: The global market for Oil and Gas Logistics was valued at approximately US$16.95 billion in 2025 and is expected to reach US$23.20 billion by 2034, registering a CAGR of 3.55% from 2026 to 2034.
- North America Market: North America held the largest share in the Oil & Gas Logistics Market in terms of revenue, around 39% in 2025.
- U.S. Market: The U.S. Oil & Gas Logistics Market was valued at USD 4.3 billion in 2025.
AI Analysis | Feedback
Expected Drivers of Future Revenue Growth for Hornbeck Offshore Services (HOS)
- Strategic Expansion and Diversification through Merger: The recently completed merger with Helix Energy Solutions Group, Inc. (effective September 1, 2026) is a significant driver of future revenue growth. This merger integrates Hornbeck's marine expertise with Helix's robotics, well intervention, and subsea capabilities, creating a global offshore services leader. The combined entity expands Hornbeck's offerings into engineered solutions for the deepwater oilfield, defense, and renewables industries, thereby diversifying its revenue streams and market reach.
- Increased Demand in Deepwater Oil and Gas Activities: Hornbeck Offshore Services is strategically positioned to benefit from the ongoing global trend of increasing offshore oil and natural gas exploration and production, particularly in deeper waters. The company's fleet of new-generation Offshore Supply Vessels (OSVs) and Multi-Purpose Support Vessels (MPSVs) are ideally suited to meet the demand for supporting complex deep-well, deepwater, and ultra-deepwater activities, including exploration, field development, production, construction, and maintenance services. Strong backlogs and higher commodity prices are also expected to contribute positively to performance.
- Growth in Well Intervention and Robotics Services: The company anticipates strong contract coverage for its well intervention services in key regions such as the Gulf of Mexico, North Sea, and Brazil. Furthermore, high utilization is expected for robotics, including North Sea vessels and trenchers, with overall ROV utilization projected to improve over 2025. Significant contract wins, such as multi-year agreements for well intervention services, have already contributed to a substantial backlog, indicating sustained revenue from these specialized segments.
- Fleet Modernization and Expansion: Hornbeck plans to expand and modernize its fleet through newbuilds, retrofitting, and strategic acquisitions as market conditions warrant. The introduction of high-specification vessels, such as the 300 class HOSMAX vessels, is specifically aimed at servicing the growing number of deep and ultra-deepwater drilling rigs expected to be delivered in the coming years, enhancing the company's capacity to meet evolving customer needs.
AI Analysis | Feedback
Capital Allocation Decisions for Hornbeck Offshore Services (HOS)
Share Repurchases
No significant share repurchases have been identified for Hornbeck Offshore Services within the last 3-5 years.Share Issuance
- Hornbeck Offshore Services initiated efforts for an Initial Public Offering (IPO), filing registration statements (S-1/A) between 2023 and 2026.
- As part of its merger with Helix Energy Solutions, which concluded on September 1, 2026, Helix shareholders became owners of 45% of the combined company.
Inbound Investments
- Following a Chapter 11 bankruptcy filing in May 2020 for restructuring, Hornbeck Offshore Services subsequently entered into "In IPO Registration" status during the 2023-2026 period, indicating significant capital restructuring.
- The merger with Helix Energy Solutions, completed on September 1, 2026, represents a substantial investment in Hornbeck's capital structure, with Helix shareholders acquiring a 45% stake in the combined entity.
Outbound Investments
- Hornbeck Offshore Services acquired six additional high-spec Offshore Supply Vessels (OSVs) from an affiliate of Edison Chouest on February 27, 2023.
Capital Expenditures
- Capital expenditures for the company were approximately $7.27 million in fiscal year 2021, $132.08 million in fiscal year 2022, and $139.94 million in the trailing twelve months ending September 30, 2023.
- The company resumed construction on two Jones Act-qualified Multi-Purpose Support Vessels (MPSVs) on October 9, 2023.
- Hornbeck Offshore announced plans on July 12, 2023, to convert one high-spec OSV into a Service Operation Vessel (SOV) / Flotel.
Peer Outperformance in Marine Transportation
HOS has trailed 100% of its 4 Marine Transportation peers over 5Y. Marine Transportation ranks 2nd of 23 industries in Industrials by median 5Y return. That makes it one of the strongest corners of the sector.
Share of Marine Transportation constituents that HOS has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
0%
of 4 industry peers · 8.1% return
3Y
25%
of 4 industry peers · -34.2% return
5Y
0%
of 4 industry peers · 61.1% return
No Marine Transportation peer with a comparable growth profile has beaten HOS by more than 20pp over 5Y.
Median price return by industry across the Industrials sector, ranked by 5Y. Marine Transportation is HOS's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 30 | -0.2% | 113.7% | 164.2% | STRL 1759% · FIX 1743% · AGX 772% |
| Marine Transportation ← | 5 | 59.4% | 45.4% | 119.0% | MATX 199% · KEX 146% |
| Construction Machinery & Heavy Transportation Equipment | 13 | -3.1% | 50.6% | 85.7% | CAT 293% · ALSN 241% · WAB 221% |
| Aerospace & Defense | 52 | -10.6% | 55.0% | 63.9% | ATI 1052% · FTAI 783% · HWM 623% |
| Trading Companies & Distributors | 19 | 10.3% | 39.2% | 48.0% | DXPE 455% · AIT 259% · URI 201% |
| Industrial Machinery & Supplies & Components | 72 | 10.5% | 55.8% | 38.1% | CRS 1111% · MLI 468% · SYM 292% |
| Rail Transportation | 7 | 28.5% | 62.3% | 30.6% | CSX 50% · UNP 42% · NSC 31% |
| Cargo Ground Transportation | 16 | 32.6% | 4.2% | 23.4% | XPO 276% · R 209% · ARCB 55% |
| Diversified Support Services | 34 | 14.0% | 28.3% | 23.1% | CXW 227% · OPLN 145% · CACI 119% |
| Building Products | 32 | -11.7% | 11.9% | 19.2% | GFF 332% · TT 182% · JCI 126% |
| Electrical Components & Equipment | 37 | -8.5% | 72.8% | 13.2% | POWL 2005% · BE 944% · VRT 786% |
| Industrial Conglomerates | 17 | 10.8% | 3.6% | -8.5% | CSW 117% · DD 64% · CSL 62% |
| Agricultural & Farm Machinery | 16 | 3.5% | -4.6% | -14.0% | DE 95% · TTC 10% · AGCO -8% |
| Data Processing & Outsourced Services | 6 | -24.2% | -5.0% | -20.6% | EXLS 60% · BR 6% · G -20% |
| Security & Alarm Services | 9 | -58.0% | 12.6% | -24.5% | BCO 77% |
| Office Services & Supplies | 9 | 19.5% | 19.1% | -27.0% | PBI 197% · TILE 140% · HNI 42% |
| Research & Consulting Services | 13 | -2.5% | -19.0% | -29.8% | HURN 253% · FCN 2% · BAH 1% |
| Passenger Ground Transportation | 3 | -24.2% | 62.8% | -32.2% | UBER 49% · CAR -32% · LYFT -66% |
| Environmental & Facilities Services | 29 | -32.3% | 24.2% | -32.5% | GEO 232% · CLH 184% · RSG 90% |
| Air Freight & Logistics | 12 | -28.8% | -23.9% | -39.9% | FDX 77% · EXPD 76% · CHRW 60% |
| Passenger Airlines | 11 | -2.5% | 7.6% | -40.2% | LTM 3048% · UAL 107% · DAL 92% |
| Human Resource & Employment Services | 22 | 11.4% | -17.1% | -44.6% | ADP 50% · PAYX 6% · FA 1% |
| Airport Services | 4 | -70.6% | -67.9% | -83.0% | JOBY -49% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 11.98 |
| Mkt Cap | 4.3 |
| Rev LTM | 2,086 |
| Op Inc LTM | 343 |
| FCF LTM | 164 |
| FCF 3Y Avg | 128 |
| CFO LTM | 424 |
| CFO 3Y Avg | 451 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -8.2% |
| Rev Chg 3Y Avg | 1.6% |
| Rev Chg Q | 5.5% |
| QoQ Delta Rev Chg LTM | 1.4% |
| Op Inc Chg LTM | -14.3% |
| Op Inc Chg 3Y Avg | 1.1% |
| Op Mgn LTM | 14.1% |
| Op Mgn 3Y Avg | 13.8% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 18.6% |
| CFO/Rev 3Y Avg | 18.5% |
| FCF/Rev LTM | 8.4% |
| FCF/Rev 3Y Avg | 5.0% |
Price Behavior
Price Behavior
| Market Price | $6.83 | |
| First Trading Date | 09/02/2026 | |
| Distance from 52W High | -35.6% | |
| 50 Days | 200 Days | |
| DMA Price | $8.84 | $9.05 |
| DMA Trend | down | up |
| Distance from DMA | -22.8% | -24.5% |
| 3M | 1YR | |
| Volatility | 41.7% | 44.9% |
| Downside Capture | 78.62 | 31.35 |
| Upside Capture | -124.55 | 36.51 |
| Correlation (S&P 500) | -1.0% | 12.7% |
HOS Betas & Captures as of 9/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2798.44 | 1187.15 | 735.06 | 218.07 | 123.54 | 27.83 |
| Up Beta | -31619.28 | -4144.86 | -2052.20 | -812.90 | -332.95 | -54.40 |
| Down Beta | 0.86 | 0.75 | 0.02 | -0.07 | -0.06 | -0.02 |
| Up Capture | 830838% | 374270% | 234675% | 79590% | 34793% | 3195% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 4 | 4 | 4 | 4 | 4 | 4 |
| Down Capture | 236% | 157% | 98% | 56% | 29% | 17% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 16 | 16 | 16 | 16 | 16 | 16 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HOS | |
|---|---|---|---|---|
| HOS | 9.1% | 44.9% | 0.32 | - |
| Sector ETF (XLI) | 11.0% | 17.2% | 0.43 | 14.5% |
| Equity (SPY) | 17.1% | 12.7% | 0.95 | 12.1% |
| Gold (GLD) | -4.2% | 29.3% | -0.15 | 10.0% |
| Commodities (DBC) | 52.6% | 20.7% | 1.93 | 31.5% |
| Real Estate (VNQ) | 3.9% | 13.7% | 0.03 | 4.1% |
| Bitcoin (BTCUSD) | -24.8% | 43.7% | -0.53 | 3.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HOS | |
|---|---|---|---|---|
| HOS | 9.8% | 50.0% | 0.36 | - |
| Sector ETF (XLI) | 12.4% | 17.6% | 0.53 | 38.0% |
| Equity (SPY) | 13.5% | 17.1% | 0.60 | 33.6% |
| Gold (GLD) | 18.3% | 18.9% | 0.78 | 11.8% |
| Commodities (DBC) | 9.8% | 19.5% | 0.38 | 45.4% |
| Real Estate (VNQ) | 1.3% | 18.8% | -0.04 | 26.0% |
| Bitcoin (BTCUSD) | 7.2% | 51.8% | 0.32 | 16.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HOS | |
|---|---|---|---|---|
| HOS | -2.9% | 64.9% | 0.24 | - |
| Sector ETF (XLI) | 13.1% | 20.0% | 0.57 | 46.4% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 40.6% |
| Gold (GLD) | 12.2% | 16.4% | 0.61 | 4.7% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 45.3% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 34.3% |
| Bitcoin (BTCUSD) | 63.0% | 66.2% | 1.03 | 14.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 0.0% | 0.0% | 49,321.1% |
| 4/23/2026 | 0.0% | 0.0% | 0.0% |
| 2/24/2026 | 0.0% | 0.0% | 0.0% |
| 10/23/2025 | 0.0% | 0.0% | 0.0% |
| 7/24/2025 | 0.0% | 0.0% | 0.0% |
| 4/24/2025 | 0.0% | 0.0% | 0.0% |
| 2/25/2025 | 0.0% | 0.0% | 0.0% |
| 10/24/2024 | 0.0% | 0.0% | 0.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 24 | 24 | 24 |
| # Negative | 0 | 0 | 0 |
| Median Positive | 0.0% | 0.0% | 0.0% |
| Median Negative | |||
| Max Positive | 0.0% | 0.0% | 49,321.1% |
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 0.0% | 0.0% | 49,321.1% |
| 4/23/2026 | 0.0% | 0.0% | 0.0% |
| 2/24/2026 | 0.0% | 0.0% | 0.0% |
| 10/23/2025 | 0.0% | 0.0% | 0.0% |
| 7/24/2025 | 0.0% | 0.0% | 0.0% |
| 4/24/2025 | 0.0% | 0.0% | 0.0% |
| 2/25/2025 | 0.0% | 0.0% | 0.0% |
| 10/24/2024 | 0.0% | 0.0% | 0.0% |
| 7/25/2024 | 0.0% | 0.0% | 0.0% |
| 4/25/2024 | 0.0% | 0.0% | 0.0% |
| 2/27/2024 | 0.0% | 0.0% | 0.0% |
| 10/24/2023 | 0.0% | 0.0% | 0.0% |
| 7/27/2023 | 0.0% | 0.0% | 0.0% |
| 4/25/2023 | 0.0% | 0.0% | 0.0% |
| 2/21/2023 | 0.0% | 0.0% | 0.0% |
| 10/25/2022 | 0.0% | 0.0% | 0.0% |
| 7/26/2022 | 0.0% | 0.0% | 0.0% |
| 4/26/2022 | 0.0% | 0.0% | 0.0% |
| 2/22/2022 | 0.0% | 0.0% | 0.0% |
| 10/21/2021 | 0.0% | 0.0% | 0.0% |
| 7/27/2021 | 0.0% | 0.0% | 0.0% |
| 4/27/2021 | 0.0% | 0.0% | 0.0% |
| 2/23/2021 | 0.0% | 0.0% | 0.0% |
| 10/22/2020 | 0.0% | 0.0% | 0.0% |
| SUMMARY STATS | |||
| # Positive | 24 | 24 | 24 |
| # Negative | 0 | 0 | 0 |
| Median Positive | 0.0% | 0.0% | 0.0% |
| Median Negative | |||
| Max Positive | 0.0% | 0.0% | 49,321.1% |
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 01/13/2026 | S-1/A |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 01/13/2026 | S-1/A |
Insider Activity
Updated 9/4/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sparks, Scott Andrew | EVP & COO | Direct | Sell | 11042025 | 6.88 | 40,000 | 275,160 | 2,070,868 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sparks, Scott Andrew | EVP & COO | Direct | Sell | 11042025 | 6.88 | 40,000 | 275,160 | 2,070,868 | Form |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Marine Transportation Resources |
| The Maritime Executive |
| MarineLink |
| gCaptain |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 10/19/2026