Helix Energy falls after saying strategic review concluded
On Helix Energy's Q3 earnings call, CEO Owen Kratz stated, according to a transcript of the call: "From time to time, we evaluate our strategic alternatives and what makes sense for our company and as we feel that exercise is part of fulfilling our duty for maximizing value to our shareholders. We recently completed that strategic review, and our conclusion was that at this time, our focus should be on our balance sheet, executing operationally and expanding our profit margins." Kratz added that the company's policy is not to comment on rumors or make disclosures about future strategic transactions unless they have something to announce. Shares of Helix Energy fell sharply shortly after the call began and are down over 11% to $6.86 as the call continues.