Hornbeck Offshore Services, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Second Quarter of 2018 and Full Year 2018 and 2019
For the second quarter, the company expects depreciation, amortization, net interest expense, cash income taxes, cash interest expense for the second quarter of 2018 are projected to be $24.7 million, $2.3 million, $16.0 million, $0.1 million, $14.1 million, respectively.
For the year, the company Guidance for depreciation, amortization, net interest expense, cash income taxes and cash interest expense for the full fiscal years 2018 and 2019. The Company's annual effective tax benefit rate is expected to be between 18.0% and 20.0% for fiscal years 2018 and 2019. The Company expects miscellaneous incremental commercial-related capital expenditures and non-vessel capital expenditures to be approximately $5.7 million and $0.5 million, respectively, for the full fiscal years 2018 and 2019, respectively.