Hornbeck Offshore Services, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenues of $41,587,000 against $44,079,000 a year ago. Operating loss was $33,854,000 against $26,481,000 a year ago. Loss before income taxes was $47,146,000 against $40,212,000 a year ago. Net loss was $38,655,000 against $27,898,000 a year ago. Basic and Diluted loss per common share was $1.04 against $0.76 a year ago. Cash used in operating activities was $8,874,000 against $3,619,000 a year ago. LBITDA was $7,205,000 against EBITDA of $1,597,000 a year ago. Adjusted LBITDA was $3,693,000 against adjusted EBITDA of $4,040,000 a year ago.

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.