Hornbeck Offshore Services, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenues of $58,431,000 compared to $37,426,000 a year ago. The year-over-year increase in revenues primarily resulted from improved market conditions for the Company's MPSVs and, to a lesser extent, increased revenues from its OSVs.  Operating loss was $15,572,000 compared to $31,318,000 a year ago. Loss before income taxes was $31,526,000 compared to $28,751,000 a year ago. Net loss was $25,088,000 or $0.67 per basic and diluted share compared to $19,489,000 or $0.53 per basic and diluted share a year ago. Adjusted EBITDA was $13,646,000 compared to adjusted LBITDA of $1,883,000 a year ago. Net cash used in operating activities was $18,779,000 compared to $20,507,000 a year ago. EBITDA was $11,242,000 compared to $12,159,000 a year ago. The year-over-year increase in revenues primarily resulted from improved market conditions for the company's MPSVs and, to a lesser extent, increased revenues from its OSVs.

For the six months, the company reported revenues of $100,018,000 compared to $81,505,000 a year ago. Operating loss was $49,426,000 compared to $57,799,000 a year ago. Loss before income taxes was $78,672,000 compared to $68,963,000 a year ago. Net loss was $63,743,000 or $1.70 per basic and diluted share compared to $47,387,000 or $1.29 per basic and diluted share a year ago. Cash used in operating activities was $27,653,000 compared to $24,126,000 a year ago. Adjusted EBITDA was $9,953,000 compared to $2,157,000 a year ago. EBITDA was $4,037,000 compared to $13,756,000 a year ago.

For the third quarter of 2018, the company expects depreciation, amortization, total interest expense, are projected to be $24.8 million, $2.6 million, $13.5 million, respectively.

For the year 2018, the company expects depreciation, amortization, total interest expense, are projected to be $98.8 million, $10.0 million, $56.2 million, respectively. The company's annual effective tax benefit rate is expected to be 18.0% for fiscal year 2018. The company expects that its maintenance capital expenditures for its fleet of vessels will be approximately $22.2 million for the full fiscal years 2018.  

For the year 2019, the company expects depreciation, amortization, total interest expense, are projected to be $103.0 million, $16.9 million, $67.9 million, respectively. The company's annual effective tax benefit rate is expected to be 20.0% for fiscal year 2019.  The company expects that its maintenance capital expenditures for its fleet of vessels will be approximately $29.7 million for the full fiscal year 2019.