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hornbeck offshore services

Photo: Hornbeck Offshore Services

Hornbeck Offshore Discloses Revenue Growth Ahead of IPO

Reuters
Total Views: 3025
December 8, 2023

Dec 7 (Reuters) – Marine transportation services provider Hornbeck Offshore on Thursday made public its paperwork for a stock market listing in New York, which showed its revenue rose in the three months ended September.

The listing will test the appetite for another stock flotation at a time when green shoots in the U.S. IPO market have been overshadowed by the poor post-debut performances of some high-profile firms that listed recently.

Hornbeck intends to list its shares on the New York Stock Exchange under the ticker symbol “HOS.”

The company reported a revenue of $160.2 million for the July-to-September period, up from $124.5 million a year ago.

The filing with the U.S. securities regulator marks Hornbeck’s attempt to get back to public markets after emerging from its Chapter 11 bankruptcy back in September 2020.

JPMorgan and Barclays are the lead underwriters for the IPO.

Hornbeck is a provider of marine transportation services to companies in the offshore oilfield market and diversified non-oilfield markets, including military support services, renewable energy development and other non-oilfield service offerings.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shailesh Kuber)

(c) Copyright Thomson Reuters 2023.

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