The clock keeps ticking for Hornbeck Offshore.
The troubled New York-listed company posted a $41.1m third quarter loss after the close Wednesday, a substantial earnings miss. Hornbeck told investors Thursday it only has enough cash to last until 31 March, barring a settlement with creditors or a significant improvement in the sector.
"Part of this reality is that there are vessel operators that value market share more than we value improved long-term sustainable rates," chief executive Todd Hornbeck said on the company's earnings call.
