Profile
Sector:
IndustrialsIndustry:
Marine ShippingCountry:
United StatesIPO:
02 June 2017Website:
http://seacormarine.comNext earnings report:
28 February 2025Last dividends:
N/ANext dividends:
N/APrice
regular market | 0 min agoDividend
Analysts recommendations
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SMHI Latest News
SEACOR Marine Holdings released another disappointing quarterly report, with both revenue and profitability falling well short of expectations. Management attributed the underwhelming performance to the company's heavy 2024 maintenance schedule and softer than expected demand in the U.S. Gulf of Mexico and the North Sea. With weakness in deepwater rig contracting activity now expected to extend well into 2025, the company will likely face additional headwinds going into next year.
HOUSTON, Oct. 30, 2024 (GLOBE NEWSWIRE) -- SEACOR Marine Holdings Inc. (NYSE: SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore energy facilities worldwide, today announced results for its third quarter ended September 30, 2024.
HOUSTON, Sept. 19, 2024 (GLOBE NEWSWIRE) -- SEACOR Marine Holdings Inc. (NYSE:SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore energy facilities worldwide, today announced that it has expanded its Board of Directors (the “Board”) from five (5) to six (6) members and that Lisa P. Young has been appointed as an independent member of the Board.
SEACOR Marine Holdings reported another set of disappointing quarterly results with sizeable cash usage and profitability falling well short of expectations. The company is facing persistent weakness in the domestic market. In addition, capacity challenges at shipyards and vendors have resulted in drydockings taking longer than expected. Moreover, the pace of year-over-year dayrate improvement has slowed down in Q2.
Seacor Marine (SMHI) came out with a quarterly loss of $0.45 per share versus the Zacks Consensus Estimate of a loss of $0.16. This compares to loss of $0.17 per share a year ago.
HOUSTON, July 31, 2024 (GLOBE NEWSWIRE) -- SEACOR Marine Holdings Inc. (NYSE: SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore energy facilities worldwide, today announced results for its second quarter ended June 30, 2024.
Seacor Marine reported a quarterly loss of $0.84 per share, which was higher than the expected loss of $0.43 per share according to the Zacks Consensus Estimate. This is an increase from the loss of $0.36 per share in the same quarter last year.
The OSV market is expected to face a deficit due to low order book levels and declining shipyard capacity, but growing demand from deep-water protects. SEACOR Marine is one of the major players in the industry. The company owns a fleet of 59 vessels at an average age of 9.1, operating globally. In September, the company signed a new $122 million secured credit facility. It consolidated five separate facilities, with maturities in 2023-2026. The consolidated maturity is moved to 2028.
Shares of leading offshore transportation services provider SEACOR Marine Holdings reached a new 52-week high last week. Three weeks ago, the company managed to refinance an aggregate $104.6 million in near-term debt maturities with a new $122 million secured credit facility provided by affiliates of EnTrust Global. Unfortunately, terms of the new credit facility are less-than-stellar with SEACOR being required to pay interest at a rate of 11.75% p.a., substantially above the average of the refinanced facilities.
The leading offshore support services provider reported decent first quarter results with revenues, average day rates, direct vessel profit, and EBITDA reaching new multi-year highs. With average day rates fleet utilization anticipated to improve further, the company should start to generate meaningful free cash flow over the coming quarters. A debt refinancing at improved terms could provide a near-term catalyst for the stock.
What type of business is SEACOR Marine Holdings?
SEACOR Marine Holdings Inc. provides marine and support transportation services to offshore oil, natural gas, and windfarm facilities worldwide. Its offshore support and specialty vessels deliver cargo and personnel to offshore installations, including offshore wind farms; handle anchors and mooring equipment for offshore rigs and platforms; assist offshore operations for production and storage facilities; provide construction, well work-over, and offshore wind farm installation and decommissioning support; and carry and launch equipment used underwater in drilling and well installation, maintenance, inspection, and repair, as well as offer accommodations for technicians and specialists, safety support, and emergency response services. As of December 31, 2023, the company operated a fleet of 58 support vessels, of which 55 were owned or leased-in, and three were managed on behalf of unaffiliated third parties. It serves integrated national and international oil companies, independent oil and natural gas exploration and production companies, and oil field service and construction companies, as well as offshore wind farm operators and offshore wind farm installation and maintenance companies. SEACOR Marine Holdings Inc. was founded in 1989 and is headquartered in Houston, Texas.
What sector is SEACOR Marine Holdings in?
SEACOR Marine Holdings is in the Industrials sector
What industry is SEACOR Marine Holdings in?
SEACOR Marine Holdings is in the Marine Shipping industry
What country is SEACOR Marine Holdings from?
SEACOR Marine Holdings is headquartered in United States
When did SEACOR Marine Holdings go public?
SEACOR Marine Holdings initial public offering (IPO) was on 02 June 2017
What is SEACOR Marine Holdings website?
https://seacormarine.com
Is SEACOR Marine Holdings in the S&P 500?
No, SEACOR Marine Holdings is not included in the S&P 500 index
Is SEACOR Marine Holdings in the NASDAQ 100?
No, SEACOR Marine Holdings is not included in the NASDAQ 100 index
Is SEACOR Marine Holdings in the Dow Jones?
No, SEACOR Marine Holdings is not included in the Dow Jones index
When was SEACOR Marine Holdings the previous earnings report?
No data
When does SEACOR Marine Holdings earnings report?
The next expected earnings date for SEACOR Marine Holdings is 28 February 2025