Profile
Sector:
IndustrialsIndustry:
Marine ShippingCountry:
United StatesIPO:
02 June 2017Website:
http://www.seacormarine.comNext earnings report:
02 August 2024Last dividends:
N/ANext dividends:
N/APrice
regular market | Wed, 03 Jul 2024 13:30:00 GMTDividend
Analysts recommendations
Institutional Ownership
SMHI Latest News
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 wind farms; handle anchors and mooring equipment required to tether rigs to the seabed; assist in placing them on location and moving them between regions; provide construction, well work-over, maintenance, 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, 2021, the company operated a fleet of 81 support and specialty vessels, of which 60 were owned or leased-in, 20 were joint-ventured, and 1 was managed on behalf of unaffiliated third parties. It serves integrated oil companies, large independent oil and natural gas exploration and production companies, and emerging independent companies, as well as windfarm operations and installation contractors. The company 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://www.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 does SEACOR Marine Holdings report earnings?
The next expected earnings date for SEACOR Marine Holdings is 02 August 2024