Seacor Marine Holdings Inc. reported better-than-expected Q4 2024 results with increased fleet utilization and lower operating expenses resulting in sequential margin improvement and solid cash generation. Following a comprehensive debt refinancing in November, the company ended the year with $59.5 million in unrestricted cash, $16.6 million in restricted cash and $350 million in debt. Seacor Marine Holdings sold its two remaining AHTS vessels and will use the proceeds for the construction of two large PSVs in China.
HOUSTON, Feb. 26, 2025 (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 fourth quarter ended December 31, 2024.
HOUSTON, Dec. 02, 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 entered into a new senior secured term loan of up to $391.0 million with an affiliate of EnTrust Global (the “2024 SMFH Credit Facility”) and separate agreements to build two platform supply vessels (“PSVs”) for a contract price of $41.0 million per vessel (the “Shipbuilding Contracts”). The PSVs are each 4,650 tons deadweight with a 1,000 square meter deck area and equipped with medium speed diesel engines and an integrated battery energy storage system for higher fuel efficiency and lower running costs. The 2024 SMFH Credit Facility consolidates the Company's debt capital structure into a single credit facility maturing in the fourth quarter of 2029 and provides financing for the Shipbuilding Contracts. The Company also announced the entry into definitive agreements to sell two anchor handling towing and supply (“AHTS”) vessels for total proceeds of $22.5 million.
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.