Eneti Inc Stock Price, News & Analysis

On May 19, 2022, Eneti announced that Scorpio Holdings Limited purchased 260,774 common shares at an average price of $6.53 each. This acquisition raises SHL's ownership stake to 19.65%, totaling 8,003,259 shares out of 40,738,704 outstanding. Eneti is a key player in the offshore wind sector, providing installation and maintenance vessels, and has invested in advanced wind turbine installation technology.

Eneti Inc. (NYSE: NETI) announced that Scorpio Holdings Limited has purchased 250,000 common shares at an average price of $6.56 per share. This transaction raises SHL's ownership to 7,742,485 shares, or 19.01% of the company’s total 40,738,704 shares outstanding. Eneti focuses on the offshore wind and marine-based renewable energy sector, investing in next-generation wind turbine installation vessels.

Eneti Inc. (NYSE: NETI) reported Q1 2022 results with a net income of $4.2 million ($0.11/share), significantly down from $41.9 million ($3.84/share) in Q1 2021. Total revenue was $22.4 million, a decline from $59.8 million in the prior year, mainly from Seajacks’ operations involved in offshore projects. The company declared a quarterly cash dividend of $0.01 per share. EBITDA dropped to $14.2 million from $52.0 million year-over-year. Eneti secured contracts expected to generate up to $36.3 million in revenue from offshore wind projects, with liquidity at approximately $47.7 million in cash.

Eneti announced a new contract for its subsidiary, Seajacks UK Limited, with a UK utility to support offshore wind farm substation commissioning in the North Sea. This contract is anticipated to yield up to $20.5 million in revenue over three years. Additionally, another contract for maintenance services is expected to generate $800,000 to $1.2 million in the second quarter of 2022. Eneti is positioned as a key player in the offshore wind sector, focusing on installation and maintenance vessels.

Eneti plans to release its first quarter 2022 financial results on May 12, 2022, before market opening. The company will host a conference call at 11:30 AM EDT to discuss the results, accessible through U.S. and international dial-ins. A live webcast will also be available on the company’s website. Eneti is a major provider of offshore wind sector vessels and is committed to developing next-gen wind turbine installation vessels, listed on the NYSE under the symbol NETI.

Eneti Inc. (NYSE: NETI) has filed its Annual Report on Form 20-F for the year ending December 31, 2021, with the SEC. The report, which includes 2021 audited financial statements, is accessible on the company's website. Shareholders can request a hard copy of the report for free. Eneti is recognized for providing installation and maintenance vessels to the offshore wind sector and is committed to advancing in this field. The report filing reaffirms the company's continuing focus on growth in the wind energy market.

Eneti Inc. (NYSE:NETI) announced that President Robert Bugbee purchased 40,000 common shares at an average price of $5.88 each. This indicates his confidence in the company's future as it continues to focus on the offshore wind and renewable energy sectors, investing in advanced wind turbine installation vessels. Eneti's operations may face risks related to demand fluctuations, regulatory challenges, and global economic conditions.

Eneti Inc. (NYSE:NETI) announced the signing of a $175 million multicurrency credit facility from major banks, including DNB Capital and Citibank. This facility aims to refinance existing debt, including a $60 million revolving credit facility and $53 million in redeemable notes due in March 2023. The company plans to utilize the proceeds immediately. Additionally, Eneti will participate in investor events in April and May 2022, enhancing its presence in the renewable energy sector focused on offshore wind.

Eneti Inc. (NYSE: NETI) has announced a new contract for wind turbine operations and maintenance with a global OEM through its subsidiary Seajacks UK Limited. This contract involves one NG2500-class vessel and is set for 90 to 180 days, generating anticipated revenue between $3.85 million and $7.45 million in Q2 and Q3 of 2022. Eneti focuses on the offshore wind sector and is positioned to benefit from increasing demand for sustainable energy solutions.