Seacor Marine Ho Stock Price, News & Analysis

SEACOR Marine Holdings Inc. (NYSE: SMHI) has announced a significant securities repurchase from Carlyle-affiliated funds, acquiring 1,355,761 common shares at $4.90 per share and warrants for 1,280,195 shares at $4.89 per warrant. The total transaction, valued at approximately $12.9 million, represents about 9.1% of SMHI's outstanding common stock.

The company funded this repurchase using proceeds from the sale of a 201-foot, DP-2 platform supply vessel built in 2014. This strategic move eliminates all outstanding warrants and simplifies SEACOR Marine's capital structure. The transaction marks Carlyle's complete exit from their equity position, following their loan repayment in late 2024, ending a partnership that began in 2015.

SEACOR Marine Holdings (NYSE: SMHI) reported Q4 2024 results with operating revenues of $69.8 million, representing a 4.5% decrease from Q4 2023 but a 1.3% increase from Q3 2024. The company posted an operating income of $10.6 million and a net loss of $26.2 million ($0.94 loss per share).

Key metrics include average day rates of $18,901 (up 4.8% YoY), 72% utilization (up from 71% YoY), and DVP margin of 33.1%. Notable developments include refinancing of $328.7 million of debt into a single facility due 2029, sale of two AHTS vessels for $22.5 million, and orders for two new PSVs scheduled for delivery in Q4 2026 and Q1 2027.

The company reported improved operating performance due to fewer out-of-service days, though faced soft market conditions in the North Sea and customer delays in Mexico and the U.S.

SEACOR Marine Holdings (NYSE: SMHI) has secured a new $391.0 million senior secured term loan with EnTrust Global, maturing in Q4 2029. The company will use the funds to refinance $203.7 million of secured debt and $125.0 million of unsecured debt due in 2026. Additionally, SMHI ordered two platform supply vessels at $41.0 million each, with deliveries scheduled for Q4 2026 and Q1 2027. The vessels feature advanced fuel efficiency systems and will be partially financed through the new facility. The company also announced the sale of two anchor handling vessels for $22.5 million, marking its exit from the AHTS asset class by January 2025.

SEACOR Marine Holdings (NYSE: SMHI) reported Q3 2024 results with operating revenues of $68.9 million, representing a 10.4% decrease from Q3 2023. The company posted an operating loss of $6.5 million and a net loss of $16.3 million ($0.59 loss per share). Key metrics include average day rates of $18,879 (4.6% YoY increase), 67% utilization (down from 73% in Q3 2023), and Direct Vessel Profit (DVP) of $16.0 million with a 23.2% margin. The quarter was impacted by a heavy maintenance schedule, softer demand in key markets, and increased operating expenses, with crewing costs up 9.9% and maintenance costs rising 30.0% YoY.

SEACOR Marine Holdings Inc. (NYSE:SMHI), a leading provider of marine and support transportation services to offshore energy facilities worldwide, has expanded its Board of Directors from five to six members with the appointment of Lisa P. Young as an independent member. Ms. Young brings 36 years of cross-sector, international experience in public accounting and professional services, having retired as a senior partner from Ernst & Young in 2021.

Ms. Young currently serves on the boards of Valo Health, Inc. and Accelus Inc., and previously served on the board of Textainer Group Holdings She is a Certified Public Accountant with a BBA in Finance and Accounting from Texas Tech University. Andrew Morse, SEACOR Marine's Chairman of the Board, welcomed Ms. Young, highlighting her wealth of knowledge, experience, and proven leadership track record.

SEACOR Marine Holdings Inc. (NYSE: SMHI) reported its Q2 2024 results, showing mixed performance. The company's consolidated operating revenues increased to $69.9 million, up 2.3% year-over-year and 11.3% quarter-over-quarter. However, SMHI reported an operating loss of $3.9 million and a net loss of $12.5 million ($0.45 loss per share). Average day rates improved significantly to $19,141, a 25.5% increase from Q2 2023. Utilization decreased to 69% from 78% in Q2 2023 but improved from 62% in Q1 2024. The company's Direct Vessel Profit (DVP) margin decreased to 29.1% due to higher drydocking and repair expenses. SEACOR Marine reported a $403.9 million contracted revenue backlog and plans to install hybrid battery systems on four platform supply vessels over the next 12 months.

SEACOR Marine Holdings Inc. (NYSE: SMHI) reported its first quarter 2024 results, with operating revenues of $62.8 million and a net loss of $23.1 million. The company highlighted a 2.6% increase in revenues from the first quarter of 2023, despite a 14.1% decrease from the previous quarter. While average day rates increased by 33.0% year-over-year, the DVP margin decreased to 23.4% due to higher operating expenses. The CEO mentioned ongoing improvements in dayrates and anticipated enhanced utilization in the future.