Seacor Marine Ho Stock Price, News & Analysis

SEACOR Marine Holdings reported first-quarter 2022 results with operating revenues of $45.6 million, up 25% from $36.5 million in Q1 2021. The operating loss was $17.1 million compared to $16.6 million in the previous year, while Direct Vessel Profit (DVP) decreased to $6.1 million from $10.2 million. Notably, average utilization rates reached 70%, the highest since 2014. The net loss was $14.8 million, a slight improvement from $16.9 million year-over-year. CEO John Gellert highlighted strong demand and anticipated positive cash flows as the year progresses.

On March 10, 2022, SEACOR Marine Holdings (NYSE:SMHI) reported its fourth quarter results for 2021. The company achieved consolidated operating revenues of $48.0 million, an operating loss of $14.7 million, and a direct vessel profit (DVP) of $12.9 million. This represents improvements from the previous year, with DVP increasing by 27% sequentially and 24% year-over-year. A significant reduction in laid-up vessels and a reported 73% utilization rate were notable. However, the net loss attributable to the company was $15.8 million, better than the $38.8 million loss reported a year earlier.

SEACOR Marine Holdings (NYSE:SMHI) reported its fourth-quarter results on March 10, 2022. The company revealed consolidated operating revenues of $48.0 million, with an operating loss of $14.7 million and direct vessel profit (DVP) of $12.9 million. This shows improvement from $36.0 million in revenues and $16.9 million in losses a year earlier. Utilization rates reached 73%, the highest since Q3 2014, with only five laid-up vessels remaining. The net loss attributable to SEACOR Marine was $15.8 million ($0.62 loss per share), down from $38.8 million in Q4 2020.

SEACOR Marine Holdings Inc. (NYSE:SMHI) reported Q3 2021 consolidated operating revenues of $43.7 million, up from $36.2 million in Q3 2020, but incurred an operating loss of $14.3 million. Direct vessel profit stood at $10.2 million, a decrease from $11.5 million in the previous year. The laid-up fleet reduced to 7 vessels from 20. The company faced challenges from Hurricane Ida, labor costs, and crew shortages while benefiting from cash distributions of $14 million from its joint ventures. Net loss for the quarter was $5.8 million.

SEACOR Marine Holdings (NYSE: SMHI) reported Q2 2021 consolidated operating revenues of $42.8 million, up from $33.9 million in Q2 2020. The operating income improved to $8.4 million from a loss of $17.8 million year-over-year. The company realized a $22.7 million gain from asset dispositions and extinguished $117.3 million in debt for a 25% reduction in long-term debt. Despite operational improvements, higher expenses related to vessel reactivation and COVID-19 impacts were noted. Net income for Q2 2021 reached $48.8 million, compared to a net loss of $6.7 million in the previous year.

SEACOR Marine Holdings Inc. (NYSE:SMHI) announced a significant debt reduction through a Conditional Payoff Agreement for Falcon Global USA LLC's credit facility, reducing total debt by $112.5 million to $354.2 million, a 24.1% decrease. The agreement requires a total payment of $50 million, with the second payment covered by expected insurance proceeds. CEO John Gellert emphasized this move enhances financial flexibility and supports the capital structure of their liftboat fleet. SEACOR Marine is also managing the aftermath of the SEACOR Power incident, with recovery efforts expected to conclude in July.

SEACOR Marine Holdings (NYSE:SMHI) reported its first quarter 2021 results, showing consolidated operating revenues of $36.5 million, a reduced operating loss of $16.6 million, and a direct vessel profit of $10.2 million. Compared to Q1 2020, operating loss improved by 30.3% due to lower lease expenses and impairments. The company achieved a net income of $6.0 million primarily from a $22.8 million gain on the Windcat sale. Improved liquidity was noted with $74.5 million generated in cash in 2021, alongside debt reduction of approximately $28.1 million.

HOUSTON, April 28, 2021 - SEACOR Marine Holdings (NYSE:SMHI) announced that directors Charles Fabrikant and Robert D. Abendschein will not seek re-election at the Annual Meeting on June 8, 2021. CEO John Gellert expressed gratitude towards both directors for their significant contributions. Fabrikant, who founded SEACOR Marine in 1989, continued to support the company post-spin-off from SEACOR Holdings in 2017. Abendschein has served on the Board since 2018, bringing valuable industry insights.