Seacor Marine (SMHI) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. ...

HOUSTON, April 04, 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 that it purchased from certain funds affiliated with Carlyle: 1,355,761 of the Company’s common shares, at $4.90 per share, andWarrants to purchase 1,280,195 shares of Common Stock at $4.89 per warrant, after deduction of an exercise price of $0.01 per warrant. Collect ...

I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for Pric ...

Core Insights - SEACOR Marine Holdings Inc. reported a consolidated operating revenue of $69.8 million for Q4 2024, a decrease of 4.5% from $73.1 million in Q4 2023, but a slight increase from $68.9 million in Q3 2024 [2][5] - The company experienced a net loss of $26.2 million in Q4 2024, compared to a net income of $5.7 million in Q4 2023 and a net loss of $16.3 million in Q3 2024 [3][10] - The average day rates increased to $18,901, a 4.8% rise from Q4 2023, while fleet utilization improved to 72%, up from 71% in Q4 2023 and 67% in Q3 2024 [5][12] Financial Performance - Operating income for Q4 2024 was $10.6 million, down from $22.6 million in Q4 2023, but an improvement from an operating loss of $6.5 million in Q3 2024 [2][10] - Direct vessel profit (DVP) was reported at $23.1 million for Q4 2024, compared to $29.8 million in Q4 2023 and $16.0 million in Q3 2024 [2][5] - The DVP margin decreased to 33.1% in Q4 2024 from 40.8% in Q4 2023, but increased from 23.2% in Q3 2024 [5][10] Operational Highlights - The CEO noted improved operating performance due to fewer out-of-service days for repairs and drydockings, leading to better utilization across most segments [3][4] - The company plans to commence permanent repairs on one of its U.S. flag premium liftboats by the end of Q3 2025, which is expected to enhance utilization as seasonal activity increases in the Gulf of America [3][4] - SEACOR Marine has entered into a new senior secured term loan of up to $391 million, simplifying its debt structure and addressing $125 million of near-term maturities [5][6] Market Outlook - The company anticipates a healthy level of inquiries in most international markets, except for the North Sea and Mexico, where demand is subdued due to regulatory and financial challenges [4][5] - Significant challenges are expected for offshore wind activities in the U.S. in the near term, but a backlog of maintenance and decommissioning activities in the Gulf of America is projected to increase activity levels [4][5] - The company is optimistic about its fleet mix being well-positioned to meet current demand expectations despite a mid-cycle lull in offshore drilling activity worldwide [4][5]

Fleet Operations - As of December 31, 2024, the company operates a total fleet of 54 vessels, down from 58 in 2023 and 60 in 2022, indicating a strategic right-sizing of the fleet[30] - The company has 21 owned Platform Supply Vessels (PSVs), all equipped with DP-2 dynamic positioning systems, enhancing operational efficiency[20] - The Fast Support Vessels (FSVs) fleet includes 22 vessels, with 20 equipped with DP-2 and 2 with DP-3 systems, showcasing advancements in technology and fuel efficiency[22] - The company is currently constructing two foreign flag DP-2 PSVs, expected to be delivered in Q4 2026 and Q1 2027, indicating ongoing fleet expansion[21] - The company’s liftboat fleet, which is crucial for offshore operations, has seen a reduction in the number of vessels from 7 in 2022 to 5 in 2024, reflecting market adjustments[30] Revenue and Customer Base - In 2024, the company's principal customers accounted for approximately 76% of consolidated revenues, with two customers, Azule Energy Angola S.p.A. and SEACOR Marine Arabia LLC, each contributing over 10%[37] - For the years ended December 31, 2024, 2023, and 2022, 87%, 79%, and 72% of the Company's operating revenues were derived from foreign operations[42] - The company has seen an increase in capital expenditures from oil and natural gas customers in response to higher post-pandemic energy demand, indicating a potential growth opportunity[36] Environmental and Regulatory Compliance - The Company is subject to extensive environmental and safety laws, with potential penalties for violations that could be material[46] - Under the Oil Pollution Act of 1990, liability for non-tank vessels is limited to the greater of $1,300 per gross ton or $1,076,000[60] - The Company maintains pollution liability insurance with a cap of $1.0 billion to cover spill removal costs and damages[62] - The Company’s U.S.-flag vessels are subject to the Merchant Marine Act of 1920, which restricts ownership and operation in U.S. coastwise trade[49] - The Maritime Labour Convention, 2006 establishes minimum requirements for working conditions of seafarers, which the Company must comply with[52] - The Company’s vessels are subject to inspection and certification by international classification societies to ensure compliance with safety and pollution standards[53] - The Company is subject to the Clean Water Act, which imposes civil and criminal penalties for unauthorized discharges, potentially exposing it to additional liabilities[64] - The Company has filed a Notice of Intent to be covered by the 2013 Vessel General Permit for each of its ships operating in U.S. waters, which requires adherence to best management practices[65] - The Vessel Incidental Discharge Act extends the provisions of the 2013 Vessel General Permit, requiring compliance until new regulations are finalized[66] - The International Maritime Organization aims to reduce carbon intensity of international shipping by 40% by 2030 compared to 2008 levels[82] - The Company is required to comply with the Endangered Species Act, which may impose operational restrictions during certain periods[74] - The Company has implemented ballast water management plans to comply with U.S. regulations aimed at preventing the introduction of invasive species[72] - The Company is impacted by changes to MARPOL regulations, which limit the number of dangerous chemicals its vessels can carry[83] Insurance and Risk Management - The Company maintains various insurance policies, including hull, liability, and war risk insurance, to mitigate risks associated with vessel operations[90] - The Company believes its Protection and Indemnity insurance should cover liabilities under international conventions, subject to policy limitations[69] Workforce and Employee Relations - As of December 31, 2024, the Company employed 1,239 individuals, with no union members, and considers employee relations to be good[93] - In fiscal year 2024, the Company worked over 5.9 million man-hours, recording zero pollution incidents and a total recordable incident rate of 0.034[94] - As of December 31, 2024, 34% of the Company's onshore workforce was female, with efforts to increase female representation in the maritime industry[96] - The Company is committed to providing a variety of learning opportunities for employees, including leadership training and health, safety, and security training[97] - The Company offers competitive salaries and comprehensive benefits, including medical, dental, and retirement savings plans[98] Financial Exposure - The Company is exposed to foreign currency exchange risks but attempts to contract services in U.S. dollars to minimize financial impact[356] - The Company does not hedge against foreign currency rate fluctuations in normal business operations, exposing it to potential exchange rate losses[357] - The Company's outstanding debt consists of fixed interest rate instruments, eliminating exposure to interest rate fluctuations[358] Strategic Focus - The company’s fleet reconfiguration aims to focus on high-margin vessels and simplify capital structure, allowing for quicker responses to market changes[29] - The market for offshore marine services is highly fragmented and competitive, with key factors including pricing, availability, and equipment specifications[40] - The Company does not expect near-term capital outlays for regulatory compliance to materially affect its competitive position or financial results[46]

Exhibit 99.1 PRESS RELEASE SEACOR MARINE ANNOUNCES FOURTH QUARTER 2024 RESULTS Houston, Texas February 26, 2025 I am particularly excited about this PSV order as we expand and complement our fleet of modern and fuel efficient PSVs. This is a continuation of our asset rotation strategy aimed at renewing our fleet with high-specification, environmentally efficient assets. The vessels are scheduled to deliver in the fourth quarter of 2026 and first quarter of 2027, respectively. We will partly fund this new co ...

Core Viewpoint - SEACOR Marine Holdings Inc. has secured a new senior secured term loan of up to $391.0 million and entered into agreements to build two platform supply vessels (PSVs) for $41.0 million each, consolidating its debt and enhancing its fleet [1][4] Financing Details - The proceeds from the 2024 SMFH Credit Facility will refinance $203.7 million of principal indebtedness and $125.0 million of unsecured debt due in 2026, including $35.0 million of convertible debt [2] - The facility allows for up to $41.0 million in borrowings to finance 50% of the Shipbuilding Contracts, with an interest rate of 10.30% per annum and an initial repayment of $5.0 million starting March 2025 [2] Strategic Importance - The new financing consolidates all debt under a single facility maturing in 2029, addressing near-term maturities and eliminating approximately 10% of dilution overhang on the company's common stock [4] - The construction of the two PSVs is part of an asset rotation strategy aimed at renewing the fleet with high-specification, environmentally efficient assets [4] Vessel Specifications - Each PSV will have a deadweight of 4,650 tons, a deck area of 1,000 square meters, and will be equipped with medium-speed diesel engines and an integrated battery energy storage system [1] Asset Sales - The company will use $22.5 million from the sale of two anchor handling towing and supply (AHTS) vessels to partly fund the new construction program, marking its exit from the AHTS asset class effective January 2025 [4]

I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for Pric ...

Fleet Operations - As of September 30, 2024, the Company operated a fleet of 55 support vessels, with 54 owned or leased-in and one managed on behalf of a third party[88]. - The Company operates in four principal geographic regions: the U.S. (primarily Gulf of Mexico), Africa and Europe, the Middle East and Asia, and Latin America (primarily Mexico and Guyana)[90]. - The fleet count as of September 30, 2024, included 53 vessels, with 2 AHTS, 22 FSV, 21 PSV, and 8 Liftboats[117]. Market Conditions - During the nine months ended September 30, 2024, WTI oil prices fluctuated between a high of $87 per barrel and a low of $66 per barrel, ending the period at $68 per barrel[93]. - The Company closely monitors the offshore support vessel market, as demand and day rates are influenced by supply and demand dynamics, including oil and natural gas prices[95]. - The Company expects that alternative forms of energy, such as offshore wind farms, will continue to grow, supporting some of its operations[96]. Financial Performance - Operating revenues for time charter reached $63,313,000, a decrease of 7.5% from $68,668,000 in the prior year[103]. - Net loss for the quarter was $16,346,000, compared to a loss of $883,000 in the same period last year, marking a significant deterioration[103]. - The company reported a loss before income tax of $17,871,000, a significant increase from a loss of $796,000 in the prior year[103]. Cost Management - The Company adheres to a strategy of cold-stacking vessels to manage costs, considering factors such as regulatory inspections and market conditions[97]. - Personnel costs rose to $21,940,000, representing 32% of total operating expenses, up from 26% in the previous year[103]. - Total operating expenses increased to $77,218,000, a rise of 15.9% from $66,555,000 year-over-year[103]. Revenue and Utilization - Average daily rates increased to $18,879 for the three months ended September 30, 2024, compared to $18,046 in the same period last year, reflecting a growth of 4.6%[103]. - Fleet utilization decreased to 67% from 73% year-over-year, indicating a decline in operational efficiency[103]. - Average rates per day for time charter were $19,021, with fleet utilization at 66%[106]. Cash Flow and Liquidity - Cash flows used in operating activities for the nine months ended September 30, 2024, were $(18.8) million, a decrease of $29.2 million compared to the prior year[158]. - The Company held cash, cash equivalents, and restricted cash totaling $37.9 million, down from $58.6 million as of September 30, 2023[154]. - The Company believes that cash balances, cash generated from operations, and access to credit markets will provide sufficient liquidity for capital expenditures and debt service[163]. Debt and Financing - The Company had outstanding debt of $300.9 million as of September 30, 2024, with long-term debt maturities totaling $331.2 million[154]. - The Company made scheduled payments on long-term debt and other obligations totaling $21.8 million during the current year[161]. - The Company has approximately $24.9 million of remaining sales capacity under its ATM Program as of September 30, 2024, to support liquidity needs[153]. Regional Performance - Time charter revenues in Africa and Europe increased to $28.8 million in the Current Year Quarter, up from $22.5 million in the Prior Year Quarter[124]. - Charter revenues in the Current Year Quarter for the Middle East and Asia were $6.3 million higher, driven by repositioning of vessels and increased day rates[125]. - Direct vessel profit in the Middle East and Asia was $3.8 million in the Current Year Quarter, a decrease from $5.1 million in the Prior Year Quarter[130]. Future Outlook - The Company is focused on expanding its market presence and enhancing operational efficiency through strategic initiatives[115]. - Future outlook includes continued focus on market expansion and potential new product development to enhance service offerings[116].

Financial Performance - SEACOR Marine's consolidated operating revenues for Q3 2024 were $68.9 million, a 10.4% decrease from $76.9 million in Q3 2023 and a 1.4% decrease from $69.9 million in Q2 2024[2][3] - The company reported a net loss of $16.3 million in Q3 2024, compared to a net loss of $0.9 million in Q3 2023 and a net loss of $12.5 million in Q2 2024[4] - Direct vessel profit (DVP) was $16.0 million in Q3 2024, a significant decrease from $36.8 million in Q3 2023 and $20.3 million in Q2 2024[2] - DVP margin fell to 23.2% in Q3 2024, down from 47.8% in Q3 2023 and 29.1% in Q2 2024, impacted by $8.3 million in drydocking and major repairs[3] - The company reported a loss before income tax of $(17,871), compared to a loss of $(14,131) in the previous quarter[13] - SEACOR Marine reported a net loss of $16,346 thousand for the quarter ended September 30, 2024, compared to a net loss of $12,483 thousand in the previous quarter[25] Revenue and Costs - Average day rates increased by 4.6% to $18,879 compared to Q3 2023, but decreased by 1.4% from Q2 2024[3] - The company experienced a 9.9% increase in crewing costs and a 30.0% increase in maintenance costs compared to the year-to-date third quarter of 2023[5] - Average rates per day decreased to $18,879 from $19,141 in the previous quarter, representing a decline of 1.36%[13] - Operating revenues from time charter were $63,313, a decrease of 3.6% compared to $65,649 in the previous quarter[13] - Fuel, lubes, and supplies costs rose significantly to $6,574, compared to $3,966 in the previous quarter, marking a 65.8% increase[13] - Other marine services revenue increased to $5,231, up from $3,854 in the previous quarter, a growth of 35.6%[13] Utilization and Fleet Performance - Utilization rate dropped to 67% in Q3 2024, down from 73% in Q3 2023 and 69% in Q2 2024[3] - Fleet utilization was reported at 67%, down from 69% in the prior quarter[13] - Fleet utilization in the United States improved to 42% from 37% in the previous quarter, indicating a positive trend[15] - Fleet utilization in Africa and Europe improved to 77% from 74% in the previous quarter, indicating stronger performance[15] - Fleet utilization in the Middle East and Asia decreased to 71% from 82% in the previous quarter[17] - Fleet utilization in Latin America decreased to 63% from 71% in the previous quarter[17] Assets and Liabilities - Total current assets decreased to $131,164,000 from $164,686,000 year-over-year, a decline of 20.3%[23] - Cash and cash equivalents decreased to $35,601,000 from $67,455,000 year-over-year, a decline of 47.3%[23] - Total liabilities decreased to $384,436,000 from $414,428,000 year-over-year, a decline of 7.2%[23] - Long-term debt decreased to $272,325,000 from $291,843,000 year-over-year, a decline of 6.7%[23] - Total assets decreased to $709,444,000 from $780,065,000 year-over-year, a decline of 9.1%[23] Operational Efficiency - The company continues to face challenges related to shipyard and vendor capacity issues, affecting overall utilization and operating expenses[5] - Average rates per day worked in the United States decreased to $17,188 from $22,356 in the previous quarter, a decline of 23.5%[15] - Direct vessel profit in the United States showed a loss of $4,774, worsening from a loss of $4,591 in the previous quarter[15] - Average rates per day worked in Africa and Europe increased to $18,875 from $18,580, reflecting a growth of 1.6%[15] - Average rates per day worked in the Middle East and Asia increased to $17,825 from $17,083 in the previous quarter, representing a 4.3% increase[17] Cash Flow and Financing - The company generated net cash provided by operating activities of $626 thousand, a significant improvement from a cash used of $12,247 thousand in the prior quarter[25] - Payments on long-term debt amounted to $7,770 thousand, an increase from $6,533 thousand in the previous quarter[25] - SEACOR Marine's accounts receivable increased by $7,411 thousand during the quarter, indicating potential cash flow challenges[25] Miscellaneous - SEACOR Marine has a contracted revenue backlog, including options, exceeding $360.0 million[5] - A premium liftboat in the U.S. Gulf of Mexico is set to return to work in early November after maintenance, with increased inquiries for decommissioning work expected in 2025-2026[6] - The fleet count as of September 30, 2024, included 53 owned vessels, 1 leased-in vessel, and 1 managed vessel, totaling 55 vessels[27] - The company recorded a gain from equipment sales of $1,821 thousand, compared to a loss of $18,057 thousand in the same quarter last year[25]