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. SEACOR Marine’s consolidated operating revenues for the third quarter of 2024 were $68.9 million, operating loss was $6.5 million, and direct vessel profit (“DVP”)(1) was $16.0 million. This compares to consolidate ...

Core Viewpoint - SEACOR Marine Holdings Inc. has expanded its Board of Directors by adding Lisa P. Young as an independent member, increasing the total number of board members from five to six [1]. Company Overview - SEACOR Marine is a leading provider of marine and support transportation services to offshore energy facilities globally, operating a diverse fleet of offshore support vessels [4]. Board Member Profile - Lisa P. Young has 36 years of international experience in public accounting and professional services, previously serving as a Senior Global Client Service Partner at Ernst & Young until her retirement in 2021 [2]. - Young currently holds board positions at Valo Health, Inc. and Accelus Inc., and has served on the board of Textainer Group Holdings Limited until it was taken private in March 2024 [2]. - She is a Certified Public Accountant with a BBA in Finance and Accounting from Texas Tech University [2]. Chairman's Statement - Andrew Morse, Chairman of the Board, welcomed Ms. Young, highlighting her extensive knowledge, experience, and successful leadership track record, expressing optimism for the company's future success with her on board [3].

Group 1 - Seacor Marine reported a quarterly loss of $0.45 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.16, representing an earnings surprise of -181.25% [1] - The company posted revenues of $69.87 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 2.43% and showing an increase from $66.89 million year-over-year [2] - Over the last four quarters, Seacor Marine has surpassed consensus EPS estimates only once, indicating inconsistent performance [2] Group 2 - The stock has gained approximately 7.6% since the beginning of the year, underperforming compared to the S&P 500's gain of 14% [3] - The current consensus EPS estimate for the upcoming quarter is $0.04 on revenues of $75.74 million, while for the current fiscal year, it is -$1.08 on revenues of $277.63 million [7] - The Zacks Industry Rank for Transportation - Shipping is currently in the top 30% of over 250 Zacks industries, suggesting a favorable outlook for the industry [8] Group 3 - The estimate revisions trend for Seacor Marine is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - Another company in the same industry, ZIM Integrated Shipping Services, is expected to report quarterly earnings of $1.19 per share, reflecting a year-over-year change of +186.9% [9]

Core Viewpoint - SEACOR Marine Holdings Inc. reported a mixed performance in its second quarter of 2024, with a slight increase in revenues compared to the previous year but a significant net loss attributed to lower utilization and increased maintenance costs [2][4]. Financial Performance - Consolidated operating revenues for Q2 2024 were $69.9 million, up 2.3% from $68.3 million in Q2 2023 and up 11.3% from $62.8 million in Q1 2024 [2][3]. - The operating loss for Q2 2024 was $3.9 million, compared to an operating income of $2.9 million in Q2 2023 and an operating loss of $10.6 million in Q1 2024 [2][4]. - Direct vessel profit (DVP) for Q2 2024 was $20.3 million, down from $30.6 million in Q2 2023 but up from $14.7 million in Q1 2024 [2][3]. Key Metrics - Average day rates increased to $19,141, a 25.5% rise from Q2 2023 and consistent with Q1 2024 [3][11]. - Fleet utilization was 69%, down from 78% in Q2 2023 but up from 62% in Q1 2024 [3][11]. - DVP margin decreased to 29.1% from 44.8% in Q2 2023 but improved from 23.4% in Q1 2024 [3][11]. Net Loss and Future Outlook - The net loss for Q2 2024 was $12.5 million ($0.45 loss per share), compared to a net loss of $4.6 million ($0.17 loss per share) in Q2 2023 and a net loss of $23.1 million ($0.84 loss per share) in Q1 2024 [4][10]. - The company has a contracted revenue backlog of $403.9 million with an average contract duration of approximately one year, indicating potential for future revenue growth [5]. - SEACOR Marine plans to install hybrid battery systems on four of its platform supply vessels over the next 12 months, aiming to enhance fleet efficiency and performance [5].

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's consolidated operating revenues for the second quarter of 2024 were $69.9 million, operating loss was $3.9 million, and direct vessel profit ("DVP")(1) was $20.3 million. This compares to consolidated o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-37966 SEACOR Marine Holdings Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 47-2564547 (State or Other Jurisdic ...

Exhibit 99.1 PRESS RELEASE SEACOR MARINE ANNOUNCES SECOND QUARTER 2024 RESULTS Houston, Texas July 31, 2024 FOR IMMEDIATE RELEASE - 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's consolidated operating revenues for the second quarter of 2024 were $69.9 million, operating loss was $3.9 millio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 SEACOR Marine Holdings Inc. (Exact Name of Registrant as Specified in Its Charter) | Delaware | 47-2564547 | | --- | --- | | (State or Other Jurisdiction of | (IRS Employer | | Incorporation or Organization) | Identification No.) | | 12121 Wickchester Lane, Suite 500, Houston, TX | 77079 | | (Address of Principal Executive Office ...

Exhibit 99.1 PRESS RELEASE SEACOR MARINE ANNOUNCES FIRST QUARTER 2024 RESULTS Houston, Texas May 1, 2024 FOR IMMEDIATE RELEASE - 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 first quarter ended March 31, 2024. SEACOR Marine's consolidated operating revenues for the first quarter of 2024 were $62.8 million, operating loss was $10.6 million, ...

Exhibit 99.1 PRESS RELEASE SEACOR MARINE ANNOUNCES FOURTH QUARTER 2023 RESULTS Houston, Texas February 29, 2024 FOR IMMEDIATE RELEASE - 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, 2023. SEACOR Marine's consolidated operating revenues for the fourth quarter of 2023 were $73.1 million, operating income was $ ...