AG真人官方

SEACOR Marine Announces Second Quarter 2025 Results

HOUSTON, July 30, 2025 (GLOBE NEWSWIRE) -- SEACOR Marine Holdings Inc. (NYSE: SMHI) (the 鈥淐ompany鈥� or 鈥淪EACOR Marine鈥�), a leading provider of marine and support transportation services to offshore energy facilities worldwide, today announced results for its second quarter ended June 30, 2025.

SEACOR Marine鈥檚 consolidated operating revenues for the second quarter of 2025 were $60.8 million, operating income was $6.1 million, and direct vessel profit (鈥淒VP鈥�)⁽¹⁾ was $11.3 million. This compares to consolidated operating revenues of $69.9 million, operating loss of $3.9 million, and DVP of $20.3 million in the second quarter of 2024, and consolidated operating revenues of $55.5 million, operating loss of $5.3 million, and DVP of $13.6 million in the first quarter of 2025.

Notable second quarter items include:

• 13.0% decrease in revenues from the second quarter of 2024 and a 9.6% increase from the first quarter of 2025.
• Average day rates of $19,731, a 3.1% increase from the second quarter of 2024, and a 4.8% increase from the first quarter of 2025.
• 68% utilization, a decrease from 69% in the second quarter of 2024 and an increase from 60% in the first quarter of 2025.
• DVP margin of 18.6%, a decrease from 29.1% in the second quarter of 2024 and a decrease from 24.5% in the first quarter of 2025, due in part to $9.2 million of drydocking and major repairs during the second quarter of 2025 compared to $8.5 million in the second quarter of 2024 and $5.2 million in the first quarter of 2025, all of which are expensed as incurred.
• During the second quarter of 2025, the Company completed the sale of two platform supply vessels (鈥淧SVs鈥�) and one fast supply vessel (鈥淔SV鈥�) for total proceeds of $33.4 million and a gain of $19.1 million. Approximately $12.9 million of the proceeds were used to fund the repurchase of shares and warrants from Carlyle, and the remainder was held as restricted cash to partially fund future milestone payments for the construction of two new PSVs scheduled to deliver in the fourth quarter of 2026 and first quarter of 2027.
  

For the second quarter of 2025, net loss was $6.7 million ($0.26 loss per basic and diluted share). This compares to a net loss for the second quarter of 2024 of $12.5 million ($0.45 loss per basic and diluted share). Sequentially, the second quarter 2025 results compare to a net loss of $15.5 million ($0.56 loss per basic and diluted share) in the first quarter of 2025.

Chief Executive Officer John Gellert commented:

鈥淭he second quarter results reflect the changes to our fleet as we continued to implement our asset rotation and repositioning strategy.

Our PSV fleet saw substantial improvement on average rates and utilization, achieving a 30.3% DVP margin, even with two of our premium PSVs being out of the market the entire quarter for repairs; one of which also received a hybrid power management upgrade. The two PSVs that we sold during the quarter were sold at compelling values and were some of our first-generation handy size vessels targeting the shallow water market, which is seeing increased vertical integration in some geographic markets. PSVs contributed greatly to our results in Latin America and West Africa, as well as in the Middle East where we operate two of our PSVs in a walk-to-work configuration outfitted with motion compensated gangways owned by SEACOR Marine.

In the Middle East, the results were largely affected by repairs to one of our premium liftboats for almost the entire quarter. These repairs are ongoing as the scope and cost has exceeded our initial expectations, with the liftboat expected to return to service in September 2025. Despite these challenges, activity in the Middle East market continues to be healthy, and we recently mobilized an additional FSV to respond to market demand.

In the U.S., we saw a noticeable improvement driven mostly by higher day rates and utilization for our liftboats, offset by higher drydocking expense and the layup of our three FSVs in the region. We anticipate redeploying these FSVs to international markets during the third and fourth quarter of 2025.

As previously announced, on April 4, 2025, we repurchased shares and warrants representing 9.1% of the outstanding shares of common stock of the Company, assuming the full exercise of the warrants, from Carlyle. The aggregate purchase price was approximately $12.9 million. This was a unique opportunity to buy back a significant number of shares and warrants in a single block, and to simplify our capital structure by eliminating all outstanding warrants.

We will continue to adapt and reposition SEACOR Marine into markets and assets with lower volatility and better returns over the coming quarters and ahead of our new PSV deliveries in 2026 and 2027. We have one of the youngest fleets in the sector and will continue to demonstrate the embedded value of our assets.鈥�
___________________

SEACOR Marine provides global marine and support transportation services to offshore energy facilities worldwide. SEACOR Marine operates and manages a diverse fleet of offshore support vessels that deliver cargo and personnel to offshore installations, including offshore wind farms; assist offshore operations for production and storage facilities; provide construction, well work-over, offshore wind farm installation and decommissioning support; and carry and launch equipment used underwater in drilling and well installation, maintenance, inspection and repair. Additionally, SEACOR Marine鈥檚 vessels provide emergency response services and accommodations for technicians and specialists.

Certain statements discussed in this release as well as in other reports, materials and oral statements that the Company releases from time to time to the public constitute 鈥渇orward-looking statements鈥� within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as 鈥渁nticipate,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥減roject,鈥� 鈥渋ntend,鈥� 鈥渂elieve,鈥� 鈥減lan,鈥� 鈥渢arget,鈥� 鈥渇orecast鈥� and similar expressions are intended to identify forward-looking statements. Such forward-looking statements concern management鈥檚 expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. Forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or expected by the management of the Company. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. Actual events or results are subject to significant known and unknown risks, uncertainties and other important factors, many of which are beyond the Company鈥檚 control and are described in the Company鈥檚 filings with the SEC. It should be understood that it is not possible to predict or identify all such factors. Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company鈥檚 expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. It is advisable, however, to consult any further disclosures the Company makes on related subjects in its filings with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K (if any). These statements constitute the Company鈥檚 cautionary statements under the Private Securities Litigation Reform Act of 1995.

Please visit SEACOR Marine鈥檚 website at www.seacormarine.com for additional information.
For all other requests, contact

__________________
(1) See full description of footnote above.
(2) Includes available days for a bareboat charter for one PSV, which has been excluded from days worked and average day rates.

__________________
(1) See full description of footnote above.
(2) Includes three FSVs cold-stacked in this region as of June 30, 2025.

__________________
(1) See full description of footnote above.
(2) Includes available days for a bareboat charter for one PSV, which has been excluded from days worked and average day rates.

__________________
(1) Includes available days for a bareboat charter for one PSV, which has been excluded from days worked and average day rates.