Seacor Marine Holdings reported another disappointing quarter, but not all is bad. The company's financial performance was impacted by the ongoing pandemic, but its contract backlog remains strong and its fleet is becoming more modern. Investors should maintain a hold rating for Seacor Marine.
Title: Seacor Marine Holdings: Mixed Q2 Results Amid Pandemic Challenges
Seacor Marine Holdings (SMHI) reported mixed quarterly results for the second quarter of 2025, with operating revenues of $60.8 million, operating income of $6.1 million, and a net loss of $6.7 million ($0.26 loss per share). While the company saw a 13% decrease in revenues year-over-year, it achieved a 9.6% increase from the first quarter of 2025. Key operational metrics include an average day rate of $19,731, up 3.1% year-over-year, and a 68% fleet utilization rate [2].
The company completed strategic asset sales of three vessels for $33.4 million, generating a $19.1 million gain. Part of the proceeds, $12.9 million, funded share and warrant repurchases from Carlyle, while the remainder will help fund new PSV construction scheduled for 2026-2027 delivery. Despite these challenges, activity in the Middle East market continues to be healthy, and the company recently mobilized an additional FSV to respond to market demand [2].
Chief Executive Officer John Gellert commented that the second quarter results reflect the changes to the fleet as the company continued to implement its asset rotation and repositioning strategy. The company anticipates redeploying its FSVs to international markets during the third and fourth quarters of 2025 [2].
The company's financial performance was impacted by the ongoing pandemic, but its contract backlog remains strong and its fleet is becoming more modern. Investors should maintain a hold rating for Seacor Marine based on the mixed Q2 results and the company's strategic asset sales and fleet repositioning efforts. The current consensus EPS estimate is -$0.41 on $67.17 million in revenues for the coming quarter and -$1.76 on $255.97 million in revenues for the current fiscal year [1].
References
[1] https://www.nasdaq.com/articles/seacor-marine-smhi-reports-q2-loss-lags-revenue-estimates
[2] https://www.stocktitan.net/news/SMHI/seacor-marine-announces-second-quarter-2025-m1rrl8p381rv.html
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