STOCK TITAN
  1. Home
  2. News
  3. NETI

Eneti Inc. - NETI STOCK NEWS

Welcome to our dedicated page for Eneti news (Ticker: NETI), a resource for investors and traders seeking the latest updates and insights on Eneti stock.

Eneti Inc. (NYSE: NETI) is a prominent company specializing in providing installation and maintenance vessels to the offshore wind sector. Eneti Inc.'s core business revolves around the deployment of advanced vessels designed for the installation and upkeep of wind turbines, a critical component in the renewable energy industry. The company operates through its wholly-owned subsidiary, Seajacks UK Limited, which is known for its state-of-the-art NG14000X-class and NG16000X Wind Turbine Installation Vessels (WTIVs).

Recent achievements highlight Eneti's ongoing efforts to enhance its service offerings and expand its market presence. Notably, Seajacks UK Limited secured a significant contract in October 2023 to assist with wind turbine installations. This contract, to be executed by the vessel Seajacks Scylla, is expected to generate between USD 113 million to USD 167 million in revenue, strengthening Eneti's financial standing.

Additionally, Eneti has made strategic investments in new vessels under construction at Hanwha Ocean in South Korea, slated for deployment in 2027. These vessels are expected to further bolster the company's operational capabilities and market reach.

Financially, Eneti maintains a robust position with significant revenue projections from its contracts. The company reported strong results for the three months ended September 30, 2023, indicating continued growth and profitability. Eneti’s strategic partnerships and continuous innovation in vessel technology underscore its commitment to leading the offshore wind installation sector.

The recent merger proposal with Cadeler A/S, another leader in the offshore wind sector, marks a pivotal moment for Eneti. This merger aims to combine the strengths of both companies, enhancing their ability to serve the growing renewable energy market.

For the latest updates, financial reports, and detailed company information, visit Eneti Inc.'s website.

News

Eneti Inc. and Cadeler A/S Share Exhange Offer Expiration Date is December 14, 2023

Rhea-AI Summary
Eneti Inc. (NETI) and Cadeler A/S (CADLR) have extended the expiration date for the share exchange offer to acquire all of Eneti's common stock, with the settlement expected to be completed on or before December 21, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.74%
Tags
none
-
News

Cadeler A/S and Eneti Inc. Announce Extension of the Share Exchange Offer for All Outstanding Shares of Common Stock of Eneti Inc. to December 14, 2023 and New Loan Facility

Rhea-AI Summary
Cadeler A/S (CADLR) and Eneti Inc. (NETI) have extended the expiration date for the share exchange offer to acquire all of the issued and outstanding shares of Eneti Inc. to 5:30 p.m. Eastern Time on December 14, 2023. The minimum tender condition for the Share Exchange Offer has been reduced from 85.01% to 70%. JPMorgan Chase Bank, N.A. has advised Cadeler that approximately 78.25% of the total number of issued and outstanding shares of Eneti Common Stock had been validly tendered and not validly withdrawn in the Share Exchange Offer.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.41%
Tags
none
-
News

Eneti Inc. Announces Closing of a $436.0 Million Credit Facility and Sale of Two NG2500X Vessels

Rhea-AI Summary
Eneti Inc. (NETI) secures a senior secured green term loan facility of up to $436.0 million to finance approximately 65% of the purchase cost of the Company’s two newbuild wind turbine installation vessels. The Credit Facility includes tranches from international banks and export credit agencies, with a maturity date of 12 years from the delivery date of each vessel. The facility bears interest at a blended margin of SOFR plus 2.36% per annum. The recent deliveries of Seajacks Hydra, Seajacks Leviathan, and Seajacks Kraken complete the sale of all of the Company’s NG2500X vessels.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.07%
Tags
none
News

Eneti Inc. Announces Financial Results for the Third Quarter of 2023 and Declares a Quarterly Cash Dividend

Rhea-AI Summary
Eneti Inc. (NYSE: NETI) reported its Q3 2023 results, including $53.2M total revenues and $18.3M GAAP net income. The board declared a $0.01 quarterly cash dividend per share. Adjusted net income was $18.5M, excluding $0.2M transaction costs. The company's liquidity stood at $105.2M as of November 10, 2023. Newbuildings and sale of NG 2500X Vessels were highlighted. The company also announced new contracts, including a $113.0M to $167.0M revenue contract for the NG14000X-class vessel.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
dividends earnings
-
News

Cadeler A/S and Eneti Inc. Announce Launch of Share Exchange Offer for All of The Outstanding Shares of Common Stock of Eneti Inc.

Rhea-AI Summary
Cadeler A/S (OSE: CADLR) and Eneti Inc. (NYSE: NETI) announce a share exchange offer for all outstanding shares of Eneti, expected to close within Q4 2023. The combined group will be named Cadeler, headquartered in Copenhagen, Denmark, with shares listed on the New York Stock Exchange in addition to the Oslo Stock Exchange. The business combination will deliver annual synergies of €106 million, excluding costs, and the management anticipates numerous possibilities to increase efficiency in the market.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.7%
Tags
none
-
News

Eneti Inc. to Announce Third Quarter 2023 Results and Have a Conference Call on November 14, 2023

Rhea-AI Summary
Eneti Inc. (NYSE: NETI) will release its third quarter 2023 financial results on November 14, 2023. A conference call to discuss the results will be held at 9:00 AM Eastern Time / 3:00 PM Central European Time on the same day. The call can be accessed by dialing 1 (877) 513-1694 (U.S.) or 1 (412) 902-4269 (International). A live webcast will also be available on the Eneti Inc. website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.1%
Tags
earnings
News

Eneti Inc. Signs Installation Contract for Newbuild WTIV

Rhea-AI Summary
Eneti Inc. subsidiary, Seajacks UK Limited, has signed a contract to transport and install turbines for an undisclosed client. The contract is expected to generate between $73 million and $84 million of gross revenue and project costs are estimated at $8 million. CEO Emanuele Lauro highlights the strong market fundamentals and the flexibility of the newbuildings to maximize vessel utilization and generate cash flows.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.04%
Tags
none
-
News

Eneti Inc. Signs Contract for Seajacks Scylla

Rhea-AI Summary
Eneti's subsidiary, Seajacks UK Limited, has signed a contract to assist with the installation of wind turbines, generating an estimated revenue of USD 113 million to USD 167 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.23%
Tags
none
-
News

Eneti Inc. Signs Vessel Reservation Contract for Newbuild WTIV

Rhea-AI Summary
Eneti Inc. subsidiary signs vessel reservation agreement for wind turbine installation, expected to generate $87-100 million in revenue
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.56%
Tags
none
News

Eneti Inc. Announces Financial Results for the Second Quarter of 2023 and Declares a Quarterly Cash Dividend

Rhea-AI Summary
Eneti Inc. reports Q2 2023 results with a net loss of $49.8 million and quarterly cash dividend of $0.01 per share. Total revenues for Q2 2023 were $38.8 million, a decrease from $61.3 million in Q2 2022. The company's adjusted net income for Q2 2023 was $2.8 million. The board of directors also declared a quarterly cash dividend of $0.01 per share.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.45%
Tags
dividends earnings

FAQ

What is the market cap of Eneti (NETI)?

The market cap of Eneti (NETI) is approximately 437.9M.

What does Eneti Inc. do?

Eneti Inc. specializes in providing installation and maintenance vessels for the offshore wind sector.

Where is Eneti Inc. listed?

Eneti Inc. is listed on the New York Stock Exchange under the ticker symbol NETI.

What is the significance of the Seajacks Scylla vessel?

The Seajacks Scylla is a state-of-the-art NG14000X-class Wind Turbine Installation Vessel used for installing offshore wind turbines, generating significant revenue for the company.

What are Eneti Inc.'s recent financial achievements?

Eneti Inc. reported strong financial results for Q3 2023 and has secured several lucrative contracts, enhancing its revenue and market position.

What are the future plans for Eneti Inc.?

Eneti plans to deploy new vessels currently under construction in South Korea by 2027, to further expand their capabilities in the offshore wind sector.

How does the merger with Cadeler A/S affect Eneti Inc.?

The proposed merger with Cadeler A/S aims to combine resources and expertise, potentially increasing their market share and operational efficiency in the offshore wind sector.

Who is the CEO of Eneti Inc.?

The CEO of Eneti Inc. is Emanuele Lauro.

How can investors contact Eneti Inc.?

Investors can contact Eneti Inc. through James Doyle, Head of Corporate Development & Investor Relations, at +1 646-432-1678 or via email at Investor.Relations@Eneti-inc.com.

What recent contracts has Eneti Inc. secured?

Eneti has recently secured contracts for wind turbine installation, projected to generate substantial revenue, beginning mobilization in 2024 and 2027.

Where can I find more information about Eneti Inc.?

More information about Eneti Inc. can be found on their official website: www.eneti-inc.com.

Stock NETI logo
Eneti Inc.

NYSE:NETI

NETI Rankings

N/A Ranked by Market Cap
N/A Ranked by Dividends

NETI Stock Data

437.87M
5.26M
86.39%
36.58%
1.75%
Marine Shipping
Industrials
Link
Monaco
Monaco