SEACOR Marine Holdings Inc. - SMHI STOCK NEWS

SEACOR Marine Holdings Inc. (NYSE: SMHI) has mandated Clarksons Securities AS and DNB Markets to arrange fixed income investor calls starting April 24, 2023. Following these meetings, the company may proceed with an offering of new USD-denominated 5-year senior secured bonds, contingent on market conditions. The anticipated net proceeds from the bond issuance will be used for refinancing outstanding secured debt and general corporate purposes. These bonds will be privately placed in the U.S. in accordance with securities laws and sold outside the U.S. under Regulation S of the Securities Act of 1933. SEACOR Marine provides vital marine and support transportation services to offshore energy facilities, managing a diverse fleet that supports various offshore operations.

SEACOR Marine Holdings Inc. (NYSE: SMHI) reported its fourth quarter 2022 results, revealing consolidated operating revenues of $57.9 million, an operating loss of $10.5 million, and direct vessel profit (DVP) of $13.6 million. This reflects a 20.8% revenue increase year-over-year but a 3.1% decrease sequentially. Average utilization rose to 76%, the highest in the fourth quarter since 2013. The company extended the maturity of $125 million in senior convertible debt. Despite higher repair costs impacting DVP, SEACOR Marine is optimistic about growth prospects in 2023, especially in the liftboat sector and hybrid propulsion advancements.

SEACOR Marine Holdings Inc. (SMHI) reported third-quarter results, showing consolidated revenues of $59.8 million with an operating loss of $10.9 million. Compared to $43.7 million in Q3 2021 and $54.0 million in Q2 2022, revenues increased by 37% year-over-year. DVP stood at $15.8 million, reflecting improvements in utilization at 79%, the highest since Q4 2013. Key highlights include a $66.0 million sale of joint ventures in Mexico and refinancing efforts that extend credit facility maturities to 2026. Loss from continuing operations was $24.4 million or ($0.91) per share.

SEACOR Marine Holdings (NYSE:SMHI) announced significant financial maneuvers, including the sale of minority equity interests in Mexican joint ventures for $66 million and refinancing over $175 million in debt maturities to 2026. The sale marks a lucrative exit from long-standing investments while retaining operational ties through equipment charters. The refinancing, supported by major lenders, enhances liquidity and extends debt maturities, paving the way for future opportunities amid an industry upcycle.

SEACOR Marine Holdings Inc. (NYSE: SMHI) reported its second-quarter 2022 results, showcasing consolidated operating revenues of $54.0 million, up 26% from $42.8 million in Q2 2021. However, the company faced an operating loss of $15.5 million and a net loss from continuing operations of $19.1 million ($0.72 loss per share). Average utilization rates improved to 77%, the highest since Q2 2014. Notably, the company experienced a 151% increase in dry docking and repairs compared to Q2 2021. CEO John Gellert remains optimistic about future performance as repairs conclude.

SEACOR Marine Holdings reported first-quarter 2022 results with operating revenues of $45.6 million, up 25% from $36.5 million in Q1 2021. The operating loss was $17.1 million compared to $16.6 million in the previous year, while Direct Vessel Profit (DVP) decreased to $6.1 million from $10.2 million. Notably, average utilization rates reached 70%, the highest since 2014. The net loss was $14.8 million, a slight improvement from $16.9 million year-over-year. CEO John Gellert highlighted strong demand and anticipated positive cash flows as the year progresses.

On March 10, 2022, SEACOR Marine Holdings (NYSE:SMHI) reported its fourth quarter results for 2021. The company achieved consolidated operating revenues of $48.0 million, an operating loss of $14.7 million, and a direct vessel profit (DVP) of $12.9 million. This represents improvements from the previous year, with DVP increasing by 27% sequentially and 24% year-over-year. A significant reduction in laid-up vessels and a reported 73% utilization rate were notable. However, the net loss attributable to the company was $15.8 million, better than the $38.8 million loss reported a year earlier.

SEACOR Marine Holdings (NYSE:SMHI) reported its fourth-quarter results on March 10, 2022. The company revealed consolidated operating revenues of $48.0 million, with an operating loss of $14.7 million and direct vessel profit (DVP) of $12.9 million. This shows improvement from $36.0 million in revenues and $16.9 million in losses a year earlier. Utilization rates reached 73%, the highest since Q3 2014, with only five laid-up vessels remaining. The net loss attributable to SEACOR Marine was $15.8 million ($0.62 loss per share), down from $38.8 million in Q4 2020.