SEACOR Marine Announces Third Quarter 2026 Results

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Postmedia has not reviewed the content. by GlobeNewswire SEACOR Marine Announces Third Quarter 2026 ResultsAuthor of the article:HOUSTON, Oct. 28, 2026 (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, 2026.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThird Quarter 2026 ResultsSEACOR Marine’s consolidated operating revenues for the third quarter of 2026 were $57.3 million, operating loss was $1.4 million, and direct vessel profit (“DVP”)(1) was $18.9 million. This compares to consolidated operating revenues of $59.2 million, operating income of $18.1 million, and DVP of $11.5 million in the third quarter of 2025, and consolidated operating revenues of $54.6 million, operating income of $16.0 million, and DVP of $7.9 million in the second quarter of 2026.This advertisement has not loaded yet, but your article continues below.Notable third quarter items include:Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againAverage day rates of $21,100, compared to $19,490 in the third quarter of 2025 and $20,227 in the second quarter of 2026.71% utilization, compared to 66% in the third quarter of 2025 and 68% in the second quarter of 2026.DVP margin of 33.1%, compared to 19.4% in the third quarter of 2025 and 14.5% in the second quarter of 2026.3.3% decrease in revenues from the third quarter of 2025 and 4.8% increase from the second quarter of 2026.Operating performance improved significantly; adjusting for all vessels sold during or after the third quarter of 2025, revenues increased by 25.6% from the third quarter of 2025 and 6.2% from the second quarter of 2026, and DVP increased by 110.9% from the third quarter of 2025 and 120.8% from the second quarter of 2026.For the third quarter of 2026, net loss was $9.5 million ($0.36 loss per basic and diluted share). This compares to a net income for the third quarter of 2025 of $9.0 million ($0.35 earnings per basic and diluted share). Sequentially, the third quarter of 2026 results compare to a net income of $3.3 million ($0.13 earnings per basic share and $0.12 earnings per diluted share) in the second quarter of 2026.This advertisement has not loaded yet, but your article continues below.Chief Executive Officer John Gellert commented:“Our third quarter results reflect improved utilization, day rates and margins led by the performance of our platform supply vessel (“PSV”) fleet. These positive trends were partially offset by the ongoing maintenance for our two premium liftboats and lower utilization in our fast support vessel (“FSV”) fleet, especially in the Middle East. This reflects a softening market in the Middle East primarily due to delays in both construction and drilling projects in the region as a result of current operating conditions.We look forward to taking delivery of our two newbuild PSVs in the coming months and remain confident in their charter prospects. We remain focused on operational execution and continue to implement our strategy of improving term coverage in less volatile markets.”Separately, as previously announced on July 29, 2026, SEACOR Marine’s Board is continuing with its evaluation of strategic alternatives to maximize shareholder value with the assistance of independent financial advisors. The Board and management team remain fully committed to acting in the best interests of the Company and its stakeholders throughout this evaluation process. There can be no assurance that the strategic review process will result in any transaction or other strategic outcome. The Company has not established a timetable for completion of the review process and does not intend to disclose developments related to the review unless and until SEACOR Marine executes a definitive agreement with respect thereto, or the Board otherwise determines that further disclosure is appropriate or required.___________________This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.(1)Direct vessel profit (defined as operating revenues less operating costs and expenses, “DVP”) is the Company’s measure of segment profitability. DVP is a critical financial measure used by the Company to analyze and compare the operating performance of its regions, without regard to financing decisions (depreciation and interest expense for owned vessels vs. lease expense for lease vessels). DVP is also useful when comparing the Company’s global fleet performance against those of our competitors who may have differing fleet financing structures. DVP has material limitations as an analytical tool in that it does not reflect all of the costs associated with the ownership and operation of our fleet, and it should not be considered in isolation or used as a substitute for our results as reported under GAAP. See page 4 for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. 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’s vessels provide emergency response services and accommodations for technicians and specialists.This advertisement has not loaded yet, but your article continues below.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 “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “believe,” “plan,” “target,” “forecast” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements concern management’s expectations, strategic objectives, including our announcement of the commencement of a strategic review of the business, 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. Achievement of these expectations and strategic objectives, including any increase to shareholder value from the strategic review, business prospects, anticipated economic performance and financial condition involve significant known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of results to differ materially from any future results, performance or achievements discussed or implied by such forward-looking statements. Certain of these risks, uncertainties and other important factors are beyond the Company’s control and are described in the Company’s 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’s 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’s cautionary statements under the Private Securities Litigation Reform Act of 1995.This advertisement has not loaded yet, but your article continues below.Please visit SEACOR Marine’s website at www.seacormarine.com for additional information.For media, contact:H/Advisors – U.S.Dana Gorman / Amy Fengdana.gorman@h-advisors.global / amy.feng@h-advisors.globalSEACOR MARINE HOLDINGS INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)(in thousands, except share data) Three Months Ended September 30, Nine months ended September 30, 2026 2025 2026 2025 Operating Revenues $57,251 $59,194 $156,163 $175,503 Costs and Expenses: Operating 38,317 47,684 122,574 139,105 Administrative and general 10,034 11,269 32,331 34,753 Lease expense 337 280 853 942 Depreciation and amortization 9,954 12,125 31,002 37,025 58,642 71,358 186,760 211,825 (Losses) Gains on Asset Dispositions and Impairments, Net (4) 30,230 38,791 55,202 Operating (Loss) Income (1,395) 18,066 8,194 18,880 Other Income (Expense): Interest income 420 297 1,354 1,105 Interest expense (7,581) (8,947) (24,064) (27,377)Derivative gains, net — 17 — 229 Foreign currency gains (losses), net 201 218 (302) (3,097)Gains on insurance claim settlement — 4,581 — 4,581 Other, net 19 (221) 23 (221) (6,941) (4,055) (22,989) (24,780)(Loss) Income Before Income Tax Expense and Equity in (Losses) Earnings of 50% or Less Owned Companies (8,336) 14,011 (14,795) (5,900)Income Tax Expense 1,074 5,410 7,233 8,822 (Loss) Income Before Equity in (Losses) Earnings of 50% or Less Owned Companies (9,410) 8,601 (22,028) (14,722)Equity in (Losses) Earnings of 50% or Less Owned Companies (54) 393 52 1,500 Net (Loss) Income $(9,464) $8,994 $(21,976) $(13,222) Net (Loss) Earnings Per Share: Basic $(0.36) $0.35 $(0.85) $(0.50)Diluted $(0.36) $0.35 $(0.85) $(0.50)Weighted Average Common Stock Outstanding: Basic 26,157,107 25,657,809 26,006,085 26,409,312 Diluted 26,157,107 25,887,710 26,006,085 26,409,312 This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.SEACOR MARINE HOLDINGS INC.UNAUDITED CONSOLIDATED STATEMENTS OF INCOME (LOSS)(in thousands, except statistics and per share data) Three Months Ended Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Time Charter Statistics: Average Rates Per Day $21,100 $20,227 $18,199 $17,519 $19,490 Fleet Utilization 71% 68% 59% 69% 66%Fleet Available Days(2) 3,496 3,635 3,897 4,127 4,321 Operating Revenues: Time charter $52,163 $49,697 $41,957 $49,817 $55,958 Bareboat charter 846 834 828 843 846 Other marine services 4,242 4,099 1,497 1,669 2,390 57,251 54,630 44,282 52,329 59,194 Costs and Expenses: Operating: Personnel 14,915 15,697 15,422 16,539 17,616 Repairs and maintenance 9,409 12,648 10,600 11,752 14,603 Drydocking 337 2,961 1,252 1,175 2,430 Insurance and loss reserves 3,646 2,698 1,792 1,570 1,948 Fuel, lubes and supplies 3,851 5,302 3,308 4,601 4,465 Other 6,159 7,378 5,199 7,030 6,622 38,317 46,684 37,573 42,667 47,684 Direct Vessel Profit(1) 18,934 7,946 6,709 9,662 11,510 Other Costs and Expenses: Lease expense 337 266 250 261 280 Administrative and general 10,034 12,343 9,954 12,730 11,269 Depreciation and amortization 9,954 10,718 10,330 10,045 12,125 20,325 23,327 20,534 23,036 23,674 (Losses) Gains on Asset Dispositions and Impairments, Net (4) 31,347 7,448 8,210 30,230 Operating (Loss) Income (1,395) 15,966 (6,377) (5,164) 18,066 Other Income (Expense): Interest income 420 443 491 751 297 Interest expense (7,581) (8,244) (8,239) (8,673) (8,947)Derivative (losses) gains, net — — — (73) 17 Foreign currency gains (losses), net 201 (981) 478 (38) 218 Gains on insurance claim settlement — — — — 4,581 Other, net 19 4 — 32 (221) (6,941) (8,778) (7,270) (8,001) (4,055)(Loss) Income Before Income Tax Expense and Equity in (Losses) Earnings of 50% or Less Owned Companies (8,336) 7,188 (13,647) (13,165) 14,011 Income Tax Expense 1,074 3,951 2,208 1,688 5,410 (Loss) Income Before Equity in (Losses) Earnings of 50% or Less Owned Companies (9,410) 3,237 (15,855) (14,853) 8,601 Equity in (Losses) Earnings of 50% or Less Owned Companies (54) 56 50 231 393 Net (Loss) Income $(9,464) $3,293 $(15,805) $(14,622) $8,994 Net (Loss) Earnings Per Share: Basic $(0.36) $0.13 $(0.61) $(0.57) $0.35 Diluted $(0.36) $0.12 $(0.61) $(0.57) $0.35 Weighted Average Common Stock Outstanding: Basic 26,157 26,072 25,785 25,671 25,658 Diluted 26,157 26,354 25,785 25,671 25,888 Common Shares Outstanding at Period End 27,151 27,133 27,062 26,952 26,976 This advertisement has not loaded yet, but your article continues below.(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.SEACOR MARINE HOLDINGS INC.UNAUDITED DIRECT VESSEL PROFIT (“DVP”) BY SEGMENT(in thousands, except statistics) Three Months Ended Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Americas Time Charter Statistics: Average rates per day worked $31,003 $28,394 $20,546 $18,188 $22,809 Fleet utilization 70% 58% 35% 50% 59%Fleet available days(2) 828 935 1,369 1,477 1,561 Out-of-service days for repairs, maintenance and drydockings 136 153 190 127 198 Out-of-service days for cold-stacked status — — 61 92 116 Operating Revenues: Time charter $18,029 $15,518 $9,843 $13,560 $20,995 Bareboat charter 846 834 828 843 846 Other marine services 738 1,353 282 519 1,338 19,613 17,705 10,953 14,922 23,179 Direct Costs and Expenses: Operating: Personnel 5,457 5,322 6,007 7,115 8,195 Repairs and maintenance 2,644 2,252 1,644 1,955 2,274 Drydocking (55) 680 440 (102) 1,018 Insurance and loss reserves 511 787 423 465 1,011 Fuel, lubes and supplies 1,093 1,494 1,075 1,618 1,443 Other 2,241 3,271 1,384 3,096 1,882 11,891 13,806 10,973 14,147 15,823 Direct Vessel Profit (Loss)(1) $7,722 $3,899 $(20) $775 $7,356 Other Costs and Expenses: Lease expense $213 $191 $177 $185 $202 Depreciation and amortization 2,393 3,168 3,166 2,917 4,592 Africa and Europe Time Charter Statistics: Average rates per day worked $18,854 $18,877 $18,711 $17,095 $17,983 Fleet utilization 80% 77% 78% 84% 75%Fleet available days 1,748 1,741 1,538 1,559 1,656 Out-of-service days for repairs, maintenance and drydockings 123 195 202 144 229 Operating Revenues: Time charter $26,295 $25,248 $22,534 $22,317 $22,357 Other marine services 1,558 1,041 577 580 733 27,853 26,289 23,111 22,897 23,090 Direct Costs and Expenses: Operating: Personnel 5,439 5,523 4,982 4,656 4,465 Repairs and maintenance 3,657 5,673 2,957 4,694 6,531 Drydocking 11 554 176 987 1,413 Insurance and loss reserves 633 504 330 481 326 Fuel, lubes and supplies 1,410 2,416 1,334 1,292 1,781 Other 3,142 3,154 3,192 2,558 3,573 14,292 17,824 12,971 14,668 18,089 Direct Vessel Profit(1) $13,561 $8,465 $10,140 $8,229 $5,001 Other Costs and Expenses: Lease expense $55 $— $— $8 $8 Depreciation and amortization 4,490 4,485 4,063 3,968 4,302 This advertisement has not loaded yet, but your article continues below.(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.SEACOR MARINE HOLDINGS INC.UNAUDITED DIRECT VESSEL PROFIT (“DVP”) BY SEGMENT (continued)(in thousands, except statistics) Three Months Ended Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Middle East and Asia Time Charter Statistics: Average rates per day worked $15,804 $15,588 $15,400 $17,587 $17,818 Fleet utilization 54% 60% 63% 73% 64%Fleet available days 920 959 990 1,091 1,104 Out-of-service days for repairs, maintenance and drydockings 200 300 268 72 157 Operating Revenues: Time charter $7,839 $8,931 $9,580 $13,940 $12,606 Other marine services 1,946 1,705 638 570 319 9,785 10,636 10,218 14,510 12,925 Direct Costs and Expenses: Operating: Personnel 4,019 4,852 4,433 4,768 4,956 Repairs and maintenance 3,108 4,723 5,999 5,103 5,798 Drydocking 381 1,727 636 290 (1)Insurance and loss reserves 2,502 1,407 1,039 624 611 Fuel, lubes and supplies 1,348 1,392 899 1,691 1,241 Other 776 953 623 1,376 1,167 12,134 15,054 13,629 13,852 13,772 Direct Vessel (Loss) Profit(1) $(2,349) $(4,418) $(3,411) $658 $(847)Other Costs and Expenses: Lease expense $69 $75 $73 $68 $70 Depreciation and amortization 3,071 3,065 3,101 3,160 3,231 This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.(1) See full description of footnote above.SEACOR MARINE HOLDINGS INC.UNAUDITED PERFORMANCE BY VESSEL CLASS(in thousands, except statistics) Three Months Ended Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 AHTS Operating Revenues: Time charter $— $— $— $— $— Other marine services — — — — (7) — — — — (7)Direct Costs and Expenses: Operating: Personnel $— $— $— $12 $11 Repairs and maintenance — — — — (24)Insurance and loss reserves — — — — — Fuel, lubes and supplies — — — 1 3 Other — — — 9 18 — — — 22 8 Other Costs and Expenses: Depreciation and amortization $— $— $— $4 $4 FSV Time Charter Statistics: Average rates per day worked $14,567 $14,411 $13,833 $14,114 $14,007 Fleet utilization 69% 74% 73% 75% 71%Fleet available days 1,840 1,840 1,862 1,932 1,932 Out-of-service days for repairs, maintenance and drydockings 182 348 353 209 236 Out-of-service days for cold-stacked status — — 61 92 116 Operating Revenues: Time charter $18,448 $19,636 $18,929 $20,546 $19,131 Other marine services 1,755 1,819 471 492 566 20,203 21,455 19,400 21,038 19,697 Direct Costs and Expenses: Operating: Personnel $4,960 $5,416 $5,166 $4,980 $4,502 Repairs and maintenance 5,137 6,434 3,179 5,862 6,041 Drydocking 213 898 576 1,098 678 Insurance and loss reserves 682 951 663 509 270 Fuel, lubes and supplies 1,419 1,481 1,503 1,850 1,480 Other 2,503 2,548 1,683 2,147 2,889 14,914 17,728 12,770 16,446 15,860 Other Costs and Expenses: Depreciation and amortization $4,729 $5,244 $4,719 $4,707 $4,695 This advertisement has not loaded yet, but your article continues below.SEACOR MARINE HOLDINGS INC.UNAUDITED PERFORMANCE BY VESSEL CLASS (continued)(in thousands, except statistics) Three Months Ended Jun. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 PSV Time Charter Statistics: Average rates per day worked $28,052 $28,443 $25,352 $20,118 $21,507 Fleet utilization 81% 70% 54% 68% 65%Fleet available days(1) 1,380 1,427 1,585 1,735 1,748 Out-of-service days for repairs, maintenance and drydockings 94 114 37 48 161 Operating Revenues: Time charter $31,244 $28,622 $21,688 $23,801 $24,439 Bareboat charter 846 834 828 843 846 Other marine services 1,449 1,459 811 440 592 33,539 30,915 23,327 25,084 25,877 Direct Costs and Expenses: Operating: Personnel $8,241 $7,859 $7,348 $8,322 $7,882 Repairs and maintenance 2,198 2,865 2,801 3,501 4,618 Drydocking (70) 803 133 (166) 1,113 Insurance and loss reserves 891 903 448 656 546 Fuel, lubes and supplies 1,724 3,290 1,201 1,985 2,030 Other 3,642 4,357 3,292 4,378 3,262 16,626 20,077 15,223 18,676 19,451 Other Costs and Expenses: Depreciation and amortization $3,612 $3,565 $3,574 $3,301 $3,968 This advertisement has not loaded yet, but your article continues below.(1) Includes available days for a bareboat charter for one PSV, which has been excluded from days worked and average day rates.SEACOR MARINE HOLDINGS INC.UNAUDITED PERFORMANCE BY VESSEL CLASS (continued)(in thousands, except statistics) Three Months Ended Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Liftboats Time Charter Statistics: Average rates per day worked $26,855 $16,417 $16,420 $26,703 $33,566 Fleet utilization 33% 24% 18% 45% 58%Fleet available days 276 368 450 460 641 Out-of-service days for repairs, maintenance and drydockings 184 188 270 87 188 Operating Revenues: Time charter $2,471 $1,448 $1,340 $5,470 $12,388 Other marine services 687 789 178 359 1,128 3,158 2,237 1,518 5,829 13,516 Direct Costs and Expenses: Operating: Personnel $1,723 $2,409 $2,897 $3,241 $5,209 Repairs and maintenance 2,062 3,294 4,594 2,375 3,943 Drydocking 194 1,260 543 243 639 Insurance and loss reserves 1,932 844 943 415 1,145 Fuel, lubes and supplies 696 531 600 715 951 Other 3 497 182 564 407 6,610 8,835 9,759 7,553 12,294 Other Costs and Expenses: Depreciation and amortization $1,589 $1,734 $2,027 $2,026 $3,450 Other Activity Operating Revenues: Time charter — $(9) $— $— $— Other marine services 351 32 37 378 111 351 23 37 378 111 Direct Costs and Expenses: Operating: Personnel $(9) $13 $11 $(16) $12 Repairs and maintenance 12 55 26 14 25 Insurance and loss reserves 141 — (262) (10) (13)Fuel, lubes and supplies 12 — 4 50 1 Other 11 (24) 42 (68) 46 167 44 (179) (30) 71 Other Costs and Expenses: Lease expense $337 $266 $250 $261 $280 Depreciation and amortization 24 175 10 7 8 This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.SEACOR MARINE HOLDINGS INC.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands) Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 ASSETS Current Assets: Cash and cash equivalents $41,924 $55,397 $38,721 $68,934 $90,953 Restricted cash 33,666 37,643 36,711 24,182 17,255 Receivables: Trade, net of allowance for credit loss 66,828 61,955 69,200 64,522 62,788 Other 6,283 5,857 4,897 3,965 17,308 Inventories 2,038 2,061 2,746 2,196 2,552 Prepaid expenses and other 6,098 5,407 6,007 5,173 3,448 Assets held for sale — — 13,376 10,812 — Total current assets 156,837 168,320 171,658 179,784 194,304 Property and Equipment: Historical cost 747,581 754,369 752,640 776,833 797,381 Accumulated depreciation (353,151) (351,840) (341,790) (348,812) (344,899) 394,430 402,529 410,850 428,021 452,482 Construction in progress 61,485 56,594 52,429 47,002 40,394 Net property and equipment 455,915 459,123 463,279 475,023 492,876 Right-of-use asset – operating leases 784 933 929 982 903 Right-of-use asset – finance leases 102 14 17 19 22 Investments, at equity, and advances to 50% or less owned companies 956 3,009 2,951 2,938 2,707 Other assets 1,921 1,925 1,913 1,855 1,686 Total assets $616,515 $633,324 $640,747 $660,601 $692,498 LIABILITIES AND EQUITY Current Liabilities: Current portion of operating lease liabilities $464 $549 $481 $405 $510 Current portion of finance lease liabilities 24 12 12 12 11 Current portion of long-term debt 31,048 30,699 30,350 30,000 30,000 Accounts payable 12,215 14,229 16,355 21,268 25,928 Other current liabilities 27,462 25,279 25,476 19,044 24,702 Total current liabilities 71,213 70,768 72,674 70,729 81,151 Long-term operating lease liabilities 477 559 470 607 567 Long-term finance lease liabilities 84 3 5 8 11 Long-term debt 281,935 289,503 297,072 304,644 311,858 Deferred income taxes 18,175 19,580 18,894 19,376 20,609 Deferred gains and other liabilities 489 599 3,794 565 639 Total liabilities 372,373 381,012 392,909 395,929 414,835 Equity: SEACOR Marine Holdings Inc. stockholders’ equity: Common stock 285 284 284 280 281 Additional paid-in capital 475,603 474,395 473,241 471,862 470,228 Accumulated deficit (230,420) (220,956) (224,249) (208,444) (193,822)Shares held in treasury (11,470) (11,470) (11,428) (9,691) (9,639)Accumulated other comprehensive income, net of tax 9,823 9,738 9,669 10,344 10,294 243,821 251,991 247,517 264,351 277,342 Noncontrolling interests in subsidiaries 321 321 321 321 321 Total equity 244,142 252,312 247,838 264,672 277,663 Total liabilities and equity $616,515 $633,324 $640,747 $660,601 $692,498 This advertisement has not loaded yet, but your article continues below.SEACOR MARINE HOLDINGS INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands) Three Months Ended Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025 Cash Flows from Operating Activities: Net (Loss) Income $(9,464) $3,293 $(15,805) $(14,622) $8,994 Adjustments to reconcile net (loss) income to net cash used in operating activities: Depreciation and amortization 9,954 10,718 10,330 10,045 12,125 Deferred financing costs amortization 43 43 42 173 (86)Stock-based compensation expense 1,129 1,132 1,383 1,633 1,559 Debt discount amortization 238 237 236 243 236 Allowance for credit losses (126) 64 57 (620) 627 Losses (gains) from equipment sales, retirements or impairments, net 4 (31,347) (7,448) (8,210) (30,230)Derivative losses (gains) — — — 73 (17)Interest on finance lease 2 — 1 1 1 Settlements on derivative transactions, net — — — 65 — Currency (gains) losses (201) 981 (478) 38 (218)Deferred income taxes (1,405) 686 (482) (1,233) 2,279 Equity losses (earnings) 54 (56) (50) (231) (393)Dividends received from equity investees 2,027 — — — — Changes in Operating Assets and Liabilities: Accounts receivables (5,045) 5,763 (5,735) 12,222 (6,700)Other assets (509) 1,415 (1,306) (1,530) 1,385 Accounts payable and accrued liabilities 154 (6,107) 4,122 (10,246) (221)Net cash used in operating activities (3,145) (13,178) (15,133) (12,199) (10,659)Cash Flows from Investing Activities: Purchases of property and equipment (7,076) (6,429) (6,088) (8,427) (9,348)Proceeds from disposition of property and equipment 201 44,737 12,778 13,087 76,068 Net cash (used in) provided by investing activities (6,875) 38,308 6,690 4,660 66,720 Cash Flows from Financing Activities: Payments on long-term debt (7,500) (7,500) (7,500) (7,500) (7,500)Proceeds from issuance of long-term debt, net of debt discount and issuance costs — — — — 8,098 Payments on finance leases (8) (4) (3) (4) (3)Excise tax on stock repurchase — 22 — — — Proceeds from exercise of stock options 80 — — — — Tax withholdings on restricted stock vesting — (42) (1,737) (52) — Net cash (used in) provided by financing activities (7,428) (7,524) (9,240) (7,556) 595 Effects of Exchange Rate Changes on Cash, Restricted Cash and Cash Equivalents (2) 2 (1) 3 (3)Net Change in Cash, Restricted Cash and Cash Equivalents (17,450) 17,608 (17,684) (15,092) 56,653 Cash, Restricted Cash and Cash Equivalents, Beginning of Period 93,040 75,432 93,116 108,208 51,555 Cash, Restricted Cash and Cash Equivalents, End of Period $75,590 $93,040 $75,432 $93,116 $108,208 SEACOR MARINE HOLDINGS INC.UNAUDITED FLEET COUNTS Owned Total September 30, 2026 FSV 20 20 PSV 15 15 Liftboats 3 3 38 38 December 31, 2025 FSV 21 21 PSV 18 18 Liftboats 5 5 44 44 This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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