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SEACOR Marine (SMHI) investor relations material
SEACOR Marine Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue was $57,251k vs $59,194k; net loss was $9,464k vs net income of $8,994k, with Q3 2025 including $30,230k in asset-sale gains.
Fleet-wide day rate and utilization improved YoY; Africa and Europe strengthened while Middle East and Asia posted a direct vessel loss.
Excluding vessels sold during or after Q3 2025, revenue rose 25.6% YoY and 6.2% QoQ; DVP rose 110.9% YoY and 120.8% QoQ.
Financial highlights
Q3 operating revenue was $57,251k vs $59,194k; operating expenses were $58,642k vs $71,358k, and operating loss was $1,395k vs income of $18,066k.
Q3 DVP was $18.9M vs $11.5M YoY and $7.9M QoQ; DVP margin was 33.1% vs 19.4% YoY and 14.5% QoQ.
Q3 included a $4.6M insurance claim settlement gain; asset disposition and impairment gains were $4K vs $30.2M in Q3 2025.
9M operating revenue was $156,163k vs $175,503k; operating expenses were $186,760k vs $211,825k, and operating income was $8,194k vs $18,880k.
9M asset-sale gains were $38,791k vs $55,202k; interest expense fell to $24,064k from $27,377k, primarily due to lower debt outstanding.
Outlook and guidance
Two new PSVs are expected to be delivered in Q4 2026 and Q1 2027; management expressed confidence in their charter prospects.
Cash on hand, operating cash flows, asset-sale proceeds and capital-market access, including $25.0M of remaining ATM capacity, were expected to meet obligations.
Priorities include operational execution and improving term coverage in less volatile markets.
- Returned to profitability in Q2 2026, driven by vessel sales, cost reductions, and strategic review.SMHI
Q2 2026 - Q1 2026 revenue fell 20% with a $15.8M net loss; asset sales and liquidity remain strong.SMHI
Q1 2026 - Board recommends approval of all proposals, with enhanced ESG and executive pay practices.SMHI
Proxy filing - FY 2025 revenue fell 16% to $227.8M, but asset sales and backlog support future growth.SMHI
Q4 2025 - Marine services firm launches $200M shelf and $25M at-the-market equity program.SMHI
Registration Filing - Shareholders will vote on directors, a new equity plan, executive pay, and auditor ratification.SMHI
Proxy Filing - Q3 2025 returned to profit on asset sale gains and strategic redeployment, despite lower revenues.SMHI
Q3 2025 - Narrowed net loss, improved liquidity, and ongoing fleet repositioning amid market volatility.SMHI
Q2 2025 - FY 2024 saw higher day rates but lower utilization, leading to a $78.1M net loss.SMHI
Q4 2024
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Next SEACOR Marine earnings date
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