SEACOR Marine Q1 revenue falls on vessel sales, lower utilization

SEACOR Marine Holdings

29/04/2026 22:31

Overview

Offshore marine transporter's Q1 revenue fell 20% yr/yr on vessel sales and lower utilization

Company posted Q1 net loss of $15.8 mln, slightly wider than prior year

SEACOR Marine completed sale of one platform supply vessel for total proceeds of $14.6 million

Outlook

Company expects fleet utilization to normalize after vessel repositioning and asset sales in Q2 2026

SEACOR Marine does not expect its two premium liftboats in the Middle East to work in Q2 2026

Company anticipates increased offshore activity in South America and West Africa amid energy security trends

Result Drivers

FEWER AVAILABLE VESSEL DAYS - Co said lower revenue was driven by fewer available days following vessel sales and vessels repositioning or waiting to start contracts

LOWER UTILIZATION - Utilization fell as two premium liftboats remained under repair and uncontracted, impacting results

HIGHER DAY RATES IN SOME REGIONS - Average day rates improved sequentially, mainly due to new term contracts for PSVs in Brazil and the North Sea

Company press release: ID:nGNX9mMQ5H

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Operating Revenue
$44.30 mln
$49.30 mln (1 Analyst)
Q1 Net Loss
$15.80 mln
Q1 Operating Loss
$6.40 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas transportation services peer group is "buy"

Wall Street's median 12-month price target for SEACOR Marine Holdings Inc is $11.00, about 47.5% above its April 29 closing price of $7.46

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)