SEACOR Marine Q1 net loss $23.1M ($0.84/sh); revenue up 2.6% but DVP down 35%

SEACOR Marine Holdings Inc.

2024-Q1 EPS reported -$0.84 revenue$62,770,000

Q1 2024 revenue $62.8M (+2.6% YoY); operating loss $10.6M vs income $0.2M in Q1 2023.
Net loss $23.1M ($0.84 per share) vs net loss $9.6M ($0.36) in Q1 2023.
Direct vessel profit $14.7M (23.4% margin), down from $22.7M (37.1%) YoY; $8.5M drydocking expense.
Average day rates $19,042, up 33% YoY and 5.6% sequentially.
CEO cites lower seasonal utilization, US permitting delays, offshore wind delays; expects improved utilization in Q2.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SEACOR Marine Holdings Inc. reported first quarter ended March 31, 2024 results: revenue $62.8 million, net income $23.1 million ($0.84 loss per basic and diluted share), EPS ($0.84) per basic and diluted share.

Period: first quarter ended March 31, 2024
Revenue: $62.8 million
Net income: $23.1 million ($0.84 loss per basic and diluted share)
EPS: ($0.84) per basic and diluted share
Result: reported results

Exact text from the filing

facilities worldwide, today announced results for its first quarter ended March 31, 2024. SEACOR Marine’s consolidated operating revenues for the first quarter of 2024 were $62.8 million, operating loss was $10.6 million, and direct vessel profit (“DVP”) (1) was $14.7 million. This compares to consolidated operating revenues of $61.2 million, operating income of

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Source: SEC EDGAR

accession 0000950170-24-051295

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