SEACOR Marine Holdings Inc.
- Open
- 9.66
- Day high
- 9.66
- Day low
- 9.35
- Prev close
- 9.41
- Volume
- 113K
- Mkt cap
- $259M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.0
- P/S
- 1.2
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$2.6M over the last 3 months (0 open-market buys, 29 sales)
- 🏛Institutions reducing (13F)
SEACOR Marine Holdings Inc. (SMHI) is a Industrials company listed on NYSE. The stock is up 40% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 29 sales (SEC Form 4).
SEACOR Marine Holdings Inc. (SMHI) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SMHI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 29, 2026 | $-1.24 | $0.12 | +109.7% | $55M | +19.2% |
| Apr 29, 2026 | $-0.92 | $-0.61 | +33.7% | $44M | -9.9% |
| Feb 25, 2026 | $-0.65 | $-0.56 | +14.2% | $52M | -6.7% |
| Oct 29, 2025 | $-0.59 | $0.17 | +128.8% | $59M | +5.5% |
| Jul 30, 2025 | $-0.27 | $-0.26 | +3.7% | $61M | -9.3% |
| Apr 30, 2025 | $-0.57 | $-0.56 | +1.8% | $55M | -14.7% |
| Feb 26, 2025 | $-0.67 | $-0.03 | +95.5% | $70M | +5.1% |
| Oct 30, 2024 | $-0.67 | $-0.59 | +11.9% | $69M | +3.3% |
| Jul 31, 2024 | $-0.16 | $-0.45 | -181.3% | $70M | +1.4% |
| May 1, 2024 | $-0.43 | $-0.84 | -95.3% | $63M | -2.0% |
| Feb 29, 2024 | $-0.49 | $0.20 | +140.8% | $77M | +20.4% |
| Nov 1, 2023 | — | $-0.03 | — | $76M | +17.7% |
SMHI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 25, 2026 | Llorca Jesusofficer: EVP & CFO | Option | 200 | $4.39 |
| Aug 25, 2026 | Everett Andrew H IIofficer: Sr. VP, General Counsel & Secy | Sell | 200 | $10.00 |
| Aug 25, 2026 | Llorca Jesusofficer: EVP & CFO | Sell | 401 | $10.00 |
| Aug 19, 2026 | Llorca Jesusofficer: EVP & CFO | Sell | 3,207 | $9.85 |
| Aug 14, 2026 | Llorca Jesusofficer: EVP & CFO | Sell | 2,840 | $9.76 |
| Aug 14, 2026 | Llorca Jesusofficer: EVP & CFO | Sell | 5,927 | $9.78 |
| Aug 14, 2026 | Llorca Jesusofficer: EVP & CFO | Sell | 1,503 | $9.75 |
| Aug 11, 2026 | Llorca Jesusofficer: EVP & CFO | Sell | 13,054 | $9.79 |
| Aug 11, 2026 | Llorca Jesusofficer: EVP & CFO | Sell | 205 | $9.75 |
| Aug 4, 2026 | Everett Andrew H IIofficer: Sr. VP, General Counsel & Secy | Sell | 1,018 | $9.56 |
| Aug 4, 2026 | Everett Andrew H IIofficer: Sr. VP, General Counsel & Secy | Sell | 5,113 | $9.52 |
| Jul 31, 2026 | Everett Andrew H IIofficer: Sr. VP, General Counsel & Secy | Sell | 45,892 | $9.00 |
| Jul 31, 2026 | Everett Andrew H IIofficer: Sr. VP, General Counsel & Secy | Sell | 17,232 | $9.51 |
| Jul 31, 2026 | Rossmiller Gregory Scottofficer: SVP & CAO | Sell | 15,000 | $9.52 |
| Jul 31, 2026 | Llorca Jesusofficer: EVP & CFO | Sell | 60,823 | $9.12 |
Source: SMHI SEC Form 4 filings, latest Aug 25, 2026. For informational purposes only — not investment advice.
See the full SMHI insider & 13F page →SEACOR Marine Holdings Inc. company profile
Overview
SEACOR Marine Holdings Inc. (NYSE:SMHI) is a Houston-based marine transportation company founded in 1989 that provides specialized vessel services to the offshore energy industry. The company went public in June 2017 and operates a fleet of offshore support vessels that serve oil and gas exploration and production companies, as well as offshore wind farm developers worldwide. SEACOR Marine has faced significant financial challenges in recent years, reporting consistent losses while navigating a cyclical downturn in offshore drilling activity and transitioning toward renewable energy opportunities.
Business
SEACOR Marine operates in the offshore support vessel (OSV) industry, which provides critical marine transportation and logistics services to offshore energy installations. The company's core business revolves around operating specialized vessels that support offshore oil and gas drilling operations, as well as emerging offshore wind farm developments. The company's fleet consists of various types of vessels designed for specific offshore functions. Platform supply vessels (PSVs) transport cargo, equipment, and personnel between shore bases and offshore drilling rigs or production platforms. Anchor handling tug supply vessels (AHTS) are more powerful vessels that handle the heavy anchoring systems used to position drilling rigs and assist in moving rigs between locations. The company also operates crew boats for personnel transportation and specialty vessels for construction support, maintenance work, and emergency response services. As of December 2021, SEACOR Marine operated 81 vessels through different ownership structures: 60 were owned or leased directly by the company, 20 were operated through joint ventures with other parties, and 1 was managed on behalf of third-party owners. This mixed ownership model allows the company to expand its operational capacity while sharing capital investment and operational risks with partners. The offshore support vessel industry serves as a critical link in the offshore energy supply chain. When oil and gas companies drill wells in deep water locations that can be hundreds of miles from shore, they require constant logistical support to transport everything from drilling equipment and fuel to food and personnel. Similarly, offshore wind farms require specialized vessels during construction, installation, and ongoing maintenance phases.
Revenue model
SEACOR Marine generates revenue primarily through vessel charter contracts with energy companies. The company operates under various contract structures, including short-term spot charters that can last days or weeks, and longer-term contracts that may extend for months or years. Charter rates are typically quoted on a daily basis and vary significantly based on vessel type, market conditions, and contract duration. The company's customers include integrated oil companies like ExxonMobil and Shell, independent exploration and production companies, and increasingly, offshore wind farm developers and installation contractors. Payment comes directly from these energy companies who charter the vessels to support their offshore operations. Several factors significantly impact SEACOR Marine's profitability and margins. Oil and gas prices represent the primary external driver, as higher commodity prices generally lead to increased offshore drilling activity and higher demand for support vessels. Offshore drilling rig utilization rates directly correlate with OSV demand, as each active rig requires multiple support vessels. The company's margins are also affected by fuel costs, which represent a significant operating expense, and crew costs, as vessels require specialized maritime personnel. The cyclical nature of the offshore energy industry creates significant volatility in charter rates and vessel utilization. During industry downturns, excess vessel capacity can drive charter rates below operating costs, while supply shortages during boom periods can result in premium pricing. The company's ability to secure longer-term contracts helps provide some revenue stability, but the majority of the industry operates on shorter-term arrangements that fluctuate with market conditions. Competition from other vessel operators affects pricing power, while regulatory changes and environmental requirements can impact operating costs. The ongoing energy transition toward renewable sources presents both challenges, as it may reduce long-term oil and gas demand, and opportunities, as offshore wind development requires similar vessel support services.
Competitive moat
SEACOR Marine operates in a highly competitive industry with limited sustainable competitive advantages. The company's primary defensive characteristics stem from the specialized nature of offshore support vessels and the high barriers to entry for new vessel construction, which requires significant capital investment and maritime expertise. The company's fleet of purpose-built vessels represents a form of specialized infrastructure that cannot be easily replicated by companies outside the maritime industry. However, this advantage is weakened by the presence of numerous established competitors with similar vessel capabilities. The industry is characterized by excess capacity in many vessel segments, which limits pricing power and makes it difficult for any single operator to maintain premium rates. SEACOR Marine's relationships with major energy companies provide some stability, but these relationships are primarily transactional rather than strategic partnerships. Customers typically charter vessels based on availability, pricing, and technical specifications rather than long-term loyalty to specific operators. The company faces significant competitive pressure from larger, better-capitalized marine service companies such as Tidewater Inc. and Hornbeck Offshore Services. These competitors often have more diverse fleets, stronger balance sheets, and greater geographic reach. Additionally, the industry's cyclical nature means that during downturns, even well-positioned companies struggle to maintain profitability. The transition toward offshore renewable energy presents both an opportunity and a threat. While offshore wind development requires similar vessel services, this emerging market attracts new entrants and may require different vessel specifications than traditional oil and gas support. SEACOR Marine's ability to adapt its fleet and operations to serve renewable energy customers will be crucial for long-term competitiveness. Overall, SEACOR Marine operates in a commoditized industry with weak moats, making it vulnerable to pricing pressure and cyclical downturns.
Risks & safety
SEACOR Marine presents significant financial risks with limited margin of safety based on recent performance and balance sheet metrics. • Cash burn and solvency: The company reported negative free cash flow of $32.3 million in Q1 2025 and $17.6 million for full year 2024, indicating ongoing cash consumption. With $43.0 million in cash as of Q1 2025, the current burn rate raises concerns about liquidity sustainability. • Debt levels: Debt-to-equity ratio of 1.21 indicates high leverage, though the current ratio of 1.87 suggests adequate short-term liquidity coverage. • Profitability concerns: The company has reported net losses in recent periods, with a $78.1 million loss for 2024 and continued losses in Q1 2025, reflecting operational challenges in the current market environment. • Valuation metrics: Trading at 0.50x book value suggests potential asset value, but negative earnings make traditional valuation metrics less meaningful. The enterprise value to EBITDA ratio of 16.0x appears elevated given the company's financial struggles. • Asset base: Total assets of $694 million provide some downside protection, primarily consisting of the vessel fleet, though asset values in the OSV industry can be volatile and subject to impairment during market downturns.
Recent development
Based on the available financial data, SEACOR Marine has been navigating a challenging period in the offshore support vessel industry. The company's recent performance reflects the broader struggles facing the OSV sector, with declining charter rates and reduced offshore drilling activity impacting revenue and profitability. The company's revenue has shown some volatility, declining from $279.5 million in 2023 to $271.4 million in 2024, while quarterly revenues have fluctuated between $55.5 million and $69.9 million in recent periods. This revenue instability reflects the spot market nature of much of the OSV business and the cyclical challenges facing offshore energy development. SEACOR Marine has been working to manage its cost structure in response to market conditions, though the company continues to report operating losses. The negative EBITDA of $3.4 million in Q4 2024 compared to positive EBITDA of $86.7 million in 2023 demonstrates the significant impact of market deterioration on the company's operational performance. The company's strategic focus appears to be on maintaining its vessel fleet while seeking opportunities in both traditional oil and gas markets and emerging offshore wind development. However, without access to recent earnings call transcripts, specific details about new strategic initiatives, fleet optimization efforts, or market positioning strategies are not available from the provided financial data. The company's cash management has become increasingly critical, with management likely focused on preserving liquidity while waiting for market conditions to improve. The mixed ownership structure of the fleet, including joint ventures and managed vessels, may provide some operational flexibility during challenging market periods.
SMHI company profile · for informational purposes only — not investment advice.
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