SMHI News & Events

Reports Q4 revenue $52.3M vs. $69.8M last year. CEO John Gellert commented: "Q4 results reflect lower revenues driven primarily by fewer available days following the sales of two 335' liftboats at the end of Q3 2025 and one of our 201' PSVs during Q4 2025, and lower utilization for our liftboat fleet due to seasonality and changes in scope of work by one of our international liftboat customers...Following the end of Q4, our two premium liftboats in the Middle East concluded their contracts and were repositioned to undergo scheduled maintenance and drydocking as well as previously deferred repairs. We do not expect these liftboats to work during Q1 2026...we have streamlined our cost structure to reflect some of the recent asset sales, most notably the sale of the two 335' liftboats. During Q4 2025 we incurred one-time charges of $1.2M related to severance expenses and expect annualized savings of $3.9M in SG&A expenses from these initiatives. Our core markets outside the United States remain constructive over the long term, with increasing optimism around a number of drilling campaigns starting in the second half of 2026. An improving geopolitical outlook in certain markets could further improve demand for offshore services and we will evaluate those opportunities as they arise."

Seacor Marine announced that it has entered into definitive agreements for the sale of two 335 foot class liftboats to JAD Construction Limited for total gross proceeds of $76M in cash and an estimated gain of $30.5M. The net proceeds from the sales of these vessels are unencumbered and the transaction is expected to close during the third quarter of 2025, subject to customary closing conditions and regulatory approvals.

Seacor Marine is up 17.3%, or 68c to $4.62.