SEACOR Marine Holdings Inc. reported a decline in financial performance for the second quarter of 2026, with operating revenues of $54.6 million, down from $60.8 million in the same period last year. For the first half of 2026, revenues totaled $98.9 million, compared to $116.3 million in the first half of 2025. The company recorded a net income of $3.3 million for the quarter, a significant improvement from a net loss of $6.7 million in the prior year. The earnings per share for the quarter were $0.13, compared to a loss of $0.26 per share in the same quarter of 2025.
The decrease in revenue was attributed to the sale of several vessels, which reduced the fleet size and operational capacity. SEACOR Marine sold three platform supply vessels, two liftboats, and one fast support vessel during the first half of 2026, generating net cash proceeds of $57.5 million and a gain of $38.8 million. The company’s total assets decreased to $633.3 million as of June 30, 2026, down from $660.6 million at the end of 2025, primarily due to the reduction in property and equipment following these sales.
Operationally, SEACOR Marine's fleet utilization remained stable at 68% for the second quarter of 2026, consistent with the same period in 2025. The average rates per day for time charters increased slightly to $20,227 from $19,731 year-over-year. The company continues to focus on cost reduction measures initiated in late 2025, which have resulted in savings of $2 million in wages and benefits expenses for the first half of 2026.
Looking ahead, SEACOR Marine is evaluating strategic alternatives to maximize shareholder value, including potential mergers or asset sales. The company has retained financial advisors to assist in this review process. Additionally, the company has $39.4 million in unfunded capital commitments, primarily related to the construction of two new platform supply vessels, which are expected to be delivered in late 2026 and early 2027. The company believes that its current cash reserves, along with cash flows from operations, will be sufficient to meet its liquidity needs and capital expenditures in the near term.
About SEACOR Marine Holdings Inc.
SEACOR Marine Holdings Inc. provides global offshore support vessel services for energy and wind farm industries. Its fleet includes platform supply vessels, fast support vessels, liftboats, and specialized vessels supporting exploration, construction, maintenance, and emergency response. Operating mainly in the U.S., Africa, Europe, Middle East, Asia, and Latin America, the company focuses on safety, environmental compliance, and serving major oil and wind energy customers with a flexible, technologically advanced fleet.
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