SEACOR Marine (NYSE:SMHI) Posts Quarterly Earnings Results, Beats Expectations By $0.25 EPS

Key Points

• SEACOR Marine beat quarterly expectations: The company reported an adjusted EPS loss of $0.36, $0.25 better than the expected $0.61 loss, while revenue of $57.25 million exceeded estimates of $52.99 million.
• Despite the earnings beat, SEACOR Marine remained unprofitable, posting a negative net margin of 8.62% and negative return on equity of 8.72%.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and a $10 average price target; insiders sold nearly 195,000 shares worth about $1.81 million over the past 90 days.

SEACOR Marine (NYSE:SMHI - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.61) by $0.25, FiscalAI reports. SEACOR Marine had a negative net margin of 8.62% and a negative return on equity of 8.72%. The company had revenue of $57.25 million during the quarter, compared to analysts' expectations of $52.99 million.

SEACOR Marine Price Performance

Shares of NYSE:SMHI traded up $0.10 on Wednesday, reaching $8.94. The company's stock had a trading volume of 124,522 shares, compared to its average volume of 113,740. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.35 and a current ratio of 2.38. SEACOR Marine has a 52-week low of $5.75 and a 52-week high of $10.00. The company has a 50-day simple moving average of $9.05 and a 200 day simple moving average of $7.92. The company has a market cap of $242.54 million, a P/E ratio of -12.59 and a beta of 1.16.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of SEACOR Marine in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, SEACOR Marine presently has a consensus rating of "Hold" and an average target price of $10.00.

Insider Activity

In related news, CAO Gregory Rossmiller sold 27,741 shares of SEACOR Marine stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $9.16, for a total transaction of $254,107.56. Following the completion of the transaction, the chief accounting officer directly owned 244,506 shares of the company's stock, valued at approximately $2,239,674.96. The trade was a 10.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jesús Llorca sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $10.00, for a total value of $40,000.00. Following the transaction, the chief financial officer owned 382,981 shares of the company's stock, valued at $3,829,810. This trade represents a 1.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 194,909 shares of company stock valued at $1,808,687 in the last ninety days. Insiders own 16.80% of the company's stock.

About SEACOR Marine

SEACOR Marine Holdings Inc is an offshore marine transportation and support services company that serves the energy and offshore infrastructure industries. The company owns and operates a fleet of offshore support vessels designed to transport personnel, equipment and supplies between shore bases and offshore facilities.

Its services support offshore oil and gas exploration, development, production and maintenance activities. SEACOR Marine also provides marine support for offshore wind and other offshore construction and infrastructure projects, with capabilities that include crew transportation, logistics, platform supply and other specialized vessel operations.

The company was established as an independent publicly traded business in 2017 following its separation from SEACOR Holdings Inc SEACOR Marine operates in several international offshore markets, including the Gulf of Mexico and selected regions in the North Sea, West Africa, Southeast Asia and the Middle East.

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