SMHI

EX-99.1

2 smhi-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

PRESS RELEASE

SEACOR MARINE ANNOUNCES THIRD QUARTER 2026 RESULTS

Houston, Texas

October 28, 2026

FOR IMMEDIATE RELEASE - SEACOR Marine Holdings Inc. (NYSE: SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore energy facilities worldwide, today announced results for its third quarter ended September 30, 2026.

Third Quarter 2026 Results

SEACOR Marine’s consolidated operating revenues for the third quarter of 2026 were $57.3 million, operating loss was $1.4 million, and direct vessel profit (“DVP”)(1) was $18.9 million. This compares to consolidated operating revenues of $59.2 million, operating income of $18.1 million, and DVP of $11.5 million in the third quarter of 2025, and consolidated operating revenues of $54.6 million, operating income of $16.0 million, and DVP of $7.9 million in the second quarter of 2026.

Notable third quarter items include:

• Average day rates of $21,100, compared to $19,490 in the third quarter of 2025 and $20,227 in the second quarter of 2026.

• 71% utilization, compared to 66% in the third quarter of 2025 and 68% in the second quarter of 2026.

• DVP margin of 33.1%, compared to 19.4% in the third quarter of 2025 and 14.5% in the second quarter of 2026.

• 3.3% decrease in revenues from the third quarter of 2025 and 4.8% increase from the second quarter of 2026.

• Operating performance improved significantly; adjusting for all vessels sold during or after the third quarter of 2025, revenues increased by 25.6% from the third quarter of 2025 and 6.2% from the second quarter of 2026, and DVP increased by 110.9% from the third quarter of 2025 and 120.8% from the second quarter of 2026.

For the third quarter of 2026, net loss was $9.5 million ($0.36 loss per basic and diluted share). This compares to a net income for the third quarter of 2025 of $9.0 million ($0.35 earnings per basic and diluted share). Sequentially, the third quarter of 2026 results compare to a net income of $3.3 million ($0.13 earnings per basic share and $0.12 earnings per diluted share) in the second quarter of 2026.

Chief Executive Officer John Gellert commented:

“Our third quarter results reflect improved utilization, day rates and margins led by the performance of our platform supply vessel (“PSV”) fleet. These positive trends were partially offset by the ongoing maintenance for our two premium liftboats and lower utilization in our fast support vessel (“FSV”) fleet, especially in the Middle East. This reflects a softening market in the Middle East primarily due to delays in both construction and drilling projects in the region as a result of current operating conditions.

We look forward to taking delivery of our two newbuild PSVs in the coming months and remain confident in their charter prospects. We remain focused on operational execution and continue to implement our strategy of improving term coverage in less volatile markets.”

Separately, as previously announced on July 29, 2026, SEACOR Marine’s Board is continuing with its evaluation of strategic alternatives to maximize shareholder value with the assistance of independent financial advisors. The Board and management team remain fully committed to acting in the best interests of the Company and its stakeholders throughout this evaluation process. There can be no assurance that the strategic review process will result in any transaction or other strategic outcome. The Company has not established a timetable for completion of the review process and does not intend to disclose developments related to the review unless and until SEACOR Marine executes a definitive agreement with respect thereto, or the Board otherwise determines that further disclosure is appropriate or required.

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(1)

Direct vessel profit (defined as operating revenues less operating costs and expenses, “DVP”) is the Company’s measure of segment profitability. DVP is a critical financial measure used by the Company to analyze and compare the operating performance of its regions, without regard to financing decisions (depreciation and interest expense for owned vessels vs. lease expense for lease vessels). DVP is also useful when comparing the Company’s global fleet performance against those of our competitors who may have differing fleet financing structures. DVP has material limitations as an analytical tool in that it does not reflect all of the costs associated with the ownership and operation of our fleet, and it should not be considered in isolation or used as a substitute for our results as reported under GAAP. See page 4 for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure.

* * * * *

SEACOR Marine provides global marine and support transportation services to offshore energy facilities worldwide. SEACOR Marine operates and manages a diverse fleet of offshore support vessels that deli

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

PRESS RELEASE

SEACOR MARINE ANNOUNCES SECOND QUARTER 2026 RESULTS AND STRATEGIC ALTERNATIVES REVIEW

Houston, Texas

July 29, 2026

FOR IMMEDIATE RELEASE - SEACOR Marine Holdings Inc. (NYSE: SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore energy facilities worldwide, today announced results for its second quarter ended June 30, 2026, and separately announced that its Board of Directors (the “Board”) is evaluating potential strategic alternatives to maximize shareholder value.

Second Quarter 2026 Results

SEACOR Marine’s consolidated operating revenues for the second quarter of 2026 were $54.6 million, operating income was $16.0 million, and direct vessel profit (“DVP”)(1) was $7.9 million. This compares to consolidated operating revenues of $60.8 million, operating income of $6.1 million, and DVP of $11.3 million in the second quarter of 2025, and consolidated operating revenues of $44.3 million, operating loss of $6.4 million, and DVP of $6.7 million in the first quarter of 2026.

Notable second quarter items include:

• 10.2% decrease in revenues from the second quarter of 2025 and 23.4% increase from the first quarter of 2026.

• Average day rates of $20,227, compared to $19,731 in the second quarter of 2025 and $18,199 in the first quarter of 2026.

• 68% utilization, compared to 68% in the second quarter of 2025 and 59% in the first quarter of 2026.

• DVP margin of 14.5%, compared to 18.6% in the second quarter of 2025 and 15.2% in the first quarter of 2026.

• During the second quarter of 2026, the Company completed the sale of five vessels and other equipment for net cash proceeds of $44.7 million and after transaction costs, recognized gains of $31.3 million.

• During the quarter, administrative and general costs increased due to professional fees associated with the termination of certain prior engagements; excluding this one-time charge, the Company’s administrative and general costs were $9.3 million for the second quarter of 2026, compared to $12.0 million for the second quarter of 2025 and $10.0 million for the first quarter of 2026.

For the second quarter of 2026, net income was $3.3 million ($0.13 earnings per basic share and $0.12 earnings per diluted share). This compares to a net loss for the second quarter of 2025 of $6.7 million ($0.26 loss per basic and diluted share). Sequentially, the second quarter of 2026 results compare to a net loss of $15.8 million ($0.61 loss per basic and diluted share) in the first quarter of 2026.

Chief Executive Officer John Gellert commented:

“Our second quarter results reflect improved utilization following vessel repositioning and contract commencements. During the quarter, we completed the sale of five vessels as part of our fleet optimization strategy and continued to focus on maximizing fleet efficiency and positioning the business to benefit from improving offshore activity in several of our core international markets.

With regards to the Middle East, the Company continued to observe increased labor and insurance costs in the region because of the conflict, and a general softening in offshore activity while customers wait for operating conditions to improve. The maintenance scope of work for our two premium liftboats in the region continues. Based on observed delays due primarily to the ongoing conflict, we do not expect either of these vessels to operate during the third quarter of 2026. At the end of the second quarter, excluding the two liftboats, we had eight vessels in the region, of which six have continued to operate for our customers in Saudi Arabia and Qatar. The timing of a full recovery in this region will depend on a durable resolution to the conflict.

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Looking ahead, we remain constructive on opportunities across several of our international markets while maintaining a disciplined approach to operational execution. We believe SEACOR Marine is well positioned to continue supporting our customers and participating in incremental demand from offshore energy projects.”

Strategic Review Process

Separately, SEACOR Marine today announced that its Board is evaluating potential strategic alternatives to maximize shareholder value.

During the review process, the Board expects to evaluate a range of strategic alternatives that may include a sale of the Company, merger, other business combinations, sale of assets, or other transactions aimed at maximizing value for shareholders. The Board has retained independent financial advisors to assist in evaluating strategic alternatives. The Board and management team remain fully committed to acting in the best interests of the Company and its stakeholders throughout this evaluation process.

Andrew R. Morse, Non-Executive Chairman of the Board, commented:

“Over the past several years, the Company has worked diligently to optimize its fleet, strengthen its balance she

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

PRESS RELEASE

SEACOR MARINE ANNOUNCES FIRST QUARTER 2026 RESULTS

Houston, Texas

April 29, 2026

FOR IMMEDIATE RELEASE - SEACOR Marine Holdings Inc. (NYSE: SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore energy facilities worldwide, today announced results for its first quarter ended March 31, 2026.

SEACOR Marine’s consolidated operating revenues for the first quarter of 2026 were $44.3 million, operating loss was $6.4 million, and direct vessel profit (“DVP”)(1) was $6.7 million. This compares to consolidated operating revenues of $55.5 million, operating loss of $5.3 million, and DVP of $13.6 million in the first quarter of 2025, and consolidated operating revenues of $52.3 million, operating loss of $5.2 million, and DVP of $9.7 million in the fourth quarter of 2025.

Notable first quarter items include:

• 20.2% decrease in revenues from the first quarter of 2025 and a 15.4% decrease from the fourth quarter of 2025.

• Average day rates of $18,199, a 3.3% decrease from the first quarter of 2025, and a 3.9% increase from the fourth quarter of 2025.

• 59% utilization, a decrease from 60% in the first quarter of 2025 and a decrease from 69% in the fourth quarter of 2025.

• DVP margin of 15.2%, a decrease from 24.5% in the first quarter of 2025 and a decrease from 18.5% in the fourth quarter of 2025.

• During the first quarter of 2026, the Company completed the sale of one 201’ platform supply vessel (“PSV”) built in 2015 for total proceeds of $14.6 million and a gain of $7.3 million.

• At the end of the first quarter of 2026, the Company had an additional five vessels classified as held for sale. Two of these vessels were sold in April 2026, and the remaining three vessels are expected to be sold during the second quarter of 2026.

For the first quarter of 2026, net loss was $15.8 million ($0.61 loss per basic and diluted share). This compares to a net loss for the first quarter of 2025 of $15.5 million ($0.56 loss per basic and diluted share). Sequentially, the first quarter 2026 results compare to a net loss of $14.6 million ($0.57 earnings per basic and diluted share) in the fourth quarter of 2025.

Chief Executive Officer John Gellert commented:

“Our first quarter results reflect lower revenues driven by fewer available days following vessel sales in the last year, vessels repositioning or waiting to commence long term contracts during the quarter, and our two premium liftboats remaining under repair and uncontracted. Utilization should normalize at healthier levels once we have completed the repositioning of the fleet and have completed the sales of five vessels classified as held for sale during the second quarter of 2026.

The improvement in average day rates is driven by the commencement of several term contracts for PSVs during the first quarter in Brazil and the North Sea. Rates for fast supply vessels (“FSVs”) were stable during the quarter, even as we redeployed two FSVs previously laid up in the United States to international markets and we brought the last remaining FSV out of laid up status in preparation for international deployment in the second quarter.

Geographically, we continue to see progress in the Latin America and West Africa regions, with the fleet in these regions largely contracted following the end of the first quarter. In the United States, we continue to see low levels of activity in the markets we serve and have adjusted our fleet presence accordingly.

With regards to the Middle East, it is premature to evaluate the long-term impact of the conflict. In the short term, the conflict has increased labor and insurance costs in the region, and caused delays in our ability to conclude the maintenance scope of work for our

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two premium liftboats in the region. We do not expect either of these vessels to work during the second quarter of 2026. At the end of the first quarter, excluding the two liftboats, we had nine vessels in the region, of which seven have continued to operate for our customers in Saudi Arabia and Qatar, one vessel is held for sale, and one vessel was undergoing scheduled maintenance. I commend our crews and shore side personnel in the region for their dedication to maintaining safe, reliable operations in this environment.

Going forward, we are well positioned to participate in increased offshore drilling activities in South America and West Africa. In response to the conflict, energy security and diversification could drive additional investment into offshore projects, particularly deepwater, as well as work supporting customers restoring production capacity. SEACOR Marine is well positioned to continue to support our customers and participate in any incremental demand from offshore projects.”

(1)

Direct vessel profit (defined as operating revenues less operating costs and expenses, “DVP”) is the Co