AI-extracted from the 10-Q filed 2026-07-29 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
SEACOR Marine reported Q2 net income of $3.3M on revenue of $54.6M, boosted by $31.3M in vessel sale gains, while announcing a strategic review to maximize shareholder value.
Biggest Revenue Drivers
Time charter$49.7M-14% YoY
Lower fleet available days due to net vessel dispositions partially offset by improved utilization and rates in Africa and Europe.
Other marine services$4.1M+78% YoY
Higher mobilization revenues and recharges of certain insurance and labor costs associated with current Iran conflict.
Biggest Revenue Drivers
Total revenue: $54.6M-10% YoY
Time charter$49.7M-14% YoY
Lower fleet available days due to net vessel dispositions partially offset by improved utilization and rates in Africa and Europe.
Other marine services$4.1M+78% YoY
Higher mobilization revenues and recharges of certain insurance and labor costs associated with current Iran conflict.
Bareboat charter$0.8M-1% YoY
Minimal change from prior year.
Largest Expense Items
Operating expenses$46.7M-6% YoY
Lower personnel costs from workforce reduction and reduced fleet following vessel dispositions, partially offset by repositioning costs.
Depreciation and amortization$10.7M-11% YoY
Lower due to net fleet changes from vessel sales and retirements.
Administrative and general$12.3M+3% YoY
Higher professional fees offset by decreases in wages and benefits from cost reduction measures.
Margins: Operating margin improved to 29% in Q2 2026 from 10% in Q2 2025, primarily driven by $31.3M in asset sale gains. Excluding gains, direct vessel profit of $7.9M reflects operational pressure in Middle East and Asia offset by strong Africa and Europe performance at 32% margin.
Watch Items from the Filing
Middle East and Asia segment posted negative direct vessel profit of $4.4M in Q2 2026 vs. $1.3M loss in Q2 2025, driven by lower utilization (60% vs. 73%) and day rates ($15,588 vs. $15,506), representing 38% of six-month period loss.
Company announced strategic review on July 29, 2026, evaluating potential sale, merger, or asset sales to maximize shareholder value; no timetable set and no assurance of transaction outcome.
Fleet reduced from 44 to 38 vessels year-to-date; five asset sales generated $57.5M proceeds with $38.8M gains, but these gains mask underlying operating challenges in key regions.
Brazil subsidiary facing R$31.4M ($6.1M USD equivalent) potential tax levy from 2011-2012 period; administrative appeal pending with uncertain outcome, may require judicial proceedings.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Young Lisa PReporting ownerGrant or award · Jun 2, 2026
Miguel Bejos AlfredoReporting ownerGrant or award · Jun 2, 2026
Morse Andrew RReporting ownerGrant or award · Jun 2, 2026
Regan Robert ChristopherReporting ownerGrant or award · Jun 2, 2026
Persily JulieReporting ownerGrant or award · Jun 2, 2026
Gellert John MPresident and CEOShares withheld for tax or exercise price · Mar 7, 2026
About SEACOR Marine Holdings Inc. (SMHI): stock profile, AI score and financials
SEACOR Marine Holdings Inc. (SMHI) stock profile, AI quality score, and SEC EDGAR financial data, a Industrials sector company. 13F Pro's AI-powered ranking engine scores SMHI at 21.0/100 on a composite quality score built from its SEC filings, placing it at rank #2,739 of 2,925 stocks — the bottom half of the AI-ranked universe. Areas of concern include earnings quality (0.9) and revenue growth (6.2), which score below median versus the broader universe. Shareholder dilution risk is elevated at 33.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), SEACOR Marine Holdings Inc. reports quarterly revenue of $54.6M, net income of $3.3M, an operating margin of 29.2%. SMHI trades on the NYSE exchange and files with the SEC under CIK 1690334. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SMHI daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for SEACOR Marine Holdings Inc. directly from SEC EDGAR.