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Jun 30, 2020
SEACOR Marine Q2 2020 Earnings Report
Announced second quarter 2020 results.
Key Takeaways
SEACOR Marine reported operating revenues of $41.9 million, an operating loss of $16.7 million, and a net loss attributable to SEACOR Marine of $6.1 million ($0.24 loss per basic and diluted share).
Acquired the remaining 50% of the equity interests in SEACOSCO Offshore LLC.
Entered into an agreement with SEACOR Holdings Inc. permitting SEACOR Marine to carry back net operating losses under provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”).
Average dayrates, excluding those for the crew transfer vessel fleet, were $11,018 in the second quarter of 2020.
Administrative and general expenses in the second quarter were $14.5 million, including $3.7 million in non-recurring expenses.
Forward Guidance
SEACOR Marine expects volatility in oil prices and the impact of COVID-19 to continue at least for the remainder of this year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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