Loading...
•
Sep 30, 2020
SEACOR Marine Q3 2020 Earnings Report
Announced third quarter 2020 results
Key Takeaways
SEACOR Marine reported consolidated operating revenues of $45.7 million, an operating loss of $11.4 million, and direct vessel profit of $16.6 million for Q3 2020. The results were impacted by multiple hurricanes in the U.S. Gulf of Mexico, the COVID-19 pandemic, and volatility in oil prices.
Average dayrates, excluding those for the wind crew transfer vessel fleet, were $11,323 in the third quarter of 2020 compared to $10,946 in the third quarter of 2019.
Administrative and general expenses in the third quarter were $10.2 million, including a one-time restructuring charge of $0.25 million as a result of SEACOR Marine’s cost reduction initiative.
SEACOR Marine completed its Transformation Plan which resulted in the achievement of the previously announced target of $8.0 million in annual savings.
Net loss attributable to SEACOR Marine was $18.1 million ($0.72 loss per basic and diluted share) and operating loss was $11.4 million.
Revenue by Segment
Forward Guidance
SEACOR Marine expects volatility to continue for at least the remainder of this year and will continue to closely monitor the level of activity from its oil and gas customers and adjust its operations accordingly.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...