SEACOR Marine's consolidated operating revenues from continuing operations for the third quarter of 2021 were $43.7 million, operating loss was $14.3 million, and direct vessel profit was $10.2 million.
The Company’s laid-up fleet is down to 7 vessels compared to 20 in the third quarter of 2020.
The Company repositioned 4 vessels between regions for new contracts, including the reactivation of 2 vessels.
Increased utilization levels and moderate rate improvements were offset by higher out-of-service time and delays caused by Hurricane Ida in the U.S. Gulf of Mexico, as well as the early termination of a contract for one of our liftboats in Europe.
Positive contributions of $14.0 million from our 50% or less owned companies, primarily due to cash distributions from the sale of the Company’s Brazilian joint venture, UP Offshore, in the second quarter of 2021.
Analyze how earnings announcements historically affect stock price performance