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Sep 30, 2022
SEACOR Marine Q3 2022 Earnings Report
Announced third quarter 2022 results.
Key Takeaways
SEACOR Marine's consolidated operating revenues for the third quarter of 2022 were $59.8 million, operating loss was $10.9 million, and direct vessel profit (“DVP”) was $15.8 million. Average utilization rates of 79%, the highest since the fourth quarter of 2013. The company completed the sale of its joint ventures in Mexico for gross cash proceeds of $66.0 million and refinancing transactions extending the maturity of their main senior secured credit facility from the third quarter of 2023 to the first quarter of 2026.
Completion of the sale of our joint ventures in Mexico for gross cash proceeds of $66.0 million.
Completion of refinancing transactions extending the maturity of our main senior secured credit facility from the third quarter of 2023 to the first quarter of 2026.
Average utilization rates of 79%, the highest since the fourth quarter of 2013, an 11% improvement from the third quarter of 2021, and a 3% improvement from the second quarter of 2022.
37% improvement in revenues from the third quarter of 2021 and an 11% improvement from the second quarter of 2022.
Revenue by Geographic Location
Forward Guidance
No specific forward guidance was provided in the press release.
Revenue & Expenses
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