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Sep 30, 2025
SEACOR Marine Q3 2025 Earnings Report
SEACOR Marine reported a decrease in revenues and utilization, but an increase in net income and operating income for the third quarter of 2025.
Key Takeaways
SEACOR Marine experienced a decline in consolidated operating revenues and fleet utilization in Q3 2025 compared to the previous year and quarter. However, the company reported a significant increase in net income and operating income, largely driven by a substantial gain from asset dispositions, specifically the sale of two liftboats.
Consolidated operating revenues for Q3 2025 were $59.2 million, a 14.1% decrease from Q3 2024.
Net income for Q3 2025 was $9.0 million ($0.35 EPS), a significant improvement from a net loss of $16.3 million in Q3 2024.
The company completed the sale of two 335’ class liftboats for $76.0 million, resulting in a gain of $30.5 million.
Average day rates increased by 3.2% from Q3 2024 to $19,490, despite a decrease in overall fleet utilization to 66%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
SEACOR Marine is strategically shifting away from high volatility markets, streamlining its cost structure, and utilizing improved liquidity to fund newbuild programs and explore consolidation opportunities.
Positive Outlook
- Successful sale of two 335’ class liftboats demonstrates fleet value and improves liquidity.
- Average rates held steady despite market challenges, indicating pricing power in certain segments.
- Fast supply vessel (FSV) fleet saw improved utilization and dayrate performance, with reactivated vessels redeployed internationally.
- Awarded multi-year contracts in Brazil for two large hybrid-powered PSVs, reducing North Sea presence and securing future revenue.
- Improved liquidity profile will fund newbuild PSV program and position for future offshore market developments.
Challenges Ahead
- Lower revenues driven by lower utilization in the premium liftboat fleet.
- Soft market conditions in the North Sea negatively impacted results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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