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Dec 31, 2019
SEACOR Marine Q4 2019 Earnings Report
Announced fourth quarter 2019 results, excluding the standby safety operations which are classified as discontinued operations.
Key Takeaways
SEACOR Marine reported Q4 2019 results, with total operating revenues of $49.1 million and an operating loss of $10.5 million. The company completed the sale of the North Sea Standby Safety business and eight additional vessels, generating significant cash proceeds. Cost reduction initiatives resulted in $2.9 million in annualized recurring administrative and general savings.
Average dayrates, excluding those for the CTV fleet, increased to $11,071 from $10,946 in the third quarter of 2019.
Net cash provided by operating activities increased to $9.7 million from $0.9 million in the third quarter of 2019.
The sale of the North Sea Standby Safety business was completed on December 2, 2019, generating net proceeds of $27.4 million.
The sale of eight additional vessels was completed during the fourth quarter for total aggregate net proceeds of $38.9 million, of which $32.6 million was cash.
Revenue by Geographic Location
Forward Guidance
SEACOR Marine continues to closely monitor the impact of COVID-19 on the market, accelerating pandemic-related training drills and ensuring active communication to respond to challenges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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