SEACOR Marine Announces Third Quarter 2025 Results

HOUSTON, Oct. 29, 2025 (GLOBE NEWSWIRE) -- SEACOR Marine Holdings Inc. (NYSE: SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore energy facilities worldwide, today announced results for its third quarter ended September 30, 2025. SEACOR Marine’s consolidated operating revenues for the third quarter of 2025 were $59.2 million, operating income was $18.1 million, and direct vessel profit (“DVP”)(1) was $11.5 million. This compares to consolidated operating revenues of $68.9 million, operating loss of $6.5 million, and DVP of $16.0 million in the third quarter of 2024, and consolidated operating revenues of $60.8 million, operating income of $6.1 million, and DVP of $11.3 million in the second quarter of 2025. Notable third quarter items include: 14.1% decrease in revenues from the third quarter of 2024 and a 2.7% decrease from the second quarter of 2025.Average day rates of $19,490, a 3.2% increase from the third quarter of 2024, and a 1.2% decrease from the second quarter of 2025.66% utilization, a decrease from 67% in the third quarter of 2024 and a decrease from 68% in the second quarter of 2025.DVP margin of 19.4%, a decrease from 23.2% in the third quarter of 2024 and an increase from 18.6% in the second quarter of 2025, due in part to $9.9 million of drydocking and major repairs during the third quarter of 2025 compared to $8.3 million in the third quarter of 2024 and $9.2 million in the second quarter of 2025, all of which are expensed as incurred.During the third quarter of 2025, the Company completed the sale of two 335’ class liftboats for total proceeds of $76.0 million and a gain of $30.5 million. For the third quarter of 2025, net income was $9.0 million ($0.35 earnings per basic and diluted share). This compares to a net loss for the third quarter of 2024 of $16.3 million ($0.59 loss per basic and diluted share). Sequentially, the third quarter 2025 results compare to a net loss of $6.7 million ($0.26 loss per basic and diluted share) in the second quarter of 2025. Chief Executive Officer John Gellert commented: “The third quarter results reflect lower revenues driven by lower utilization in our premium liftboat fleet and soft market conditions in the North Sea. As previously announced, we completed the sale of our two 335’ class liftboats to a foreign buyer at the end of the third quarter. In connection with this sale we incurred some market downtime during the quarter as the two liftboats were taken off the market in order to ensure a timely delivery. Additionally, one of our premium liftboats in the Middle East remained off hire undergoing repairs during the entire quarter. This vessel has now completed its repairs and is mobilizing towards a contract. Average rates held steady during the quarter, despite poor utilization and pricing in the North Sea, and each of our reporting segments reported positive DVP for the quarter, except the Middle East due to the ongoing repairs of the premium liftboat, which are now completed. Our fast supply vessel (“FSV”) fleet saw improved utilization and dayrate performance. We reactivated two of the three FSVs previously cold-stacked in the U.S., with one FSV redeployed to a contract internationally during the quarter and another one being prepared for service in international markets. The platform supply vessel (“PSV”) fleet generated a 24.8% DVP margin despite being negatively affected by continued soft conditions in the North Sea. During the quarter, we were awarded multi-year contracts in Brazil for two of our large hybrid-powered PSVs with contract commencement in Q1 2026. These contracts will reduce our presence in the North Sea to two PSVs. The successful execution of the liftboat sale during the third quarter demonstrates the deep value of our fleet and allows us to continue our strategic shift away from high volatility markets. We are streamlining our cost structure to reflect the recent asset sales and will utilize our improved liquidity profile to fund our newbuild PSV program and position ourselves for developments in offshore markets in the near term. With a better positioned fleet, an improved cost structure and a strengthened balance sheet, we will continue to explore opportunities to redeploy capital into more attractive assets or consolidation.” _______________(1)Direct vessel profit (defined as operating revenues less operating costs and expenses, “DVP”) is the Company’s measure of segment profitability. DVP is a critical financial measure used by the Company to analyze and compare the operating performance of its regions, without regard to financing decisions (depreciation and interest expense for owned vessels vs. lease expense for lease vessels). DVP is also useful when comparing the Company’s global fleet performance against those of our competitors who may have differing fleet financing structures. DVP has material limitations as an analytical tool in that it does not reflect all of the costs associated with the ownership and operation of our fleet, and it should not be considered in isolation or used as a substitute for our results as reported under GAAP. See page 4 for reconciliation of DVP to GAAP Operating Income (Loss), its most comparable GAAP measure. SEACOR Marine provides global marine and support transportation services to offshore energy facilities worldwide. SEACOR Marine operates and manages a diverse fleet of offshore support vessels that deliver cargo and personnel to offshore installations, including offshore wind farms; assist offshore operations for production and storage facilities; provide construction, well work-over, offshore wind farm installation and decommissioning support; and carry and launch equipment used underwater in drilling and well installation, maintenance, inspection and repair. Additionally, SEACOR Marine’s vessels provide emergency response services and accommodations for technicians and specialists. Certain statements discussed in this release as well as in other reports, materials and oral statements that the Company releases from time to time to the public constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “believe,” “plan,” “target,” “forecast” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements concern management’s expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. Forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or expected by the management of the Company. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. Actual events or results are subject to significant known and unknown risks, uncertainties and other important factors, many of which are beyond the Company’s control and are described in the Company’s filings with the SEC. It should be understood that it is not possible to predict or identify all such factors. Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. It is advisable, however, to consult any further disclosures the Company makes on related subjects in its filings with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K (if any). These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995. Please visit SEACOR Marine’s website at www.seacormarine.com for additional information.For all other requests, contact InvestorRelations@seacormarine.com SEACOR MARINE HOLDINGS INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)(in thousands, except share data) Three Months Ended September 30, Nine months ended September 30, 2025 2024 2025 2024 Operating Revenues $59,194 $68,916 $175,503 $201,553 Costs and Expenses: Operating 47,684 52,907 139,105 150,526 Administrative and general 11,269 11,019 34,753 33,825 Lease expense 280 364 942 1,331 Depreciation and amortization 12,125 12,928 37,025 38,749 71,358 77,218 211,825 224,431 Gains on Asset Dispositions and Impairments, Net 30,230 1,821 55,202 1,857 Operating Income (Loss) 18,066 (6,481) 18,880 (21,021)Other Income (Expense): Interest income 297 358 1,105 1,396 Interest expense (8,947) (10,127) (27,377) (30,626)Derivative gains (losses), net 17 67 229 (372)Foreign currency gains (losses), net 218 (1,717) (3,097) (2,357)Gains on insurance claim settlement 4,581 — 4,581 — Other, net (221) 29 (221) (66) (4,055) (11,390) (24,780) (32,025)Income (Loss) Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies 14,011 (17,871) (5,900) (53,046)Income Tax Expense (Benefit) 5,410 (513) 8,822 (270)Income (Loss) Before Equity in Earnings of 50% or Less Owned Companies 8,601 (17,358) (14,722) (52,776)Equity in Earnings of 50% or Less Owned Companies 393 1,012 1,500 878 Net Income (Loss) $8,994 $(16,346) $(13,222) $(51,898) Net Earnings (Loss) Per Share: Basic $0.35 $(0.59) $(0.50) $(1.88)Diluted $0.35 $(0.59) $(0.50) $(1.88)Weighted Average Common Stock and Warrants Outstanding: Basic 25,657,809 27,772,733 26,409,312 27,615,699 Diluted 25,887,710 27,772,733 26,409,312 27,615,699 SEACOR MARINE HOLDINGS INC.UNAUDITED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (in thousands, except statistics and per share data) Three Months Ended Sep. 30, 2025 Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Time Charter Statistics: Average Rates Per Day $19,490 $19,731 $18,825 $18,901 $18,879 Fleet Utilization 66% 68% 60% 72% 67%Fleet Available Days (2) 4,321 4,310 4,583 4,870 5,026 Operating Revenues: Time charter $55,958 $57,673 $51,933 $66,095 $63,313 Bareboat charter 846 838 708 364 372 Other marine services 2,390 2,299 2,858 3,349 5,231 59,194 60,810 55,499 69,808 68,916 Costs and Expenses: Operating: Personnel 17,616 18,969 18,537 20,365 21,940 Repairs and maintenance 14,603 13,648 8,520 10,433 9,945 Drydocking 2,430 5,143 3,869 2,467 6,068 Insurance and loss reserves 1,948 2,982 2,153 2,473 2,584 Fuel, lubes and supplies 4,465 4,296 4,546 4,884 6,574 Other 6,622 4,455 4,303 6,104 5,796 47,684 49,493 41,928 46,726 52,907 Direct Vessel Profit (1) 11,510 11,317 13,571 23,082 16,009 Other Costs and Expenses: Lease expense 280 325 337 347 364 Administrative and general 11,269 11,998 11,486 10,888 11,019 Depreciation and amortization 12,125 12,090 12,810 12,879 12,928 23,674 24,413 24,633 24,114 24,311 Gains on Asset Dispositions and Impairments, Net 30,230 19,163 5,809 11,624 1,821 Operating Income (Loss) 18,066 6,067 (5,253) 10,592 (6,481)Other Income (Expense): Interest income 297 372 436 372 358 Interest expense (8,947) (8,844) (9,586) (10,001) (10,127)Derivative gains (losses), net 17 87 125 (536) 67 Loss on debt extinguishment — — — (31,923) — Foreign currency gains (losses), net 218 (2,119) (1,196) 1,308 (1,717)Gains on insurance claim settlement 4,581 — — — — Other, net (221) — — 187 29 (4,055) (10,504) (10,221) (40,593) (11,390)Income (Loss) Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies 14,011 (4,437) (15,474) (30,001) (17,871)Income Tax Expense (Benefit) 5,410 2,508 904 (2,345) (513)Income (Loss) Before Equity in Earnings of 50% or Less Owned Companies 8,601 (6,945) (16,378) (27,656) (17,358)Equity in Earnings of 50% or Less Owned Companies 393 218 889 1,430 1,012 Net Income (Loss) $8,994 $(6,727) $(15,489) $(26,226) $(16,346) Net Earnings (Loss) Per Share: Basic $0.35 $(0.26) $(0.56) $(0.94) $(0.59)Diluted $0.35 $(0.26) $(0.56) $(0.94) $(0.59)Weighted Average Common Stock and Warrants Outstanding: Basic 25,658 25,687 27,908 27,773 27,773 Diluted 25,888 25,687 27,908 27,773 27,773 Common Shares and Warrants Outstanding at Period End 26,976 26,976 29,488 28,950 28,950 __________(1) See full description of footnote above.(2) Includes available days for a bareboat charter for one PSV, which has been excluded from days worked and average day rates. SEACOR MARINE HOLDINGS INC.UNAUDITED DIRECT VESSEL PROFIT (“DVP”) BY SEGMENT(in thousands, except statistics) Three Months Ended Sep. 30, 2025 Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 United States, primarily Gulf of America Time Charter Statistics: Average rates per day worked $20,419 $25,262 $23,874 $26,116 $17,188 Fleet utilization 53% 48% 25% 45% 42%Fleet available days 926 1,007 1,121 920 920 Out-of-service days for repairs, maintenance and drydockings 191 144 153 75 116 Out-of-service days for cold-stacked status (2) 116 270 173 184 175 Operating Revenues: Time charter $10,024 $12,205 $6,765 $10,744 $6,593 Other marine services 1,108 1,175 235 1,114 1,188 11,132 13,380 7,000 11,858 7,781 Direct Costs and Expenses: Operating: Personnel 5,815 6,854 6,486 6,097 6,297 Repairs and maintenance 1,309 1,950 1,479 1,680 1,655 Drydocking 1,079 3,684 1,066 1,451 2,615 Insurance and loss reserves 816 1,067 702 854 799 Fuel, lubes and supplies 700 1,010 819 854 964 Other 118 631 349 229 225 9,837 15,196 10,901 11,165 12,555 Direct Vessel Profit (Loss) (1) $1,295 $(1,816) $(3,901) $693 $(4,774)Other Costs and Expenses: Lease expense $148 $139 $136 $136 $140 Depreciation and amortization 3,106 3,203 3,705 3,196 3,194 Africa and Europe Time Charter Statistics: Average rates per day worked $17,983 $19,140 $17,294 $16,895 $18,875 Fleet utilization 75% 77% 70% 73% 77%Fleet available days 1,656 1,668 1,710 1,856 1,990 Out-of-service days for repairs, maintenance and drydockings 229 248 382 180 203 Out-of-service days for cold-stacked status — — — — 58 Operating Revenues: Time charter $22,357 $24,535 $20,835 $22,999 $28,809 Other marine services 733 806 852 1,027 3,048 23,090 25,341 21,687 24,026 31,857 Direct Costs and Expenses: Operating: Personnel 4,465 5,515 5,183 5,654 6,083 Repairs and maintenance 6,531 4,646 3,462 3,712 3,455 Drydocking 1,413 901 1,241 835 681 Insurance and loss reserves 326 899 594 577 599 Fuel, lubes and supplies 1,781 1,714 2,180 2,226 2,514 Other 3,573 2,357 2,727 3,748 3,975 18,089 16,032 15,387 16,752 17,307 Direct Vessel Profit (1) $5,001 $9,309 $6,300 $7,274 $14,550 Other Costs and Expenses: Lease expense $8 $51 $63 $82 $75 Depreciation and amortization 4,302 4,263 4,402 4,477 4,540 (1) See full description of footnote above.(2) Includes one FSV cold-stacked in this region as of September 30, 2025. SEACOR MARINE HOLDINGS INC. UNAUDITED DIRECT VESSEL PROFIT (“DVP”) BY SEGMENT (continued)(in thousands, except statistics) Three Months Ended Sep. 30, 2025 Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Middle East and Asia Time Charter Statistics: Average rates per day worked $17,818 $15,506 $17,848 $17,337 $17,825 Fleet utilization 64% 73% 75% 88% 71%Fleet available days 1,104 1,089 1,170 1,266 1,288 Out-of-service days for repairs, maintenance and drydockings 157 204 82 30 229 Operating Revenues: Time charter $12,606 $12,365 $15,710 $19,385 $16,411 Other marine services 319 432 292 635 375 12,925 12,797 16,002 20,020 16,786 Direct Costs and Expenses: Operating: Personnel 4,956 4,511 4,927 5,470 5,769 Repairs and maintenance 5,798 6,338 2,505 3,574 3,318 Drydocking (1) 13 1,031 (226) 832 Insurance and loss reserves 611 842 702 804 927 Fuel, lubes and supplies 1,241 1,279 883 840 1,043 Other 1,167 1,104 881 1,305 1,131 13,772 14,087 10,929 11,767 13,020 Direct Vessel (Loss) Profit (1) $(847) $(1,290) $5,073 $8,253 $3,766 Other Costs and Expenses: Lease expense $70 $72 $83 $72 $73 Depreciation and amortization 3,231 3,227 3,230 3,272 3,261 Latin America Time Charter Statistics: Average rates per day worked $25,541 $23,764 $22,084 $21,390 $21,984 Fleet utilization 68% 66% 67% 73% 63%Fleet available days (2) 635 546 582 828 828 Out-of-service days for repairs, maintenance and drydockings 7 26 — 20 94 Operating Revenues: Time charter $10,971 $8,568 $8,623 $12,967 $11,500 Bareboat charter 846 838 708 364 372 Other marine services 230 (114) 1,479 573 620 12,047 9,292 10,810 13,904 12,492 Direct Costs and Expenses: Operating: Personnel 2,380 2,089 1,941 3,144 3,791 Repairs and maintenance 965 714 1,074 1,467 1,517 Drydocking (61) 545 531 407 1,940 Insurance and loss reserves 195 174 155 238 259 Fuel, lubes and supplies 743 293 664 964 2,053 Other 1,764 363 346 822 465 5,986 4,178 4,711 7,042 10,025 Direct Vessel Profit (1) $6,061 $5,114 $6,099 $6,862 $2,467 Other Costs and Expenses: Lease expense $54 $63 $55 $57 $76 Depreciation and amortization 1,486 1,397 1,473 1,934 1,933 (1) See full description of footnote above.(2) Includes available days for a bareboat charter for one PSV, which has been excluded from days worked and average day rates. SEACOR MARINE HOLDINGS INC.UNAUDITED PERFORMANCE BY VESSEL CLASS(in thousands, except statistics) Three Months Ended Sep. 30, 2025 Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 AHTS Time Charter Statistics: Average rates per day worked $— $— $— $10,410 $10,316 Fleet utilization —% —% —% 79% 46%Fleet available days — — — 178 334 Out-of-service days for repairs, maintenance and drydockings — — — 28 87 Out-of-service days for cold-stacked status — — — — 58 Operating Revenues: Time charter $— $(22) $15 $1,465 $1,576 Other marine services (7) (9) 9 — 13 (7) (31) 24 1,465 1,589 Direct Costs and Expenses: Operating: Personnel $11 $9 $1 $595 $981 Repairs and maintenance (24) 255 38 128 239 Drydocking — — — 5 436 Insurance and loss reserves — (4) — 49 66 Fuel, lubes and supplies 3 (125) 66 25 90 Other 18 (4) 12 210 263 8 131 117 1,012 2,075 Other Costs and Expenses: Lease expense $— $— $— $7 $4 Depreciation and amortization 4 3 4 122 175 FSV Time Charter Statistics: Average rates per day worked $14,007 $13,468 $13,786 $13,643 $13,102 Fleet utilization 71% 67% 71% 72% 81%Fleet available days 1,932 1,935 1,980 2,024 2,024 Out-of-service days for repairs, maintenance and drydockings 236 181 135 118 96 Out-of-service days for cold-stacked status 116 270 90 92 83 Operating Revenues: Time charter $19,131 $17,573 $19,357 $19,992 $21,606 Other marine services 566 516 762 416 1,012 19,697 18,089 20,119 20,408 22,618 Direct Costs and Expenses: Operating: Personnel $4,502 $4,526 $4,933 $5,078 $5,637 Repairs and maintenance 6,041 3,542 2,983 4,480 4,378 Drydocking 678 666 353 426 448 Insurance and loss reserves 270 683 517 422 532 Fuel, lubes and supplies 1,480 1,449 1,173 1,586 1,962 Other 2,889 1,428 1,782 2,456 2,238 15,860 12,294 11,741 14,448 15,195 Other Costs and Expenses: Depreciation and amortization $4,695 $4,703 $4,932 $4,746 $4,744 SEACOR MARINE HOLDINGS INC.UNAUDITED PERFORMANCE BY VESSEL CLASS (continued)(in thousands, except statistics) Three Months Ended Sep. 30, 2025 Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 PSV Time Charter Statistics: Average rates per day worked $21,507 $22,231 $19,424 $17,912 $21,819 Fleet utilization 65% 68% 55% 72% 58%Fleet available days(1) 1,748 1,738 1,890 1,932 1,932 Out-of-service days for repairs, maintenance and drydockings 161 247 396 117 349 Operating Revenues: Time charter $24,439 $26,440 $20,286 $24,865 $24,488 Bareboat charter 846 838 708 364 372 Other marine services 592 433 508 1,561 2,855 25,877 27,711 21,502 26,790 27,715 Direct Costs and Expenses: Operating: Personnel $7,882 $8,567 $8,351 $8,999 $9,360 Repairs and maintenance 4,618 3,799 3,949 4,101 3,798 Drydocking 1,113 1,993 2,513 1,046 2,629 Insurance and loss reserves 546 906 631 618 636 Fuel, lubes and supplies 2,030 1,858 2,594 2,379 3,594 Other 3,262 2,199 2,018 2,566 2,821 19,451 19,322 20,056 19,709 22,838 Other Costs and Expenses: Lease expense $— $— $— $— $(3)Depreciation and amortization 3,968 3,943 4,133 4,122 4,117 (1) Includes available days for a bareboat charter for one PSV, which has been excluded from days worked and average day rates. SEACOR MARINE HOLDINGS INC.UNAUDITED PERFORMANCE BY VESSEL CLASS (continued)(in thousands, except statistics) Three Months Ended Sep. 30, 2025 Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Liftboats Time Charter Statistics: Average rates per day worked $33,566 $31,904 $39,559 $39,326 $36,423 Fleet utilization 58% 67% 44% 68% 58%Fleet available days 641 637 713 736 736 Out-of-service days for repairs, maintenance and drydockings 188 194 87 41 109 Out-of-service days for cold-stacked status — — 83 92 92 Operating Revenues: Time charter $12,388 $13,682 $12,275 $19,773 $15,643 Other marine services 1,128 1,168 1,289 1,177 1,142 13,516 14,850 13,564 20,950 16,785 Direct Costs and Expenses: Operating: Personnel $5,209 $5,673 $5,247 $5,678 $5,926 Repairs and maintenance 3,943 6,022 1,571 1,722 1,531 Drydocking 639 2,484 1,003 990 2,555 Insurance and loss reserves 1,145 1,376 1,241 1,384 1,334 Fuel, lubes and supplies 951 1,114 712 894 928 Other 407 803 482 860 473 12,294 17,472 10,256 11,528 12,747 Other Costs and Expenses: Depreciation and amortization 3,450 3,424 3,719 3,866 3,866 Other Activity Operating Revenues: Other marine services $111 $191 $290 $195 $209 111 191 290 195 209 Direct Costs and Expenses: Operating: Personnel $12 $194 $5 $15 $36 Repairs and maintenance 25 30 (21) 2 (1)Insurance and loss reserves (13) 21 (236) — 16 Fuel, lubes and supplies 1 — 1 — — Other 46 29 9 12 1 71 274 (242) 29 52 Other Costs and Expenses: Lease expense $280 $325 $337 $340 $363 Depreciation and amortization 8 17 22 23 26 SEACOR MARINE HOLDINGS INC.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands) Sep. 30, 2025 Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 ASSETS Current Assets: Cash and cash equivalents $90,953 $34,381 $42,988 $59,491 $35,601 Restricted cash 17,255 17,174 2,440 16,649 2,263 Receivables: Trade, net of allowance for credit loss 62,788 63,287 63,946 69,888 76,497 Other 16,801 10,439 8,811 7,913 7,841 Tax receivable 507 507 1,602 1,601 983 Inventories 2,552 2,539 2,827 2,760 3,139 Prepaid expenses and other 3,448 4,716 6,075 4,406 4,840 Assets held for sale — — 12,195 10,943 — Total current assets 194,304 133,043 140,884 173,651 131,164 Property and Equipment: Historical cost 797,381 887,408 881,961 900,414 921,445 Accumulated depreciation (344,899) (377,265) (365,422) (367,448) (362,604) 452,482 510,143 516,539 532,966 558,841 Construction in progress 40,394 31,772 27,248 11,904 11,935 Net property and equipment 492,876 541,915 543,787 544,870 570,776 Right-of-use asset - operating leases 903 1,179 3,293 3,436 3,575 Right-of-use asset - finance leases 22 25 28 36 19 Investments, at equity, and advances to 50% or less owned companies 2,707 2,310 4,507 3,541 2,046 Other assets 1,686 1,558 1,665 1,577 1,864 Total assets $692,498 $680,030 $694,164 $727,111 $709,444 LIABILITIES AND EQUITY Current Liabilities: Current portion of operating lease liabilities $510 $543 $540 $606 $494 Current portion of finance lease liabilities 11 11 11 17 17 Current portion of long-term debt 30,000 30,000 30,000 27,500 28,605 Accounts payable 25,928 26,737 28,445 29,236 22,744 Other current liabilities 24,702 24,182 16,414 27,683 28,808 Total current liabilities 81,151 81,473 75,410 85,042 80,668 Long-term operating lease liabilities 567 812 2,926 2,982 3,221 Long-term finance lease liabilities 11 14 17 20 4 Long-term debt 311,858 310,980 310,108 317,339 272,325 Deferred income taxes 20,609 18,330 20,312 22,037 26,802 Deferred gains and other liabilities 639 625 1,356 1,369 1,416 Total liabilities 414,835 412,234 410,129 428,789 384,436 Equity: SEACOR Marine Holdings Inc. stockholders’ equity: Common stock 281 281 293 287 287 Additional paid-in capital 470,228 468,669 480,904 479,283 477,661 Accumulated deficit (193,822) (202,816) (196,089) (180,600) (154,374)Shares held in treasury (9,639) (9,639) (9,628) (8,110) (8,110)Accumulated other comprehensive income, net of tax 10,294 10,980 8,234 7,141 9,223 277,342 267,475 283,714 298,001 324,687 Noncontrolling interests in subsidiaries 321 321 321 321 321 Total equity 277,663 267,796 284,035 298,322 325,008 Total liabilities and equity $692,498 $680,030 $694,164 $727,111 $709,444 SEACOR MARINE HOLDINGS INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands) Three Months Ended Sep. 30, 2025 Jun. 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Cash Flows from Operating Activities: Net Income (Loss) $8,994 $(6,727) $(15,489) $(26,226) $(16,346)Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation and amortization 12,125 12,090 12,810 12,879 12,928 Deferred financing costs amortization (86) 43 43 254 298 Stock-based compensation expense 1,559 1,510 1,627 1,622 1,604 Debt discount amortization 236 232 226 1,799 2,061 Allowance for credit losses 627 (213) (407) 59 101 Gains from equipment sales, retirements or impairments (30,230) (19,163) (5,809) (11,624) (1,821)Losses on debt extinguishment — — — 28,252 — Derivative (gains) losses (17) (87) (125) 536 (67)Interest on finance lease 1 1 1 2 — Settlements on derivative transactions, net — — (373) — — Currency (gains) losses (218) 2,119 1,196 (1,308) 1,717 Deferred income taxes 2,279 (1,982) (1,725) (4,766) (3,281)Equity earnings (393) (218) (889) (1,430) (1,012)Dividends received from equity investees — 3,199 — — 1,498 Changes in Operating Assets and Liabilities: Accounts receivables (6,700) 284 5,333 5,448 (7,411)Other assets 1,385 1,901 (1,681) 1,338 1,032 Accounts payable and accrued liabilities (221) 4,934 (6,204) 1,693 9,325 Net cash (used in) provided by operating activities (10,659) (2,077) (11,466) 8,528 626 Cash Flows from Investing Activities: Purchases of property and equipment (9,348) (10,213) (20,795) (3,010) (210)Proceeds from disposition of property and equipment 76,068 31,592 8,472 22,441 2,331 Net cash provided by (used in) investing activities 66,720 21,379 (12,323) 19,431 2,121 Cash Flows from Financing Activities: Payments on long-term debt (7,500) (7,500) (5,000) (2,479) (7,770)Payments on debt extinguishment — — — (328,712) — Payments on debt extinguishment cost — — — (3,671) — Proceeds from issuance of long-term debt, net of debt discount and issuance costs 8,098 8,097 (396) 345,192 — Payments on finance leases (3) (4) (9) (13) (10)Payments for repurchase of common stock — (7,089) — — — Payments for repurchase of warrants — (6,668) — — — Proceeds from exercise of stock options and warrants — — — — 38 Tax withholdings on restricted stock vesting — (11) (1,518) — — Net cash provided by (used in) financing activities 595 (13,175) (6,923) 10,317 (7,742)Effects of Exchange Rate Changes on Cash, Restricted Cash and Cash Equivalents (3) — — — (1)Net Change in Cash, Restricted Cash and Cash Equivalents 56,653 6,127 (30,712) 38,276 (4,996)Cash, Restricted Cash and Cash Equivalents, Beginning of Period 51,555 45,428 76,140 37,864 42,860 Cash, Restricted Cash and Cash Equivalents, End of Period $108,208 $51,555 $45,428 $76,140 $37,864 SEACOR MARINE HOLDINGS INC.UNAUDITED FLEET COUNTS Owned Managed Total September 30, 2025 FSV 21 — 21 PSV 19 — 19 Liftboats 5 — 5 45 — 45 December 31, 2024 AHTS — 2 2 FSV 22 1 23 PSV 21 — 21 Liftboats 8 — 8 51 3 54

SEACOR Marine Announces Third Quarter 2025 Results

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