HOUSTON, July 29, 2026 (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 second quarter ended June 30, 2026, and separately announced that its Board of Directors (the "Board") is evaluating potential strategic alternatives to maximize shareholder value.

Second Quarter 2026 Results

SEACOR Marine’s consolidated operating revenues for the second quarter of 2026 were $54.6 million, operating income was $16.0 million, and direct vessel profit ("DVP")⁽¹⁾ was $7.9 million. This compares to 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, and consolidated operating revenues of $44.3 million, operating loss of $6.4 million, and DVP of $6.7 million in the first quarter of 2026.

Notable second quarter items include:

10.2% decrease in revenues from the second quarter of 2025 and 23.4% increase from the first quarter of 2026.
Average day rates of $20,227, compared to $19,731 in the second quarter of 2025 and $18,199 in the first quarter of 2026.
68% utilization, compared to 68% in the second quarter of 2025 and 59% in the first quarter of 2026.
DVP margin of 14.5%, compared to 18.6% in the second quarter of 2025 and 15.2% in the first quarter of 2026.
During the second quarter of 2026, the Company completed the sale of five vessels and other equipment for net cash proceeds of $44.7 million and after transaction costs, recognized gains of $31.3 million.
During the quarter, administrative and general costs increased due to professional fees associated with the termination of certain prior engagements; excluding this one-time charge, the Company’s administrative and general costs were $9.3 million for the second quarter of 2026, compared to $12.0 million for the second quarter of 2025 and $10.0 million for the first quarter of 2026.

For the second quarter of 2026, net income was $3.3 million ($0.13 earnings per basic share and $0.12 earnings per diluted share). This compares to a net loss for the second quarter of 2025 of $6.7 million ($0.26 loss per basic and diluted share). Sequentially, the second quarter of 2026 results compare to a net loss of $15.8 million ($0.61 loss per basic and diluted share) in the first quarter of 2026.

Chief Executive Officer John Gellert commented:

"Our second quarter results reflect improved utilization following vessel repositioning and contract commencements. During the quarter, we completed the sale of five vessels as part of our fleet optimization strategy and continued to focus on maximizing fleet efficiency and positioning the business to benefit from improving offshore activity in several of our core international markets.

With regards to the Middle East, the Company continued to observe increased labor and insurance costs in the region because of the conflict, and a general softening in offshore activity while customers wait for operating conditions to improve. The maintenance scope of work for our two premium liftboats in the region continues. Based on observed delays due primarily to the ongoing conflict, we do not expect either of these vessels to operate during the third quarter of 2026. At the end of the second quarter, excluding the two liftboats, we had eight vessels in the region, of which six have continued to operate for our customers in Saudi Arabia and Qatar. The timing of a full recovery in this region will depend on a durable resolution to the conflict.

Looking ahead, we remain constructive on opportunities across several of our international markets while maintaining a disciplined approach to operational execution. We believe SEACOR Marine is well positioned to continue supporting our customers and participating in incremental demand from offshore energy projects."

Strategic Review Process

Separately, SEACOR Marine today announced that its Board is evaluating potential strategic alternatives to maximize shareholder value.

During the review process, the Board expects to evaluate a range of strategic alternatives that may include a sale of the Company, merger, other business combinations, sale of assets, or other transactions aimed at maximizing value for shareholders. The Board has retained independent financial advisors to assist in evaluating strategic alternatives. The Board and management team remain fully committed to acting in the best interests of the Company and its stakeholders throughout this evaluation process.

Andrew R. Morse, Non-Executive Chairman of the Board, commented:

"Over the past several years, the Company has worked diligently to optimize its fleet, strengthen its balance sheet and position SEACOR Marine to benefit from improving offshore market fundamentals. Given the progress we have made and the opportunities we see ahead, the Board and management team are eager to evaluate a range of strategic alternatives to determine the best path forward for maximizing shareholder value. Throughout this process, the team remains focused on executing our strategy, serving our customers and delivering safe and reliable operations worldwide. Our employees, customers, and business partners should expect business as usual as we continue to execute on our operating and financial objectives."

There can be no assurance that the strategic review process will result in any transaction or other strategic outcome. The Company has not established a timetable for completion of the review process and does not intend to disclose developments related to the review unless and until SEACOR Marine executes a definitive agreement with respect thereto, or the Board otherwise determines that further disclosure is appropriate or required.

___________________

(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, including our announcement of the commencement of a strategic review of the business, 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. Achievement of these expectations and strategic objectives, including any increase to shareholder value from the strategic review, business prospects, anticipated economic performance and financial condition involve significant known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of results to differ materially from any future results, performance or achievements discussed or implied by such forward-looking statements. Certain of these risks, uncertainties and other important factors 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 investors, contact:

InvestorRelations@seacormarine.com

For media, contact:

H/Advisors – U.S.

Dana Gorman / Amy Feng

dana.gorman@h-advisors.global / amy.feng@h-advisors.global

SEACOR MARINE HOLDINGS INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (in thousands, except share data)

	Three Months Ended June 30,						Six months ended June 30,
	2026			2025			2026			2025
Operating Revenues	$	54,630		$	60,810		$	98,912		$	116,309
Costs and Expenses:
Operating		46,684			49,493			84,257			91,421
Administrative and general		12,343			11,998			22,297			23,484
Lease expense		266			325			516			662
Depreciation and amortization		10,718			12,090			21,048			24,900
		70,011			73,906			128,118			140,467
Gains on Asset Dispositions and Impairments, Net		31,347			19,163			38,795			24,972
Operating Income		15,966			6,067			9,589			814
Other Income (Expense):
Interest income		443			372			934			808
Interest expense		(8,244	)		(8,844	)		(16,483	)		(18,430	)
Derivative gains, net		—			87			—			212
Foreign currency losses, net		(981	)		(2,119	)		(503	)		(3,315	)
Other, net		4			—			4			—
		(8,778	)		(10,504	)		(16,048	)		(20,725	)
Income (Loss) Before Income Tax Expense and Equity in Earnings of 50% or Less Owned Companies		7,188			(4,437	)		(6,459	)		(19,911	)
Income Tax Expense		3,951			2,508			6,159			3,412
Income (Loss) Before Equity in Earnings of 50% or Less Owned Companies		3,237			(6,945	)		(12,618	)		(23,323	)
Equity in Earnings of 50% or Less Owned Companies		56			218			106			1,107
Net Income (Loss)	$	3,293		$	(6,727	)	$	(12,512	)	$	(22,216	)

Net Earnings (Loss) Per Share:
Basic	$	0.13		$	(0.26	)	$	(0.48	)	$	(0.83	)
Diluted	$	0.12		$	(0.26	)	$	(0.48	)	$	(0.83	)
Weighted Average Common Stock Outstanding:
Basic		26,072,144			25,686,560			25,929,323			26,791,291
Diluted		26,353,556			25,686,560			25,929,323			26,791,291

SEACOR MARINE HOLDINGS INC. UNAUDITED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (in thousands, except statistics and per share data)

	Three Months Ended
	Jun. 30, 2026			Mar. 31, 2026			Dec. 31, 2025			Sep. 30, 2025			Jun. 30, 2025
Time Charter Statistics:
Average Rates Per Day	$	20,227		$	18,199		$	17,519		$	19,490		$	19,731
Fleet Utilization		68	%		59	%		69	%		66	%		68	%
Fleet Available Days⁽²⁾		3,635			3,897			4,127			4,321			4,310
Operating Revenues:
Time charter	$	49,697		$	41,957		$	49,817		$	55,958		$	57,673
Bareboat charter		834			828			843			846			838
Other marine services		4,099			1,497			1,669			2,390			2,299
		54,630			44,282			52,329			59,194			60,810
Costs and Expenses:
Operating:
Personnel		15,697			15,422			16,539			17,616			18,969
Repairs and maintenance		12,648			10,600			11,752			14,603			13,648
Drydocking		2,961			1,252			1,175			2,430			5,143
Insurance and loss reserves		2,698			1,792			1,570			1,948			2,982
Fuel, lubes and supplies		5,302			3,308			4,601			4,465			4,296
Other		7,378			5,199			7,030			6,622			4,455
		46,684			37,573			42,667			47,684			49,493
Direct Vessel Profit⁽¹⁾		7,946			6,709			9,662			11,510			11,317
Other Costs and Expenses:
Lease expense		266			250			261			280			325
Administrative and general		12,343			9,954			12,730			11,269			11,998
Depreciation and amortization		10,718			10,330			10,045			12,125			12,090
		23,327			20,534			23,036			23,674			24,413
Gains on Asset Dispositions and Impairments, Net		31,347			7,448			8,210			30,230			19,163
Operating Income (Loss)		15,966			(6,377	)		(5,164	)		18,066			6,067
Other Income (Expense):
Interest income		443			491			751			297			372
Interest expense		(8,244	)		(8,239	)		(8,673	)		(8,947	)		(8,844	)
Derivative (losses) gains, net		—			—			(73	)		17			87
Foreign currency (losses) gains, net		(981	)		478			(38	)		218			(2,119	)
Gains on insurance claim settlement		—			—			—			4,581			—
Other, net		4			—			32			(221	)		—
		(8,778	)		(7,270	)		(8,001	)		(4,055	)		(10,504	)
Income (Loss) Before Income Tax Expense and Equity in Earnings of 50% or Less Owned Companies		7,188			(13,647	)		(13,165	)		14,011			(4,437	)
Income Tax Expense		3,951			2,208			1,688			5,410			2,508
Income (Loss) Before Equity in Earnings of 50% or Less Owned Companies		3,237			(15,855	)		(14,853	)		8,601			(6,945	)
Equity in Earnings of 50% or Less Owned Companies		56			50			231			393			218
Net Income (Loss)	$	3,293		$	(15,805	)	$	(14,622	)	$	8,994		$	(6,727	)

Net Earnings (Loss) Per Share:
Basic	$	0.13		$	(0.61	)	$	(0.57	)	$	0.35		$	(0.26	)
Diluted	$	0.12		$	(0.61	)	$	(0.57	)	$	0.35		$	(0.26	)
Weighted Average Common Stock Outstanding:
Basic		26,072			25,785			25,671			25,658			25,687
Diluted		26,354			25,785			25,671			25,888			25,687
Common Shares Outstanding at Period End		27,133			27,062			26,952			26,976			26,976

(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
	Jun. 30, 2026			Mar. 31, 2026			Dec. 31, 2025			Sep. 30, 2025			Jun. 30, 2025
*Americas*
Time Charter Statistics:
Average rates per day worked	$	28,394		$	20,546		$	18,188		$	22,809		$	24,622
Fleet utilization		58	%		35	%		50	%		59	%		54	%
Fleet available days⁽²⁾		935			1,369			1,477			1,561			1,553
Out-of-service days for repairs, maintenance and drydockings		153			190			127			198			170
Out-of-service days for cold-stacked status		—			61			92			116			270
Operating Revenues:
Time charter	$	15,518		$	9,843		$	13,560		$	20,995		$	20,773
Bareboat charter		834			828			843			846			838
Other marine services		1,353			282			519			1,338			1,061
		17,705			10,953			14,922			23,179			22,672
Direct Costs and Expenses:
Operating:
Personnel		5,322			6,007			7,115			8,195			8,943
Repairs and maintenance		2,252			1,644			1,955			2,274			2,664
Drydocking		680			440			(102	)		1,018			4,229
Insurance and loss reserves		787			423			465			1,011			1,241
Fuel, lubes and supplies		1,494			1,075			1,618			1,443			1,303
Other		3,271			1,384			3,096			1,882			994
		13,806			10,973			14,147			15,823			19,374
Direct Vessel Profit (Loss)⁽¹⁾	$	3,899		$	(20	)	$	775		$	7,356		$	3,298
Other Costs and Expenses:
Lease expense	$	191		$	177		$	185		$	202		$	202
Depreciation and amortization		3,168			3,166			2,917			4,592			4,600

*Africa and Europe*
Time Charter Statistics:
Average rates per day worked	$	18,877		$	18,711		$	17,095		$	17,983		$	19,140
Fleet utilization		77	%		78	%		84	%		75	%		77	%
Fleet available days		1,741			1,538			1,559			1,656			1,668
Out-of-service days for repairs, maintenance and drydockings		195			202			144			229			248
Operating Revenues:
Time charter	$	25,248		$	22,534		$	22,317		$	22,357		$	24,535
Other marine services		1,041			577			580			733			806
		26,289			23,111			22,897			23,090			25,341
Direct Costs and Expenses:
Operating:
Personnel		5,523			4,982			4,656			4,465			5,515
Repairs and maintenance		5,673			2,957			4,694			6,531			4,646
Drydocking		554			176			987			1,413			901
Insurance and loss reserves		504			330			481			326			899
Fuel, lubes and supplies		2,416			1,334			1,292			1,781			1,714
Other		3,154			3,192			2,558			3,573			2,357
		17,824			12,971			14,668			18,089			16,032
Direct Vessel Profit⁽¹⁾	$	8,465		$	10,140		$	8,229		$	5,001		$	9,309
Other Costs and Expenses:
Lease expense	$	—		$	—		$	8		$	8		$	51
Depreciation and amortization		4,485			4,063			3,968			4,302			4,263

(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 (continued) (in thousands, except statistics)

	Three Months Ended
	Jun. 30, 2026			Mar. 31, 2026			Dec. 31, 2025			Sep. 30, 2025			Jun. 30, 2025
*Middle East and Asia*
Time Charter Statistics:
Average rates per day worked	$	15,588		$	15,400		$	17,587		$	17,818		$	15,506
Fleet utilization		60	%		63	%		73	%		64	%		73	%
Fleet available days		959			990			1,091			1,104			1,089
Out-of-service days for repairs, maintenance and drydockings		300			268			72			157			204
Operating Revenues:
Time charter	$	8,931		$	9,580		$	13,940		$	12,606		$	12,365
Other marine services		1,705			638			570			319			432
		10,636			10,218			14,510			12,925			12,797
Direct Costs and Expenses:
Operating:
Personnel		4,852			4,433			4,768			4,956			4,511
Repairs and maintenance		4,723			5,999			5,103			5,798			6,338
Drydocking		1,727			636			290			(1	)		13
Insurance and loss reserves		1,407			1,039			624			611			842
Fuel, lubes and supplies		1,392			899			1,691			1,241			1,279
Other		953			623			1,376			1,167			1,104
		15,054			13,629			13,852			13,772			14,087
Direct Vessel (Loss) Profit⁽¹⁾	$	(4,418	)	$	(3,411	)	$	658		$	(847	)	$	(1,290	)
Other Costs and Expenses:
Lease expense	$	75		$	73		$	68		$	70		$	72
Depreciation and amortization		3,065			3,101			3,160			3,231			3,227

(1) See full description of footnote above.

SEACOR MARINE HOLDINGS INC. UNAUDITED PERFORMANCE BY VESSEL CLASS (in thousands, except statistics)

	Three Months Ended
	Jun. 30, 2026			Mar. 31, 2026			Dec. 31, 2025			Sep. 30, 2025			Jun. 30, 2025
*AHTS*
Operating Revenues:
Time charter	$	—		$	—		$	—		$	—		$	(22	)
Other marine services		—			—			—			(7	)		(9	)
		—			—			—			(7	)		(31	)
Direct Costs and Expenses:
Operating:
Personnel	$	—		$	—		$	12		$	11		$	9
Repairs and maintenance		—			—			—			(24	)		255
Insurance and loss reserves		—			—			—			—			(4	)
Fuel, lubes and supplies		—			—			1			3			(125	)
Other		—			—			9			18			(4	)
		—			—			22			8			131
Other Costs and Expenses:
Depreciation and amortization	$	—		$	—		$	4		$	4		$	3

*FSV*
Time Charter Statistics:
Average rates per day worked	$	14,411		$	13,833		$	14,114		$	14,007		$	13,468
Fleet utilization		74	%		73	%		75	%		71	%		67	%
Fleet available days		1,840			1,862			1,932			1,932			1,935
Out-of-service days for repairs, maintenance and drydockings		348			353			209			236			181
Out-of-service days for cold-stacked status		—			61			92			116			270
Operating Revenues:
Time charter	$	19,636		$	18,929		$	20,546		$	19,131		$	17,573
Other marine services		1,819			471			492			566			516
		21,455			19,400			21,038			19,697			18,089
Direct Costs and Expenses:
Operating:
Personnel	$	5,416		$	5,166		$	4,980		$	4,502		$	4,526
Repairs and maintenance		6,434			3,179			5,862			6,041			3,542
Drydocking		898			576			1,098			678			666
Insurance and loss reserves		951			663			509			270			683
Fuel, lubes and supplies		1,481			1,503			1,850			1,480			1,449
Other		2,548			1,683			2,147			2,889			1,428
		17,728			12,770			16,446			15,860			12,294
Other Costs and Expenses:
Depreciation and amortization	$	5,244		$	4,719		$	4,707		$	4,695		$	4,703

SEACOR MARINE HOLDINGS INC. UNAUDITED PERFORMANCE BY VESSEL CLASS (continued) (in thousands, except statistics)

	Three Months Ended
	Jun. 30, 2026			Mar. 31, 2026			Dec. 31, 2025			Sep. 30, 2025			Jun. 30, 2025
*PSV*
Time Charter Statistics:
Average rates per day worked	$	28,443		$	25,352		$	20,118		$	21,507		$	22,231
Fleet utilization		70	%		54	%		68	%		65	%		68	%
Fleet available days⁽¹⁾		1,427			1,585			1,735			1,748			1,738
Out-of-service days for repairs, maintenance and drydockings		114			37			48			161			247
Operating Revenues:
Time charter	$	28,622		$	21,688		$	23,801		$	24,439		$	26,440
Bareboat charter		834			828			843			846			838
Other marine services		1,459			811			440			592			433
		30,915			23,327			25,084			25,877			27,711
Direct Costs and Expenses:
Operating:
Personnel	$	7,859		$	7,348		$	8,322		$	7,882		$	8,567
Repairs and maintenance		2,865			2,801			3,501			4,618			3,799
Drydocking		803			133			(166	)		1,113			1,993
Insurance and loss reserves		903			448			656			546			906
Fuel, lubes and supplies		3,290			1,201			1,985			2,030			1,858
Other		4,357			3,292			4,378			3,262			2,199
		20,077			15,223			18,676			19,451			19,322
Other Costs and Expenses:
Depreciation and amortization	$	3,565		$	3,574		$	3,301		$	3,968		$	3,943

(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
	Jun. 30, 2026			Mar. 31, 2026			Dec. 31, 2025			Sep. 30, 2025			Jun. 30, 2025
*Liftboats*
Time Charter Statistics:
Average rates per day worked	$	16,417		$	16,420		$	26,703		$	33,566		$	31,904
Fleet utilization		24	%		18	%		45	%		58	%		67	%
Fleet available days		368			450			460			641			637
Out-of-service days for repairs, maintenance and drydockings		188			270			87			188			194
Operating Revenues:
Time charter	$	1,448		$	1,340		$	5,470		$	12,388		$	13,682
Other marine services		789			178			359			1,128			1,168
		2,237			1,518			5,829			13,516			14,850
Direct Costs and Expenses:
Operating:
Personnel	$	2,409		$	2,897		$	3,241		$	5,209		$	5,673
Repairs and maintenance		3,294			4,594			2,375			3,943			6,022
Drydocking		1,260			543			243			639			2,484
Insurance and loss reserves		844			943			415			1,145			1,376
Fuel, lubes and supplies		531			600			715			951			1,114
Other		497			182			564			407			803
		8,835			9,759			7,553			12,294			17,472
Other Costs and Expenses:
Depreciation and amortization	$	1,734		$	2,027		$	2,026		$	3,450		$	3,424

*Other Activity*
Operating Revenues:
Time charter		(9	)	$	—		$	—		$	—		$	—
Other marine services		32			37			378			111			191
		23			37			378			111			191
Direct Costs and Expenses:
Operating:
Personnel	$	13		$	11		$	(16	)	$	12		$	194
Repairs and maintenance		55			26			14			25			30
Insurance and loss reserves		—			(262	)		(10	)		(13	)		21
Fuel, lubes and supplies		—			4			50			1			—
Other		(24	)		42			(68	)		46			29
		44			(179	)		(30	)		71			274
Other Costs and Expenses:
Lease expense	$	266		$	250		$	261		$	280		$	325
Depreciation and amortization		175			10			7			8			17

SEACOR MARINE HOLDINGS INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands)

	Jun. 30, 2026			Mar. 31, 2026			Dec. 31, 2025			Sep. 30, 2025			Jun. 30, 2025
ASSETS
Current Assets:
Cash and cash equivalents	$	55,397		$	38,721		$	68,934		$	90,953		$	34,381
Restricted cash		37,643			36,711			24,182			17,255			17,174
Receivables:
Trade, net of allowance for credit loss		61,955			69,200			64,522			62,788			63,287
Other		5,857			4,897			3,965			17,308			10,946
Inventories		2,061			2,746			2,196			2,552			2,539
Prepaid expenses and other		5,407			6,007			5,173			3,448			4,716
Assets held for sale		—			13,376			10,812			—			—
Total current assets		168,320			171,658			179,784			194,304			133,043
Property and Equipment:
Historical cost		754,369			752,640			776,833			797,381			887,408
Accumulated depreciation		(351,840	)		(341,790	)		(348,812	)		(344,899	)		(377,265	)
		402,529			410,850			428,021			452,482			510,143
Construction in progress		56,594			52,429			47,002			40,394			31,772
Net property and equipment		459,123			463,279			475,023			492,876			541,915
Right-of-use asset - operating leases		933			929			982			903			1,179
Right-of-use asset - finance leases		14			17			19			22			25
Investments, at equity, and advances to 50% or less owned companies		3,009			2,951			2,938			2,707			2,310
Other assets		1,925			1,913			1,855			1,686			1,558
Total assets	$	633,324		$	640,747		$	660,601		$	692,498		$	680,030
LIABILITIES AND EQUITY
Current Liabilities:
Current portion of operating lease liabilities	$	549		$	481		$	405		$	510		$	543
Current portion of finance lease liabilities		12			12			12			11			11
Current portion of long-term debt		30,699			30,350			30,000			30,000			30,000
Accounts payable		14,229			16,355			21,268			25,928			26,737
Other current liabilities		25,279			25,476			19,044			24,702			24,182
Total current liabilities		70,768			72,674			70,729			81,151			81,473
Long-term operating lease liabilities		559			470			607			567			812
Long-term finance lease liabilities		3			5			8			11			14
Long-term debt		289,503			297,072			304,644			311,858			310,980
Deferred income taxes		19,580			18,894			19,376			20,609			18,330
Deferred gains and other liabilities		599			3,794			565			639			625
Total liabilities		381,012			392,909			395,929			414,835			412,234
Equity:
SEACOR Marine Holdings Inc. stockholders’ equity:
Common stock		284			284			280			281			281
Additional paid-in capital		474,395			473,241			471,862			470,228			468,669
Accumulated deficit		(220,956	)		(224,249	)		(208,444	)		(193,822	)		(202,816	)
Shares held in treasury		(11,470	)		(11,428	)		(9,691	)		(9,639	)		(9,639	)
Accumulated other comprehensive income, net of tax		9,738			9,669			10,344			10,294			10,980
		251,991			247,517			264,351			277,342			267,475
Noncontrolling interests in subsidiaries		321			321			321			321			321
Total equity		252,312			247,838			264,672			277,663			267,796
Total liabilities and equity	$	633,324		$	640,747		$	660,601		$	692,498		$	680,030

SEACOR MARINE HOLDINGS INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands)

	Three Months Ended
	Jun. 30, 2026			Mar. 31, 2026			Dec. 31, 2025			Sep. 30, 2025			Jun. 30, 2025
Cash Flows from Operating Activities:
Net Income (Loss)	$	3,293		$	(15,805	)	$	(14,622	)	$	8,994		$	(6,727	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization		10,718			10,330			10,045			12,125			12,090
Deferred financing costs amortization		43			42			173			(86	)		43
Stock-based compensation expense		1,132			1,383			1,633			1,559			1,510
Debt discount amortization		237			236			243			236			232
Allowance for credit losses		64			57			(620	)		627			(213	)
Gains from equipment sales, retirements or impairments		(31,347	)		(7,448	)		(8,210	)		(30,230	)		(19,163	)
Derivative losses (gains)		—			—			73			(17	)		(87	)
Interest on finance lease		—			1			1			1			1
Settlements on derivative transactions, net		—			—			65			—			—
Currency losses (gains)		981			(478	)		38			(218	)		2,119
Deferred income taxes		686			(482	)		(1,233	)		2,279			(1,982	)
Equity earnings		(56	)		(50	)		(231	)		(393	)		(218	)
Dividends received from equity investees		—			—			—			—			3,199
Changes in Operating Assets and Liabilities:
Accounts receivables		5,763			(5,735	)		12,222			(6,700	)		284
Other assets		1,415			(1,306	)		(1,530	)		1,385			1,901
Accounts payable and accrued liabilities		(6,107	)		4,122			(10,246	)		(221	)		4,934
Net cash used in operating activities		(13,178	)		(15,133	)		(12,199	)		(10,659	)		(2,077	)
Cash Flows from Investing Activities:
Purchases of property and equipment		(6,429	)		(6,088	)		(8,427	)		(9,348	)		(10,213	)
Proceeds from disposition of property and equipment		44,737			12,778			13,087			76,068			31,592
Net cash provided by investing activities		38,308			6,690			4,660			66,720			21,379
Cash Flows from Financing Activities:
Payments on long-term debt		(7,500	)		(7,500	)		(7,500	)		(7,500	)		(7,500	)
Proceeds from issuance of long-term debt, net of debt discount and issuance costs		—			—			—			8,098			8,097
Payments on finance leases		(4	)		(3	)		(4	)		(3	)		(4	)
Payments for repurchase of common stock		—			—			—			—			(7,089	)
Payments for repurchase of warrants		—			—			—			—			(6,668	)
Excise tax on stock repurchase		22			—			—			—			—
Tax withholdings on restricted stock vesting		(42	)		(1,737	)		(52	)		—			(11	)
Net cash (used in) provided by financing activities		(7,524	)		(9,240	)		(7,556	)		595			(13,175	)
Effects of Exchange Rate Changes on Cash, Restricted Cash and Cash Equivalents		2			(1	)		3			(3	)		—
Net Change in Cash, Restricted Cash and Cash Equivalents		17,608			(17,684	)		(15,092	)		56,653			6,127
Cash, Restricted Cash and Cash Equivalents, Beginning of Period		75,432			93,116			108,208			51,555			45,428
Cash, Restricted Cash and Cash Equivalents, End of Period	$	93,040		$	75,432		$	93,116		$	108,208		$	51,555

SEACOR MARINE HOLDINGS INC. UNAUDITED FLEET COUNTS

	Owned		Total
June 30, 2026
FSV		20		20
PSV		15		15
Liftboats		3		3
		38		38
December 31, 2025
FSV		21		21
PSV		18		18
Liftboats		5		5
		44		44