Dorchester Minerals ( (DMLP) ) has released its Q4 earnings. Here is a breakdown of the information Dorchester Minerals presented to its investors.
SEACOR Marine Holdings Inc., a leading provider of marine and support transportation services to offshore energy facilities worldwide, announced its fourth-quarter 2024 financial results. The company operates a diverse fleet of offshore support vessels, delivering essential services to offshore installations, including wind farms and energy facilities.
In the fourth quarter of 2024, SEACOR Marine reported consolidated operating revenues of $69.8 million, a slight decrease from $73.1 million in the same quarter of 2023. The company faced a net loss of $26.2 million, compared to a net income of $5.7 million in the previous year. Notably, the company achieved a 72% fleet utilization rate, an improvement from previous quarters, and successfully refinanced $328.7 million of its debt, extending maturities to 2029.
Key financial metrics highlighted in the report include an average day rate increase of 4.8% compared to the fourth quarter of 2023, and a direct vessel profit margin of 33.1%. The company also completed the sale of two anchor handling towing supply vessels, generating $22.5 million in proceeds to fund new construction projects. Despite a challenging market environment, SEACOR Marine’s strategic refinancing and asset sales are aimed at strengthening its financial position.
Looking ahead, SEACOR Marine’s management remains optimistic about the company’s prospects, despite facing regulatory and financial challenges in certain regions. The company plans to focus on maximizing fleet utilization and expanding its fleet with modern, fuel-efficient vessels to meet current and future demand. The management’s strategic initiatives are expected to position SEACOR Marine favorably in the evolving offshore energy market.