Seatrium Limited (SMBMF)
OTHER OTC:SMBMF
Earnings Data
Report Date
Jun 03, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.03Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a clearly constructive picture: material top-line growth, more than doubled net profit, substantial margin improvement and stronger cash generation (particularly when excluding legacy one-offs). Management emphasized a higher-quality order book (95% Series-Build), large pipeline ($32 billion), completed project milestones (P-78, Empire Wind) and active divestments that bolster liquidity and reduce costs. Challenges noted were manageable in scale relative to positives — provisions (~$96.5 million) tied to a small set of legacy projects, one delayed naval project (NApAnt to 2027), softer repairs/upgrade activity, and some timing/FDI uncertainty in converting pipeline opportunities. On balance, highlights significantly outweigh the lowlights, supporting an overall positive outlook while recognizing conversion and legacy timing risks.Company Guidance
Strong Revenue Growth
Revenue increased ~24% year-on-year to $11.5 billion (FY2025 vs $9.2 billion FY2024), driven by disciplined execution across a diversified order book.
Net Profit More Than Doubled
Net profit rose to $324 million from $157 million in FY2024 (more than double), reflecting margin expansion and cost discipline.
Significant Margin Improvement
Gross profit increased to $848 million and gross margin expanded to 7.4% from 3.1% (up ~430 basis points YoY), driven by improved project mix, higher utilization and productivity gains.
Cash Flow and Free Cash Flow Recovery
Operating cash flow excluding one-offs rose ~4.5x to $440 million; reported operating cash flow was $142 million (up ~46% YoY). Free cash flow excluding one-offs doubled to $443 million.
Robust Orderbook and Large Pipeline
Net order book stood at $17.8 billion at 31 Dec 2025 (equivalent to >1.5x FY2025 revenue); secured over $4 billion of new orders in FY2025 and actively pursuing a $32 billion pipeline.
High-Quality Orderbook Composition
Approximately 95% of the net order book comprises Series-Build projects (lower execution risk); non-FPSO legacy projects now represent just over 1% of the net order book.
Operational Project Milestones
FPSO P-78 achieved first oil on 31 Dec 2025 with first gas expected in Q1 2026; Empire Wind >97% complete and on track for delivery in the year, demonstrating One Seatrium global delivery capability.
Cost Savings, Synergies and Asset Optimization
Exceeded previously stated synergy and procurement targets; G&A as % of revenue declined to 3.0% (from 3.5%); divestments completed and planned to unlock >$330 million cash proceeds (with $110 million received in FY2025) and expected annualized cost savings of >$50 million from announced transactions.
Improved Funding and Capital Allocation
Gross debt reduced ~5% YoY to $2.5 billion and average cost of debt lowered to 3.4% (from 4.9%). Liquidity remains strong with $3.1 billion in cash and undrawn facilities. Management proposed doubling the dividend to $0.03 per share and to continue a $100 million buyback program.
Strategic Wins and Market Expansion
Won DolWin 5 (HVDC) and entered Japanese offshore-wind collaboration with Penta Ocean. Secured LOI with Karpowership for integration of powerships and conversion opportunities, supporting diversification into adjacent higher-value segments.
SMBMF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SMBMF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $1.80 | $1.80 | 0.00% |
Nov 12, 2025 | $1.70 | $1.70 | 0.00% |
Jul 30, 2025 | $1.89 | $1.89 | 0.00% |
May 28, 2025 | $1.75 | $1.75 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Seatrium Limited (SMBMF) report earnings?
Seatrium Limited (SMBMF) is schdueled to report earning on Jun 03, 2026, After Close (Confirmed).
What is Seatrium Limited (SMBMF) earnings time?
Seatrium Limited (SMBMF) earnings time is at Jun 03, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What is SMBMF EPS forecast?
Currently, no data Available