Filing Flows › Seacor Marine Holdings (SMHI) › Q1 2026
Seacor Marine Holdings (SMHI) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 29, 2026
Seacor Marine Holdings (SMHI) reported revenue of $44.3M for the first quarter 2026 (Q1 2026), -20% from a year earlier and -15% from the quarter before. Operating margin was -14.4%, net loss $15.8M (35.7% of revenue).
Seacor Marine Holdings, Q1 2026: revenue $44.3M (-20% year over year), operating margin -14.4%, net loss $15.8M, operating cash flow −$15.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $44.3M | -15% | -20% |
| Operating profit | −$6.4M | — | — |
| Net earnings | −$15.8M | — | — |
| Operating cash flow | −$15.1M | — | — |
What changed
Revenue was $44.3M in Q1 2026, down 20% year over year and down 15% from the previous quarter. Time Charter was the largest line at 95% of revenue. Time Charter lost $10.0M year over year (down 19%), 89% of the total change.
Gross margin was 15.2%, down 9.3 points from Q1 2025. Operating costs exceeded revenue by $6.4M, an operating margin of -14.4%. Operating expenses fell 30% while revenue fell 20%. The quarter ended with a net loss of $15.8M, wider than the previous quarter's $14.6M loss.
Operating cash flow was −$15.1M. Non-cash charges added back $10.3M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items used $11.0M. Capital expenditures of $6.1M exceeded it, leaving free cash flow of −$21.2M.
Questions
What was Seacor Marine Holdings' revenue in the first quarter 2026?
Seacor Marine Holdings (SMHI) reported revenue of $44.3M for the first quarter 2026 (Q1 2026), -20% from a year earlier and -15% from the quarter before.
Was Seacor Marine Holdings profitable in the first quarter 2026?
Operating loss was $6.4M (-14.4% of revenue) and net loss $15.8M.