HOUSTON - SEACOR Marine Holdings Inc . (NYSE:SMHI), a major player in marine and support transportation services for offshore energy, announced the expansion of its Board of Directors from five to six members, appointing Lisa P. Young as an independent member. Young, with a 36-year career spanning various sectors internationally, is a retired senior partner from Ernst & Young.
Young's extensive experience includes her recent role as a Senior Global Client Service Partner until 2021. She has been a board member and audit committee chair for Valo Health, Inc. since December 2023 and has been serving on the board of Accelus Inc. since January 2022. Her tenure on the board of Textainer Group Holdings (NYSE:TGH) Limited ended in March 2024 when the company went private.
In addition to her corporate roles, Young contributes to the arts and education, holding positions with the Columbus Museum of Art, Dallas Black Dance Theatre, FringeArts in Philadelphia, and the advisory council of Texas Tech University Rawls College of Business. She is a Certified Public Accountant with a BBA in Finance and Accounting from Texas Tech University.
Andrew Morse, Chairman of SEACOR Marine, welcomed Young, citing her knowledge and successful leadership track record as valuable assets for the company's future endeavors. SEACOR Marine operates a diverse fleet of support vessels catering to offshore installations, including wind farms, and provides emergency response services.
The company's forward-looking statements, as per the Private Securities Litigation Reform Act of 1995, reflect management's expectations and projections, subject to risks, uncertainties, and other factors that could cause actual results to differ. SEACOR Marine advises consulting further disclosures in its SEC filings for additional information. This expansion news is based on a press release statement from SEACOR Marine Holdings Inc.
InvestingPro Insights
SEACOR Marine Holdings Inc. (NYSE:SMHI) has recently expanded its board amidst a challenging financial landscape. According to InvestingPro data, SMHI has a market capitalization of $283.96 million and is trading at an adjusted P/E ratio of -6.46, indicating that investors are currently valuing the company at less than its net income over the last twelve months as of Q2 2024. This could be a reflection of the market's response to the company's financial performance and future earnings potential.
InvestingPro Tips highlight that SEACOR Marine operates with a significant debt burden and analysts do not expect the company to be profitable this year. Furthermore, SEACOR Marine is trading at a high EBIT valuation multiple and does not pay a dividend, which may be important considerations for investors seeking income or those concerned about the company's ability to service its debt.
On a positive note, SEACOR Marine's liquid assets exceed its short-term obligations, suggesting that the company maintains sufficient liquidity to meet its immediate financial needs. Additionally, the company has experienced a revenue growth of 14.31% over the last twelve months as of Q2 2024, which may interest investors looking for companies with an expanding top-line.
For those interested in a deeper dive into SEACOR Marine's financial health and future prospects, InvestingPro offers additional tips that can be accessed at InvestingPro for SMHI. With a total of seven InvestingPro Tips available, investors can gain a more comprehensive understanding of the company's strengths and challenges.
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