Traders Attention Alert: Seacor Holdings Inc. (NYSE: CKH)

Seacor Holdings Inc. stock identified change of 22.26% away from 52-week low price and recently located move of -17.66% off 52-week high price. It has market worth of $869.04M. CKH stock has been recorded -9.05% away from 50 day moving average and -6.23% away from 200 day moving average. Moving closer, we can see that shares have been trading -6.09% off 20-day moving average.

SEACOR Holdings Inc. (CKH) recently reported its results for the quarter ended September 30, 2019:

  • Net income attributable to stockholders was $6.4M ($0.32 per diluted share) contrast with $17.1M ($0.88 per diluted share) for the quarter ended September 30, 2018.  The previous year quarter included $5.5M ($0.26 per diluted share) related to the amortization of before deferred gains and net mark-to-market gains on marketable securities.
  • “Cash Earnings” were $27.7M contrast with $30.0M for the same quarter last year.  In the current quarter, “cash earnings” included $4.5M for August and September’s results from the acquisition of our partner’s 49% ownership in SEA-Vista.
  • Operating income attributable to stockholders, was $12.9M contrast with $23.2M for the quarter ended September 30, 2018.  The previous year quarter benefited from the amortization of before deferred gains of $5.3M.

The Company uses the non-GAAP financial measures “Cash Earnings” and OIBDA in this release; a reconciliation to their closest U.S. GAAP measure is included in “Use of non-GAAP Financial Measures” in this release.

Charles Fabrikant, Executive Chairman, commented on the quarter’s results as follows:

“The quarter’s disappointing results were primarily Because of the extremely difficult conditions in the inland transportation and logistics services section and a more typical level of demand for our emergency response services.

The third calendar quarter usually produces improved results in the inland sector contrast with the second quarter, but this quarter the inland river system continued to suffer from the carryover effects of extreme flooding earlier in the year.  Our inland group experienced curtailed demand for fleeting and terminal services, and the barge pool incurred higher costs.  The U.S. trade dispute with China and competition from cheaper grain in South America were additional challenges.  These challenges continue recently.  Corn export demand continues to be dismal with shipments about 60% and export sales about 45% below last year.  Export sales are also lagging.  Brazil, whose share of the soybean export market increased after the commencement of the trade dispute, continues to compete aggressively.

Witt-O’Brien’s higher activity level in the third quarter of last year reflected a multitude of early stage response and recovery task orders following the hurricanes of 2017.  Witt O’Brien’s continues to support the long-term recovery efforts of public sector clients such as the U.S. Virgin Islands as well as expand into the private sector.

 

Capital Commitments – The Company’s capital commitments as of September 30, 2019 were $21.3M and included the Company’s interest in two foreign-flag rail ferries, two inland river towboats, other equipment and vessel and terminal improvements.  Subsequent to September 30, 2019, the Company committed to purchase additional equipment for $0.3M.

Liquidity and Debt – During the current year quarter, the Company repurchased $18.2M in principal amount of its 3.0% Convertible Senior Notes for $18.1M resulting in debt extinguishment losses of $0.8M.

As of September 30, 2019, the Company’s balances of cash, cash equivalents, restricted cash, restricted cash equivalents, marketable securities and construction reserve funds totaled $88.0M.  As of September 30, 2019, the Company had exited its position in Dorian LPG Ltd.  Total outstanding debt was $317.8M, including $25.0M of outstanding borrowings under the Company’s revolving credit facilities, which has subsequently been repaid.  As of September 30, 2019, the Company had $200.0M of borrowing capacity under its credit facilities.

The Basic Materials sector company, Seacor Holdings Inc. noticed change of -1.10% to $42.34 along volume of 20430 shares in recent session compared to an average volume of 93.04K. The stock observed return of -3.58% in 5 days trading activity. The stock was at -9.65% over one-month performance. CKH’s shares are at -5.64% for the quarter and driving a -15.53% return over the course of the past year and is now at 15.70% since this point in 2018.   The average volatility for the week at 3.35% and for month was at 3.33%. There are 20.3M shares outstanding and 18.9M shares are floated in market. Right now, the stock beta is 0.81.