 FORT LAUDERDALE, Fla., July 27, 2020 GLOBE NEWSWIRE -- SEACOR Holdings Inc. NYSE:CKH the Company today announced its results for the second quarter ended June 30, 2020: Net income attributable to stockholders for the quarter ended June 30, 2020 was 7.9 million 0.39 per diluted share compared with 14.6 million 0.76 per diluted share for the quarter ended June 30, 2019. The prior year quarter included 10.5 million 0.53 per diluted share of net mark-to-market gains on marketable securities. Operating income for the quarter ended June 30, 2020 was 13.7 million compared with 11.1 million for the quarter ended June 30, 2019. Cash Earnings for the quarter ended June 30, 2020 were 19.2 million compared with 32.9 million for the quarter ended June 30, 2019. Cash Earnings in the current year quarter is net of 7.5 million in cash income taxes, and Cash Earnings in the prior year quarter benefited from 13.3 million of unrealized mark-to-market gains on marketable securities.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 quarters results and impact of COVID-19 as follows:I am pleased that all of our businesses have continued to perform their essential services in the face of the unprecedented challenges presented by COVID-19. As I stated last quarter, our first and most important operational priority is, at all times and in all circumstances, the safety and well-being of our more than 2,000 employees and those with whom they interact, and, of course, also the environment.We have begun to see an uptick in activity in some of our businesses that were adversely impacted. SEACOR Island Lines, our liner and logistics support for the Bahamas and Caribbean, began to experience increased demand in the last half of the quarter. Although activity is not back to pre-pandemic levels, it is considerably better than in April. I hope that the recent imposition of travel restrictions limiting access of American flights to the Bahamas does not constitute a setback. Waterman Logistics, our Government Services group, suffered from weaker demand following the U.S. military instituting a moratorium in late March on movements of cargo handled by vessels such as ours. Atypically, there were no cargo movements for our vessels during the entire quarter. We now see the military again shipping cargoes. Seabulk Towing, our harbor ship assist business, was also impacted due to the overall reduction of ship calls in its port network. Activity has improved modestly from mid-April but lags pre-COVID-19 levels. Our inland business performed better this year than last, even after adjusting for the sale of 39 barges. Another positive development was Witt OBriens expanding its business, playing a critical role helping over 60 governments, healthcare organizations, and educational institutions to access and deploy federal COVID-19 funds made available through the CARES Act and by FEMA. It has also been supporting our corporate clients worldwide as they manage their pandemic response. It is particularly gratifying that Witt OBriens practitioners are helping schools, hospitals and communities cope during these challenging times.As a management team we continue to monitor the impacts of the pandemic on our operations and adjust as necessary to protect our long-term sustainability.The Operating Discussion below is a comparison of results for the quarter ended June 30, 2020 with the prior year quarter ended June 30, 2019.Operating DiscussionOcean Transportation Logistics Services - Operating income and OIBDA were 9.3 million and 19.6 million in the current year quarter compared with 19.1 million and 23.2 million, respectively. Operating results for SEACOR Island Lines, Waterman Logistics and Seabulk Towing were all negatively impacted by the COVID-19 pandemic.Freight demand into the Bahamas and the Turks and Caicos saw a sharp decline in early April when shelter in place orders were in effect globally. In mid-May, freight demand began to rebound although activity remains below pre-pandemic levels. Waterman Logistics, experienced weaker demand following the U.S. military instituting a cargo moratorium. During the second quarter, there was no new U.S. military cargo movement. In addition, one of Waterman Logistics PCTCs was dry-docked during the quarter. Harbor towing and bunkering also experienced a reduction in ship calls in its port network.Operating results for SEA-Vista improved as there was no out-of-service time for its fleet. The improvement was offset by higher repair and maintenance costs and associated downtime for one of the Jones Act dry bulk carriers in advance of two consecutive relief aid voyage charters.Inland Transportation Logistics Services - Operating income and OIBDA were 8.4 million and 14.4 million, respectively, in the current year quarter compared with an operating loss of 1.5 million and OIBDA of 4.2 million in the prior year quarter. Operating income and OIBDA included gains on asset dispositions of 8.1 million and 0.3 million in the current year quarter and prior year quarter, respectively. Excluding gains on asset dispositions, operating income increased 2.2 million compared with the prior year quarter.Operating income for the Companys terminals and fleeting locations was better primarily due to increased activity levels. In the prior year quarter, the St. Louis harbor was closed for 45 days due to flooding, a negative impact on both revenues and operating costs. Operating income for SEACOR AMH, the Companys container on barge operation, also improved primarily due to a reduction in barge logistics and stevedoring costs and savings related to the acquisition of two towboats, which replaced a chartered-in boat. Collectively, these service offerings had a positive incremental contribution of 3.8 million compared with the prior year quarter.These increases were partially offset by lower operating income from bulk transportation activities. The dry-cargo barge pools continue to be impacted by lower demand for grain movements from continuing trade issues with China, and also depressed commodity prices and the option to take government subsidies, both of which are a disincentive to producers selling to commercial markets. Our international liquid tank barge operation was also hurt by COVID-19, moving less volumes due to a countrywide lockdown.Witt OBriens - Operating income and OIBDA were 2.8 million and 3.1 million in the current year quarter compared with 1.0 million and 1.2 million, respectively. The improvement was primarily due to lower reserves for bad debts and reduced headcount, which was more effectively utilized.Capital Commitments - The Companys capital commitments as of June 30, 2020 were 57.9 million and included four U.S.-flag harbor tugs, the Companys interest in two foreign-flag rail ferries, six inland river dry-cargo barges, one inland river towboat, other equipment and vessel and terminal improvements.Liquidity and Debt - During the current year quarter, the Company repurchased 12.9 million in principal amount of its 2.5 Convertible Senior Notes for 10.9 million.As of June 30, 2020, the Companys balances of cash, cash equivalents, restricted cash, restricted cash equivalents, and marketable securities totaled 135.9 million. As of June 30, 2020, total outstanding debt was 284.5 million, and the Company had 225.0 million of borrowing capacity under its credit facilities.Equity - As of June 30, 2020, the total shares outstanding were 20,339,641.SEACOR Holdings Inc. SEACOR is a diversified holding company with interests in domestic and international transportation and logistics, crisis and emergency management, and clean fuel and power solutions. SEACOR is publicly traded on the New York Stock Exchange NYSE under the symbol CKH.Certain statements discussed in this release as well as in other reports, materials and oral statements that the Company releases from time to time to the public constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as anticipate, estimate, expect, project, intend, believe, plan, target, forecast and similar expressions are intended to identify forward-looking statements. Such forward-looking statements concern managements expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. Forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or expected by management of the Company. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. 