Eneti Inc. to announce fourth-quarter 2021 results

Eneti Inc.

Eneti Inc. plans to announce fourth-quarter 2021 financial results in a press release. The announcement is intended to be issued before the market opens on Wednesday, February 23, 22. There will also be a conference call held at 9:00 AM Eastern Standard Time to discuss the company’s results and a simultaneous live webcast through the Eneti Inc. website.

As part of its strategy, Eneti Inc. has invested in the next generation of wind turbine installation vessels. By doing this, it can build a meaningful and sustainable business in marine-based renewable energy. As well as deliver sustainable long-term value to its stakeholders.

About the fourth quarter

The fourth quarter covers the months of October, November, and December of 2021. During this period of time, a lot of notable things happened. On one hand, the company’s purchase of common shares in November.

On the other hand, there was the signing of a contract between Seajacks UK and Van Oord, supporting European offshore wind. Seajacks UK is a wholly-owned subsidiary of Eneti Inc. It is a leading provider of installation and maintenance vessels to the offshore wind sector. Also, during that same month, its Board of Directors declared a quarterly cash dividend of $0.01 per share on the company’s common share.

Also recommended for you: Seajacks UK signs offshore wind vessel contract with Van Oord. Click here to read.

2021’s third-quarter results

Eneti Inc.’s  GAAP net loss was $0.9 million, or $0.06 per diluted share. The total vessel revenues for this period of time were $34.4 million, compared to $46.7 million in 2020. Wind turbine installation vessels are the primary generators of these revenues. The remaining dry bulk vessels owned or chartered by the company got delivered or redelivered to their buyers or owners.

The earnings before interest, taxes, depreciation and amortization (“EBITDA”) were $14.1 million. The EBITDA for the third quarter of 2020 was a loss of $13.9 million.

About Eneti Inc.

Scorpio Bulkers Inc. is what we now know as Eneti Inc. On March 20, 2013, the Marshall Islands incorporated Eneti Inc. On August 2, 2020, the company announced its intention to transition away from the dry bulk commodity transportation business. It finally completed the transition in July 2021. Since then, the company has focused on the offshore and marine-based renewable energy industry.

The company counts with two offices; its principal executive office is located in Monaco. There is also the executive office based in New York, NY.

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