8-K

QuickLinks -- Click here to rapidly navigate through this document

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 3, 2004

SEACOR Holdings Inc.(Exact name of registrant as specified in its charter)
DELAWARE(State or other jurisdiction of incorporation)	1-12289(Commission File Number)	13-3542736(IRS Employer Identification No.)

11200 Richmond, Suite 400 Houston, Texas(Address of principal executive offices)	77082(Zip Code)
Registrant's telephone number, including area code: (281) 899-4800
Not Applicable.(Former name or former address, if changed since last report)

Item 7.    Financial Statements, Pro Forma Financial Information and Exhibits.

(c)

Exhibits.

Exhibit No.	Exhibit
99.1	Press Release of SEACOR Holdings Inc., dated May 3, 2004, reporting SEACOR's financial results for the first quarter of 2004.

Item 12.    Results of Operations and Financial Condition.

        On May 3, 2004, SEACOR Holdings Inc. issued a press release announcing its financial results for the first quarter of 2004. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.

2

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SEACOR Holdings Inc.
Date of report: May 3, 2004	By:	/s/  LENNY P. DANTIN Name:  Lenny P. Dantin Title:    Vice President and Chief Accounting Officer

3

EXHIBIT INDEX

Exhibit No.	Exhibit
99.1	Press Release of SEACOR Holdings Inc., dated May 3, 2004, reporting SEACOR's financial results for the first quarter of 2004.

QuickLinks

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
Item 12. Results of Operations and Financial Condition.

SIGNATURES
EXHIBIT INDEX

EX-99.1

QuickLinks -- Click here to rapidly navigate through this document

Exhibit 99.1

PRESS RELEASE

SEACOR HOLDINGS ANNOUNCES FIRST QUARTER RESULTS

HOUSTON, TEXAS
May 3, 2004

FOR IMMEDIATE RELEASE—SEACOR Holdings Inc. (NYSE:CKH) announced a net loss for the first quarter ended March 31, 2004 of $3.0 million, or $0.16 per diluted share, on operating revenues of $96.0 million. For the comparable quarter ended March 31, 2003, net earnings were $4.3 million, or $0.22 per diluted share, on operating revenues of $96.9 million.

For the immediately preceding quarter ended December 31, 2003, the Company reported a net loss of $1.7 million, or $0.09 per diluted share, on operating revenues of $101.0 million.

Financial results for the first quarter ended March 31, 2004 as compared to the immediately preceding quarter ended December 31, 2003 were impacted by a variety of factors highlighted below.

•

Decreased operating revenues. Operating revenues for the quarter were $96.0 million, a decrease of $5.0 million from the previous quarter. Offshore Marine Services revenue declined primarily due to a decrease in the size of its fleet and weaker demand for certain classes of its vessels. Inland River Services revenue declined primarily due to less activity, which is typical of the winter months when part of the inland river system is shut down. These declines were partially offset by higher Environmental Services revenue due to an increase in spill response activity.



•

Increased operating loss. Operating loss for the quarter was $8.1 million, an increase of $0.3 million over the prior quarter. Overall reductions in operating and administrative expenses were not sufficient to offset the decline in revenues from Inland River Services and Offshore Marine Services. Operating losses from the Company's aviation and supply chain management operations, included under "Other" in the Company's segmented financials, also increased during the quarter. Environmental Services operating income was generally unchanged between quarters.



•

Decreased income from equipment sales. Equipment sale income of $3.6 million for the quarter decreased $6.0 million from the prior quarter as a result of fewer vessel sales.



•

Increased income from derivative transactions. During the quarter the Company realized $0.1 million of gains compared to a loss of $1.5 million in the fourth quarter. Prior quarter results included a $1.5 million loss with respect to swap agreements on certain of the Company's 7.2% notes. These swap agreements were terminated in the fourth quarter.



•

Decreased foreign currency transaction gains. Foreign currency transaction gains of $0.5 million decreased $3.2 million. In both periods, foreign currency transaction gains resulted primarily from the strengthening of the pound sterling currency against the U.S. dollar with respect to an intercompany loan with a foreign subsidiary.



•

Increased marketable security sale gains. Marketable security sale gains of $2.7 million for the quarter increased $2.0 million from the prior quarter.



•

Decreased income tax rate. Results for the fourth quarter included a $1.9 million charge in connection with valuation allowances provided for foreign tax credits which may expire before utilization. During the first quarter, no additional valuation allowances were provided.

•

Increased equity earnings. During the quarter the Company realized equity income of $0.6 million as compared to a loss of $0.1 million in the prior quarter. The effect on income of improved offshore marine joint venture business activities in Mexico and Venezuela was partially offset by a $0.5 million first quarter write-down in the carrying value of one of the Company's investments.

First quarter results included the drydock and repair of 20 vessels for an aggregate cost of $2.9 million and the overhaul of 24 engines resulting in main engine repair costs of $3.0 million.

During the quarter, Offshore Marine Services sold 12 vessels with a carrying value of $2.8 million, including 9 from its "retired from service" utility fleet. During the quarter, 1 towing supply vessel and 1 geophysical vessel were added to its "retired from service" fleet. As of March 31, 2004, a total of 19 vessels were retired from service and 9 additional vessels were out of service due to weak customer demand.

During the quarter, 2 new offshore support vessels, 22 new dry cargo covered hopper barges and 1 new helicopter were delivered to the Company for aggregate consideration of $33.0 million.

The Company's remaining capital commitments at March 31, 2004 for 7 new and 1 used vessel, 308 new dry cargo hopper barges, 24 new chemical tank barges and 3 new helicopters totaled $128.0 million, with deliveries expected throughout 2004. The Company also holds options to purchase 150 new dry cargo hopper barges for delivery in 2005.

During the quarter, the Company acquired 99,057 shares of its common stock for treasury at an aggregate cost of $4.1 million pursuant to a stock and debt repurchase plan. As of March 31, 2004, $54.1 million of authority remains available for future purchases of SEACOR's stock and 5⁷/8% and 7.2% notes.

At March 31, 2004, the Company's cash, marketable securities and construction reserve funds totaled $441.5 million, an increase of $3.4 million from the prior quarter. At March 31, 2004, the Company's long-term debt totaled $332.2 million, unchanged as compared to the prior quarter.

SEACOR and its subsidiaries are engaged in the operation of a diversified fleet of offshore support vessels that service oil and gas exploration and development activities in the U.S. Gulf of Mexico, the North Sea, West Africa, Asia, Latin America and other international regions. Other business activities primarily include environmental services, inland river operations, and offshore aviation services.

This release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements concerning management's expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of results to differ materially from any future results, performance or achievements discussed or implied by such forward-looking statements. Such risks, uncertainties and other important factors include, among others: the cyclical nature of the oil and gas industry, adequacy of insurance coverage, currency exchange fluctuations, changes in foreign political, military and economic conditions, the ongoing need to replace aging vessels, dependence of offshore marine operations on several customers, dependence of spill response revenue on the number and size of spills and upon continuing government regulation in this area and our ability to comply with such regulation and other governmental regulation, industry fleet capacity, changes in foreign and domestic oil and gas exploration and production activity, competition, vessel-related risks, effects of adverse weather conditions and seasonality on aviation services, helicopter related risks, effects of adverse weather and river conditions and seasonality on inland river operations, the level of grain export volume, the effect of fuel prices on barge towing costs, variability in freight rates for inland river barges, changes in the Company's environmental services segment OSRO classification, liability in connection with providing spill response services, restrictions imposed by the Shipping Act of 1916 and the Merchant Marine Act of 1920 on the amount of foreign ownership of the

2

Company's common stock, the effect of international economic and political factors in inland river operations and various other matters, many of which are beyond the Company's control and other factors. The words "estimate," "project," "intend," "believe," "plan" and similar expressions are intended to identify forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are made. We disclaim any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in our expectations or any change in events, conditions or circumstances on which the forward-looking statement is based. The forward-looking statements in this release should be evaluated together with the many uncertainties that affect our businesses, particularly those mentioned under "Forward-Looking Statements" in Item 7 of our Form 10-K and SEACOR's periodic reporting on Form 10-Q and Form 8-K (if any), which we incorporate by reference.

For additional information, contact Randall Blank, Executive Vice President and Chief Financial Officer, at (281) 899-4800 or (212) 307-6633 or visit SEACOR's website at www.seacorholdings.com.

3

SEACOR Holdings Inc. and Subsidiaries
Consolidated Statements of Operations
(in thousands, except per share data, unaudited)

		Three Months Ended March 31,
		2004			2003
Operating Revenues		$	95,974		$	96,860
Costs and Expenses:
	Operating expenses		75,030			67,100
	Administrative and general		15,076			14,079
	Deprecation and amortization		13,961			14,636
			104,067			95,815
Operating Income (Loss)			(8,093	)		1,045
Other Income (Expense):
	Interest income		1,379			2,556
	Interest expense		(5,378	)		(5,506	)
	Debt extinguishments		—			(1,125	)
	Income from equipment sales or retirements, net		3,638			5,147
	Derivative income (loss), net		79			1,749
	Foreign currency transaction gains, net		466			535
	Marketable securities sale gains, net		2,749			2,191
	Other, net		119			3
			3,052			5,550
Income (Loss) Before Taxes, Minority Interest and Equity in Earnings of 50% or Less Owned Companies			(5,041	)		6,595
Income Taxes			(1,502	)		2,399
Income (Loss) Before Minority Interest and Equity in Earnings of 50% or Less Owned Companies			(3,539	)		4,196
Minority Interest in Net (Income) Loss of Subsidiaries			5			(98	)
Equity in Earnings of 50% or Less Owned Companies			570			246
Net Income (Loss)		$	(2,964	)	$	4,344
Earnings Per Common Share:
	Basic	$	(0.16	)	$	0.22
	Diluted (1)		(0.16	)		0.22
Weighted Average Common Shares Outstanding:
	Basic		18,468			19,775
	Diluted (1)		18,468			20,362

(1)

Outstanding stock options and restricted stock have been excluded from the computations of diluted earnings per common share and diluted weighted average common shares for the three months ended March 31, 2004 as the effect was anti-dilutive.

4

SEACOR Holdings Inc. and Subsidiaries
Supplemental Data
(in thousands, except per share data, unaudited)

			Three Months Ended
			Mar. 31, 2004			Dec. 31, 2003			Sep. 30, 2003			Jun. 30, 2003			Mar. 31, 2003
Statements of Operations:
	Operating Revenues		$	95,974		$	100,956		$	103,234		$	105,159		$	96,860
	Cost and Expenses:
		Operating expenses		75,030			78,504			72,264			69,422			67,100
		Administrative and general		15,076			16,538			13,676			13,391			14,079
		Depreciation and amortization		13,961			13,751			13,411			13,708			14,636
				104,067			108,793			99,351			96,521			95,815
	Operating Income (Loss)			(8,093	)		(7,837	)		3,883			8,638			1,045
	Other Income (Expense):
		Interest income		1,379			1,565			1,540			1,870			2,556
		Interest expense		(5,378	)		(4,785	)		(4,603	)		(4,419	)		(5,506	)
		Debt extinguishments		—			—			—			(966	)		(1,125	)
		Income from equipment sales or retirements, net		3,638			9,612			2,349			414			5,147
		Derivative income (loss), net		79			(1,541	)		(443	)		2,624			1,749
		Foreign currency transaction gains (losses), net		466			3,625			(1,714	)		1,294			535
		Marketable securities gains, net		2,749			743			2,411			1,250			2,191
		Other, net		119			106			(15	)		(747	)		3
				3,052			9,325			(475	)		1,320			5,550
	Income (Loss) Before Taxes, Minority Interest and Equity Earnings in 50% or Less Owned Companies			(5,041	)		1,488			3,408			9,958			6,595
	Income Taxes			(1,502	)		3,067			1,334			3,596			2,399
	Income (Loss) Before Minority Interest and Equity Equity in 50% or Less Owned Companies			(3,539	)		(1,579	)		2,074			6,362			4,196
	Minority Interest in Net (Income) Loss of Subsidiaries			5			(66	)		(112	)		(241	)		(98	)
	Equity in Earnings of 50% or less Owned Companies			570			(85	)		935			322			246
	Net Income (Loss)		$	(2,964	)	$	(1,730	)	$	2,897		$	6,443		$	4,344
Earnings Per Common Share:
	Basic		$	(0.16	)	$	(0.09	)	$	0.16		$	0.34		$	0.22
	Diluted(1)			(0.16	)		(0.09	)		0.15			0.33			0.22
Weighted Average Common Shares Outstanding:
	Basic			18,468			18,509			18,630			19,155			19,775
	Diluted(1)			18,468			18,509			18,785			19,316			20,362
Common Shares Outstanding at Period End				18,533			18,581			18,729			18,793			19,615

(1)

Outstanding stock options and restricted stock have been excluded from the computation of diluted earnings per common share and diluted weighted average common shares for each of the three month periods ended March 31, 2004 and December 31, 2003 as the effect was anti-dilutive.

5

SEACOR Holdings Inc. and Subsidiaries
Supplemental Data
(unaudited)

			Three Months Ended
			Mar. 31, 2004			Dec. 31, 2003			Sep. 30, 2003			Jun. 30, 2003			Mar. 31, 2003
Balance Sheet Data, at period end (in thousands):
	Cash, Securities, Construction Reserve Funds		$	441,502		$	438,131		$	428,372		$	431,796		$	498,075
	Total Assets			1,401,426			1,402,611			1,370,630			1,379,700			1,401,710
	Total Long-term Debt			332,225			332,179			332,213			332,187			343,058
	Stockholders' Equity			766,529			770,446			768,530			772,563			789,971
Operating Revenues by Segment (in thousands):
	Offshore marine services		$	66,292		$	74,262		$	81,194		$	79,553		$	81,107
	Environmental services			16,392			11,732			10,625			15,551			6,137
	Inland river services			8,576			10,728			7,247			5,044			4,840
	Other			6,705			5,328			4,803			5,422			5,187
	Intersegment eliminations			(1,991	)		(1,094	)		(635	)		(411	)		(411	)
			$	95,974		$	100,956		$	103,234		$	105,159		$	96,860
Operating Income (Loss) by Segment (in thousands):
	Offshore marine services		$	(4,378	)	$	(5,652	)	$	3,432		$	5,286		$	3,312
	Environmental services			957			894			3,419			5,131			(399	)
	Inland river services			943			2,523			970			1,156			884
	Other			(2,610	)		(1,893	)		(1,122	)		(156	)		(146	)
	Corporate expenses			(3,005	)		(3,709	)		(2,816	)		(2,779	)		(2,606	)
			$	(8,093	)	$	(7,837	)	$	3,883		$	8,638		$	1,045
Offshore Marine Vessels — Available Days(1):
	Anchor handling towing supply -
		Domestic		304			460			460			455			450
		Foreign		724			890			1,012			1,001			1,058
	Supply -
		Domestic		790			831			920			1,026			1,260
		Foreign		910			1,061			1,104			995			931
	Towing -
		Domestic		273			184			184			253			304
		Foreign		1,026			1,095			1,196			1,140			1,245
	Crew			6,188			6,321			6,699			6,654			6,843
	Geophysical, freight and other			91			92			92			91			90
	Mini-supply			2,730			2,760			2,760			2,730			2,700
	Standby safety			1,911			1,871			1,840			1,820			1,818
	Utility			—			2,581			3,253			3,417			3,428
				14,947			18,146			19,520			19,582			20,127

(1)

Excludes vessels that are bareboat chartered-out, vessels owned by corporations that participate in pooling arrangements with the Company, minority owned joint venture vessels and managed vessels.

6

SEACOR Holdings Inc. and Subsidiaries

Supplemental Data

(unaudited)

			Three Months Ended
			Mar. 31, 2004			Dec. 31, 2003			Sep. 30, 2003			Jun. 30, 2003			Mar. 31, 2003
Offshore Marine Vessels—Rates Per Day Worked:
	Anchor handling towing supply—
		Domestic	$	15,888		$	22,111		$	20,095		$	16,712		$	17,668
		Foreign		8,524			9,212			9,927			10,593			10,110
	Supply—
		Domestic		6,300			6,079			6,062			6,141			6,957
		Foreign		9,067			8,860			8,926			9,615			9,443
	Towing—
		Domestic		6,055			6,091			6,093			6,290			6,424
		Foreign		6,586			6,577			7,236			7,050			7,146
	Crew			3,297			3,323			3,257			3,153			3,158
	Geophysical, freight and other			—			—			—			—			—
	Mini-supply			2,976			2,992			2,998			3,027			3,102
	Standby safety			7,694			6,933			6,733			6,559			6,537
	Utility			—			1,752			1,774			1,792			1,767
Offshore Marine Vessels—Utilization:
	Anchor handling towing supply—
		Domestic		68.2	%		56.2	%		65.9	%		66.8	%		67.9	%
		Foreign		61.5	%		72.8	%		81.9	%		81.2	%		88.9	%
	Supply—
		Domestic		71.7	%		50.5	%		72.7	%		58.4	%		62.5	%
		Foreign		73.4	%		86.1	%		88.7	%		93.9	%		95.7	%
	Towing—
		Domestic		56.7	%		100.0	%		100.0	%		97.1	%		94.3	%
		Foreign		67.4	%		75.0	%		82.7	%		88.2	%		82.0	%
	Crew			82.8	%		78.5	%		75.9	%		79.9	%		78.9	%
	Geophysical, freight and other			—			—			—			—			—
	Mini-supply			81.7	%		86.3	%		91.6	%		89.4	%		86.8	%
	Standby safety			87.0	%		90.3	%		89.9	%		89.5	%		81.6	%
	Utility			—			52.4	%		58.7	%		56.7	%		55.1	%
	Overall utilization			78.6	%		75.1	%		77.5	%		77.8	%		76.2	%
Inland Barge Days(1)				44,929			44,219			37,648			25,571			23,063
Helicopter Flight Hours				5,750			5,422			5,131			5,889			5,061

(1)

Excludes barges managed by and joint ventured with the Company.

7

SEACOR Holdings Inc. and Subsidiaries
Supplementary Data
(unaudited)

		March 31, 2004
		Owned	Leased-in	Joint Ventured	Pooled/ Managed	Total	Dec. 31, 2003	Sep. 30, 2003	Jun. 30 2003	Mar. 31 2003
Offshore Marine Fleet Count:
Domestic—
	Anchor handling towing supply	1	2	1	—	4	6	5	5	5
	Crew	29	23	1	—	53	53	57	60	62
	Geophysical, freight and other	—	—	—	—	—	1	1	1	1
	Mini-supply	23	4	—	—	27	27	28	28	29
	Standby safety	—	—	—	—	—	—	—	—	—
	Supply	4	3	2	1	10	11	13	13	17
	Towing	—	2	—	—	2	—	—	—	—
	Utility	—	—	—	—	—	—	34	37	38
		57	34	4	1	96	98	138	144	152
Foreign—
	Anchor handling towing supply	13	—	2	—	15	20	21	20	21
	Crew	22	—	11	—	33	34	33	32	30
	Geophysical, freight and other	1	—	1	—	2	3	1	1	1
	Mini-supply	3	—	2	—	5	5	4	4	3
	Standby safety	19	—	3	5	27	27	26	26	26
	Supply	8	2	5	—	15	48	54	53	52
	Towing	13	—	22	—	35	—	—	—	—
	Utility	—	—	—	—	—	—	2	3	3
		79	2	46	5	132	137	141	139	136
Worldwide—
	Anchor handling towing supply	14	2	3	—	19	26	26	25	26
	Crew	51	23	12	—	86	87	90	92	92
	Geophysical, freight and other	1	—	1	—	2	4	2	2	2
	Mini-supply	26	4	2	—	32	32	32	32	32
	Standby safety	19	—	3	5	27	27	26	26	26
	Supply	12	5	7	1	25	59	67	66	69
	Towing	13	2	22	—	37	—	—	—	—
	Utility	—	—	—	—	—	—	36	40	41
		136	36	50	6	228	235	279	283	288
Inland Barges, domestic		382	180	6	224	792	784	735	559	562
Helicopters, domestic		23	18	—	1	42	40	36	36	36

8

QuickLinks

Exhibit 99.1

SEACOR HOLDINGS ANNOUNCES FIRST QUARTER RESULTS
SEACOR Holdings Inc. and Subsidiaries Consolidated Statements of Operations (in thousands, except per share data, unaudited)
SEACOR Holdings Inc. and Subsidiaries Supplemental Data (in thousands, except per share data, unaudited)
SEACOR Holdings Inc. and Subsidiaries Supplemental Data (unaudited)
SEACOR Holdings Inc. and Subsidiaries Supplemental Data (unaudited)
SEACOR Holdings Inc. and Subsidiaries Supplementary Data (unaudited)