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Hercules Sub LLC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2020 10-Q, filed Jul 29, 2020. Its latest SEC filing is a RW from Sep 1, 2026.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Sells offshore marine transportation, subsea installation, and accommodation support services to energy and oilfield-service companies, offshore construction customers, and the U.S. military.

How Did They Make Money?

Customers pay for vessel charters and operations, vessel management for other owners, and shore-based port services. The company invoices monthly, with typical payment terms of 30 to 60 days; services may be provided at once or over time.

FY2019 revenue

Who Were Their Customers?

Energy and oilfield-service companies, the U.S. military, and other users of specialized marine platforms buy its services; these include oceanographic research customers.

Did Revenues Turn Into Profits?

No. It lost $138.8M in FY2019.

Operating income, FY2019
−47% of revenue
▲ +23% (Loss) vs FY2018 (−$87.4M, −41%)
Net income, FY2019
−62% of revenue
▲ +17% (Loss) vs FY2018 (−$119.1M, −56%)

How Were They Changing?

Since the FY2019 annual report
Latest quarter: Q1 FY2020, the three months to Mar 31, 2020
Revenue
▼ −2%
vs $54M in Q1 FY2019
Net income
▲ +59% (Loss)
vs −$36.6M in Q1 FY2019

Shrank. Revenue fell 53% in 4 years, from $476.1M in FY2015 to $225.7M in FY2019, about 17% a year.

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