ReutersReuters

Tidewater Q2 revenue rises 0.6%

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Overview

  • Tidewater Q2 2025 revenue up 0.6% yr/yr, driven by vessel up-time

  • Net income for Q2 boosted by $11.7 mln forex gain

  • Co announced $500 mln share repurchase program, enhancing shareholder returns

Outlook

  • Tidewater reiterates 2025 revenue guidance of $1.32 bln to $1.38 bln

  • Company expects 2025 gross margin between 48% and 50%

  • Tidewater says 93% of 2025 revenue guidance covered by contracts

  • Company cites commodity price volatility affecting second half expectations

Result Drivers

  • VESSEL UP-TIME - Improved vessel up-time drove revenue and margin performance, per CEO Quintin Kneen

  • HIGHER DAY RATES - Average day rate increased by 9.6% to $23,166, benefiting from higher rate contracts

  • FOREIGN EXCHANGE GAIN - Net income favorably impacted by $11.7 mln forex gain due to weaker U.S. dollar

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Vessel Revenues

$336.86 mln

Q2 Net Income

$72.70 mln

Q2 Basic EPS

$1.47

Q2 Operating Income

$80.92 mln

Q2 Pretax Profit

$78.29 mln

Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the oil related services and equipment peer group is "buy"

  • Wall Street's median 12-month price target for Tidewater Inc is $60.00, about 20.8% above its August 1 closing price of $47.53

  • The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

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