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Tidewater, Inc. (Symbol: TDW) is a leading provider of larger offshore service vessels to the global energy industry. With a robust and modern fleet, a global presence, and over 50 years of experience in marine support services, Tidewater plays a critical role in supporting the offshore energy sector. The company's fleet includes diverse marine service vessels that support every phase of offshore exploration, field development, and production. Their services encompass towing and anchor handling for mobile offshore drilling units, transporting supplies, remotely operated vehicle operations, and various specialized services.
Tidewater operates in key geographical regions including the Americas, Asia Pacific, Middle East, Europe/Mediterranean, and West Africa, with the majority of its revenue generated from West Africa. The company's commitment to safety, combined with its operational expertise, makes it a preferred partner for energy companies operating in remote, deep-water, and increasingly challenging environments.
Recent achievements for Tidewater include expanding its fleet with state-of-the-art vessels to meet the growing demands of the energy industry. Ongoing projects and partnerships underscore Tidewater's dedication to innovation and excellence in marine support services. Financially, the company remains stable, ensuring continuous support and growth in its operations.
For investors and stakeholders seeking up-to-date information on Tidewater's performance, events, and developments, staying informed of the latest news is crucial. Tidewater's latest news and updates reflect the company's dynamic presence in the offshore energy market.
Tidewater Inc. (NYSE:TDW) reported Q3 2024 revenue of $340.4 million, with net income of $46.4 million ($0.87 per share) and Adjusted EBITDA of $142.6 million. The average day rate increased to $22,275, up $1,145 from the previous quarter. The company generated $49.1 million in operating cash flow and $67.0 million in free cash flow. Tidewater repurchased 189,738 shares for $15.0 million and received board approval for an additional $10.1 million share repurchase authorization. The company updated its 2024 revenue guidance to $1.33-1.35 billion with a 48% gross margin.
Tidewater (NYSE: TDW) has scheduled its Q3 2024 earnings release for Thursday, November 7, 2024, after market close. The company will host an earnings conference call on Friday, November 8, 2024, at 8:00 a.m. Central Time, featuring President and CEO Quintin Kneen discussing the quarterly results. Investors can join via telephone at +1.800.715.9871 (US/Canada) or +1.647.932.3411 (international) using Conference ID: 6513877. A live webcast and replay will be available on Tidewater's investor relations website.
Tidewater Inc. (NYSE:TDW) reported strong Q2 2024 results, with revenue increasing 5.6% to $339.2 million from Q1 2024. The company saw a significant rise in average day rates, reaching $21,130 per day, up $1,567 from Q1. Net income grew to $50.4 million, while Adjusted EBITDA reached $139.7 million. Free cash flow increased by $18.2 million to $87.6 million. Tidewater repurchased 176,555 shares and received board approval for an additional $13.9 million share repurchase authorization. The company updated its 2024 revenue guidance to $1.39 to $1.41 billion with a gross margin guidance of 51%.
Tidewater Inc. (NYSE: TDW) has announced its upcoming earnings release and conference call schedule. The company will release its financial results for the second quarter ending June 30, 2024, on Tuesday, August 6, 2024, after the market closes. An earnings conference call is scheduled for Wednesday, August 7, 2024, at 8:00 a.m. Central Time.
During the call, President and CEO Quintin Kneen will discuss the company's Q2 2024 results. Investors can join the call via telephone or listen to a live webcast on Tidewater's website. A replay of the conference call will be available from 11:00 a.m. Central Time on August 7, 2024, in the Investor Relations section of the company's website.
Tidewater Inc. (NYSE:TDW) reported revenue of $321.2 million for the first quarter of 2024, marking a 6.1% increase from the previous quarter. The average day rate rose to $19,563 per day, with a composite leading edge term contract day rate of $30,641. Net income surged to $47.0 million, and adjusted EBITDA reached $139.0 million. Tidewater also saw improvements in free cash flow and announced a share repurchase program.
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