Welcome to our dedicated page for Tidewater news (Ticker: TDW), a resource for investors and traders seeking the latest updates and insights on Tidewater stock.
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) announced an acceleration in the termination of its Tax Benefits Preservation Plan to December 15, 2021, previously set to expire on April 13, 2023. The plan was established to protect the company's net operating loss carryforwards and foreign tax credits from ownership changes under the Internal Revenue Code. The Board deemed the tax attributes no longer require protection, citing a significant reduction in ownership change risks after its third anniversary of the 2018 acquisition of GulfMark Offshore, Inc.
Tidewater Inc. (NYSE: TDW) has successfully closed the offering of USD $175 million in senior secured bonds with an interest rate of 8.5%, maturing in 2026. The proceeds will be used to refinance existing debt and for general corporate purposes. The bonds were privately placed in the United States and are subject to U.S. securities laws. Tidewater operates one of the largest fleets of offshore support vessels, supporting energy exploration and production globally.
Tidewater Inc. (NYSE:TDW) reported revenue of $92.4 million and $265.9 million for Q3 and YTD 2021, respectively, marking increases from $86.5 million and $305.2 million in 2020. Despite net losses of $26.3 million for Q3 and $91.0 million YTD, improvements in operational metrics were noted. The company successfully refinanced $175 million in senior secured notes, enhancing liquidity. Tidewater's ongoing fleet reactivation and strategic agreements signal potential for growth, particularly in offshore renewables and the recovery in hydrocarbon demand.
Tidewater Inc. (NYSE: TDW) is set to hold an earnings conference call on November 10, 2021, at 8:00 a.m. Central Time to discuss results for the quarter ending September 30, 2021. President and CEO Quintin Kneen will lead the call, which can be accessed by telephone or via a live webcast on Tidewater's investor relations website. A replay will be available from 10:30 a.m. Central Time on the same day until December 10, 2021. The call will include forward-looking statements that carry inherent risks associated with the oilfield service industry.
Tidewater Inc. (NYSE: TDW) has announced its offering of USD $175 million in senior secured bonds, set to mature in November 2026, with an interest rate of 8.5% per annum. The bond offering is expected to close on November 16, 2021, subject to customary conditions. Proceeds will be utilized for refinancing existing debt and other corporate purposes. The bonds will be listed on the Nordic ABM, and the offering complies with U.S. securities laws, being privately placed.
Tidewater Inc. (NYSE: TDW) announced plans to offer USD-denominated 5-year senior secured bonds, subject to market conditions. The net proceeds will be used for refinancing existing debt and general corporate purposes. The bonds will be privately placed in the U.S. and outside the U.S. under Regulation S of the Securities Act of 1933. This press release does not constitute an offer or solicitation related to the bonds. Tidewater operates one of the largest fleets of offshore support vessels with over 65 years of industry experience.
Tidewater Inc. (NYSE: TDW) announced that its President and CEO, Quintin V. Kneen, will present at the Pareto Securities’ 28th Energy Virtual Conference on September 16, 2021, at 3:40 a.m. Central Time. Following the presentation, a Form 8-K will be filed with the SEC, including the presentation slides, which will also be accessible on the Company’s Investor Relations website. Tidewater operates the largest fleet of offshore support vessels, boasting 65 years of experience in offshore energy exploration and production.
Tidewater reported revenue of $90.0 million and $173.5 million for the three and six months ended June 30, 2021, down from $102.3 million and $218.7 million in 2020. Net losses were $29.5 million ($0.72/share) and $64.8 million ($1.59/share), significantly improved from losses of $110.6 million and $129.1 million the previous year. Free cash flow reached $26.0 million, with a net debt reduction of $21.1 million. The company managed operational improvements but remains cautious regarding the ongoing impact of the COVID-19 Delta variant.
Tidewater Inc. (NYSE: TDW) has scheduled an earnings conference call for August 10, 2021, at 8:00 a.m. Central Time. CEO Quintin Kneen will discuss the Q2 2021 results. Investors can join via telephone or listen to a live webcast on Tidewater's investor relations website. A replay will be available from August 10 at 10:30 a.m. until September 10, 2021. The call will include forward-looking statements highlighting risks related to the oilfield service industry and other factors impacting future performance.
Tidewater announced that Quintin V. Kneen, the President and CEO, will join a virtual fireside chat at the UBS Global Energy Virtual Conference on May 25, 2021, at 11:00 a.m. CT. A link to the live webcast will be accessible on Tidewater’s website in the Investor Relations section. Tidewater boasts over 65 years of experience and operates one of the largest fleets of offshore support vessels, specializing in offshore energy exploration and production. Supplemental materials will also be available on the conference day.
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