Tidewater Inc., together with its subsidiaries, provides offshore marine support and transportation services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and natural gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying. The company operates and charters deepwater vessels, including platform supply and anchor handling tug supply vessels for use in transporting supplies and equipment from shore bases to deepwater and intermediate water depth offshore drilling rigs and production platforms; towing-supply vessels for use in intermediate and shallow waters; and crew boats, utility vessels, and offshore tugs to transport personnel and supplies from shore bases to offshore drilling rigs, platforms, and other installations. It also operates offshore tugs for use in tow floating drilling rigs and barges; and assisting in the docking of tankers, as well as in pipe and cable laying, and construction barges. The company serves oil and natural gas exploration, field development, and production companies; mid-sized and smaller independent exploration and production companies; government-owned or government-controlled organizations, and other related companies; drilling contractors; and other companies, such as offshore construction, windfarm development, diving, and well stimulation companies. As of December 31, 2020, it owned or chartered 172 vessels. Tidewater Inc. was incorporated in 1956 and is headquartered in Houston, Texas.
IPO Year: 2017
Exchange: NYSE
Website: tdw.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/11/2024 | $131.00 → $102.00 | Strong Buy → Outperform | Raymond James |
| 2/9/2024 | $88.00 | Buy | Johnson Rice |
| 1/30/2024 | Outperform | Pickering Energy Partners | |
| 7/14/2023 | $85.00 | Strong Buy | Raymond James |
| 7/7/2023 | $90.00 | Outperform | Evercore ISI |
| 6/21/2023 | $75.00 | Buy | BTIG Research |
| 9/6/2022 | $42.00 | Outperform | Evercore ISI |
Third Quarter 2024 Highlights Revenue of $340.4 million, an increase of $1.1 million from the prior quarter Average day rate increased to $22,275 per day, $1,145 higher than the prior quarter Net income of $46.4 million and Adjusted EBITDA of $142.6 million Net cash provided by operating activities of $49.1 million and free cash flow of $67.0 million Share Repurchases and 2024 Guidance Repurchased 189,738 shares since the end of the second quarter of 2024 through the end of October for $15.0 million at an average price of $79.06 per share Board approves additional share repurchase authorization of $10.1 million, for a total current outstanding authorized capacity of $42.8 mill
Tidewater Inc. (NYSE:TDW) ("Tidewater" or the "Company") announced today that it will release financial results for the three months ending September 30, 2024, on Thursday, November 7, 2024 after market close. An earnings conference call has been scheduled for Friday, November 8, 2024, at 8:00 a.m. Central Time, during which President and Chief Executive Officer Quintin Kneen will discuss results for the three months ending September 30, 2024. Investors and interested parties may listen to the earnings conference call via telephone by calling +1.800.715.9871 if calling from the U.S. or Canada (+1.647.932.3411 if calling from outside the U.S.) and provide Conference ID: 6513877 prior to the
Second Quarter 2024 Highlights Revenue of $339.2 million, an increase of $18.1 million, or 5.6%, from the first quarter of 2024 Average day rate increased to $21,130 per day, $1,567 higher than the first quarter of 2024 Composite leading edge term contract average day rate of $28,754 > 900m2 PSV - leading edge term contract average day rate improved 8% to $35,172 700 - 900m2 PSV - leading edge term contract average day rate improved 9% to $28,026 > 16K BHP AHTS - leading edge term contract average day rate improved 13% to $48,615 8 - 12K BHP AHTS - leading edge term contract average day rate improved 8% to $25,175 Net income of $50.4 million, an increase of $3.3 mi
Tidewater Inc. (NYSE:TDW) ("Tidewater" or the "Company") announced today that it will release financial results for the three months ending June 30, 2024, on Tuesday, August 6, 2024 after market close. An earnings conference call has been scheduled for Wednesday, August 7, 2024, at 8:00 a.m. Central Time, during which President and Chief Executive Officer Quintin Kneen will discuss results for the three months ending June 30, 2024. Investors and interested parties may listen to the earnings conference call via telephone by calling +1.800.715.9871 if calling from the U.S. or Canada (+1.647.932.3411 if calling from outside the U.S.) and provide Conference ID: 1488572 prior to the scheduled
NEW YORK, June 7, 2024 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, June 24, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from the S
First Quarter 2024 Highlights Revenue of $321.2 million, an increase of $18.5 million, or 6.1%, from the fourth quarter of 2023 Average day rate increased to $19,563 per day, $1,497 higher than the fourth quarter of 2023 Composite leading edge term contract day rate increased to $30,641 Net income of $47.0 million, an increase of $9.4 million from the fourth quarter of 2023 Adjusted EBITDA of $139.0 million, an increase of $7.7 million from the fourth quarter of 2023 Net cash provided by operating activities of $54.8 million, an increase of $7.5 million from the fourth quarter of 2023 Free cash flow of $69.4 million, an increase of $8.4 million from the fourth quarter o
Tidewater Inc. (NYSE:TDW) ("Tidewater" or the "Company") announced today that it will release financial results for the three months ending March 31, 2024, on Thursday, May 2, 2024 after market close. An earnings conference call has been scheduled for Friday, May 3, 2024, at 8:00 a.m. Central Time, during which President and Chief Executive Officer Quintin Kneen will discuss results for the three months ending March 31, 2024. Investors and interested parties may listen to the earnings conference call via telephone by calling +1.800.715.9871 if calling from the U.S. or Canada (+1.647.932.3411 if calling from outside the U.S.) and provide Conference ID: 6663124 prior to the scheduled start
Tidewater Inc. (NYSE:TDW) ("Tidewater" or the "Company"), a leading owner and operator of offshore support vessels providing offshore energy transportation services worldwide, today announced the publication of the Company's 2023 Sustainability Report. This report is Tidewater's fourth annual comprehensive and stand-alone sustainability report. The report presents the environmental, social, and governance (ESG) performance of Tidewater, along with its management approach to material sustainability topics, for the 2023 calendar year. The report can be downloaded from the Company website at www.tdw.com/sustainability/sustainability-report/. About Tidewater Tidewater owns and operates th
Full-Year 2023 Highlights Revenue of $1,010.0 million, a 55.9% increase from 2022 Average day rate increased to $16,802 per day, $4,048 higher than 2022 Net income of $97.2 million, an increase of $118.9 million from 2022 Adjusted EBITDA of $386.7 million, an increase of $220.0 million from 2022 Net cash provided by operating activities of $104.7 million, an increase of $64.5 million from 2022 Free cash flow of $111.3 million, an increase of $60.8 million from 2022 Completed acquisition and financing of 37 PSVs from Solstad Offshore Fourth Quarter 2023 Highlights Revenue of $302.7 million, highest quarterly revenue in eight years Average day rate increased to
Tidewater Inc. (NYSE:TDW) ("Tidewater" or the "Company") announced today an earnings conference call has been scheduled for Friday, March 1, 2024, at 8:00 a.m. Central Time, during which President and Chief Executive Officer Quintin Kneen will discuss results for the three and twelve months ending December 31, 2023. Investors and interested parties may listen to the earnings conference call via telephone by calling +1.800.715.9871 if calling from the U.S. or Canada (+1.647.932.3411 if calling from outside the U.S.) and provide Conference ID: 6663124 prior to the scheduled start time. A live webcast of the call will also be available in the Investor Relations section of Tidewater's website
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Raymond James downgraded Tidewater from Strong Buy to Outperform and set a new price target of $102.00 from $131.00 previously
Johnson Rice initiated coverage of Tidewater with a rating of Buy and set a new price target of $88.00
Pickering Energy Partners initiated coverage of Tidewater with a rating of Outperform
Raymond James initiated coverage of Tidewater with a rating of Strong Buy and set a new price target of $85.00
Evercore ISI resumed coverage of Tidewater with a rating of Outperform and set a new price target of $90.00
BTIG Research initiated coverage of Tidewater with a rating of Buy and set a new price target of $75.00
Evercore ISI resumed coverage of Tidewater with a rating of Outperform and set a new price target of $42.00
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For over three decades, Bob Robotti has not just participated in the market, he has decimated the average returns of the S&P 500. With a blend of keen insight, patient strategy, and an unerring eye for value, Robotti's investment acumen has led his Ravenswood fund to nearly a 100-fold increase since its inception in 1992. In a landscape where beating the market consistently is almost a mythic feat, Robotti has shared his unique approach, in an interview with Business Insider, to uncovering hidden gems in the stock market. He also shed light on common pitfalls investors often fall into and shared insights into one of his most successful trades. See Also: A Month Back Elon Musk Said Boei
The Nasdaq 100 closed higher by around 0.3% on Friday. Investors, meanwhile, focused on some notable insider trades. When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision. Below is a look at a few recent notable insider sales. For more, check out Benzinga’s insider transactions platform. Tidewater The Trade: Tidewater Inc. (NYSE:TDW) Director Robert Robotti <a href=”https://www.benzinga.com/sec/insider-trades/”><em>
BTIG analyst Gregory Lewis maintains Tidewater (NYSE:TDW) with a Buy and raises the price target from $110 to $130.
As of May 7, 2024, three stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here's the latest list of major overbought players in this sector. Excelerate Energy, Inc. (NYSE:EE) Excelerate Energy is expected to release its first quarter 2024
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Tidewater (NYSE:TDW) reported quarterly earnings of $0.89 per share which beat the analyst consensus estimate of $0.62 by 43.55 percent. This is a 286.96 percent increase over earnings of $0.23 per share from the same period last year. The company reported quarterly sales of $321.16 million which beat the analyst consensus estimate of $312.09 million by 2.91 percent. This is a 66.32 percent increase over sales of $193.10 million the same period last year.
Third Quarter 2024 Highlights Revenue of $340.4 million, an increase of $1.1 million from the prior quarter Average day rate increased to $22,275 per day, $1,145 higher than the prior quarter Net income of $46.4 million and Adjusted EBITDA of $142.6 million Net cash provided by operating activities of $49.1 million and free cash flow of $67.0 million Share Repurchases and 2024 Guidance Repurchased 189,738 shares since the end of the second quarter of 2024 through the end of October for $15.0 million at an average price of $79.06 per share Board approves additional share repurchase authorization of $10.1 million, for a total current outstanding authorized capacity of $42.8 mill
Tidewater Inc. (NYSE:TDW) ("Tidewater" or the "Company") announced today that it will release financial results for the three months ending September 30, 2024, on Thursday, November 7, 2024 after market close. An earnings conference call has been scheduled for Friday, November 8, 2024, at 8:00 a.m. Central Time, during which President and Chief Executive Officer Quintin Kneen will discuss results for the three months ending September 30, 2024. Investors and interested parties may listen to the earnings conference call via telephone by calling +1.800.715.9871 if calling from the U.S. or Canada (+1.647.932.3411 if calling from outside the U.S.) and provide Conference ID: 6513877 prior to the
Second Quarter 2024 Highlights Revenue of $339.2 million, an increase of $18.1 million, or 5.6%, from the first quarter of 2024 Average day rate increased to $21,130 per day, $1,567 higher than the first quarter of 2024 Composite leading edge term contract average day rate of $28,754 > 900m2 PSV - leading edge term contract average day rate improved 8% to $35,172 700 - 900m2 PSV - leading edge term contract average day rate improved 9% to $28,026 > 16K BHP AHTS - leading edge term contract average day rate improved 13% to $48,615 8 - 12K BHP AHTS - leading edge term contract average day rate improved 8% to $25,175 Net income of $50.4 million, an increase of $3.3 mi
Tidewater Inc. (NYSE:TDW) ("Tidewater" or the "Company") announced today that it will release financial results for the three months ending June 30, 2024, on Tuesday, August 6, 2024 after market close. An earnings conference call has been scheduled for Wednesday, August 7, 2024, at 8:00 a.m. Central Time, during which President and Chief Executive Officer Quintin Kneen will discuss results for the three months ending June 30, 2024. Investors and interested parties may listen to the earnings conference call via telephone by calling +1.800.715.9871 if calling from the U.S. or Canada (+1.647.932.3411 if calling from outside the U.S.) and provide Conference ID: 1488572 prior to the scheduled
First Quarter 2024 Highlights Revenue of $321.2 million, an increase of $18.5 million, or 6.1%, from the fourth quarter of 2023 Average day rate increased to $19,563 per day, $1,497 higher than the fourth quarter of 2023 Composite leading edge term contract day rate increased to $30,641 Net income of $47.0 million, an increase of $9.4 million from the fourth quarter of 2023 Adjusted EBITDA of $139.0 million, an increase of $7.7 million from the fourth quarter of 2023 Net cash provided by operating activities of $54.8 million, an increase of $7.5 million from the fourth quarter of 2023 Free cash flow of $69.4 million, an increase of $8.4 million from the fourth quarter o
Tidewater Inc. (NYSE:TDW) ("Tidewater" or the "Company") announced today that it will release financial results for the three months ending March 31, 2024, on Thursday, May 2, 2024 after market close. An earnings conference call has been scheduled for Friday, May 3, 2024, at 8:00 a.m. Central Time, during which President and Chief Executive Officer Quintin Kneen will discuss results for the three months ending March 31, 2024. Investors and interested parties may listen to the earnings conference call via telephone by calling +1.800.715.9871 if calling from the U.S. or Canada (+1.647.932.3411 if calling from outside the U.S.) and provide Conference ID: 6663124 prior to the scheduled start
Full-Year 2023 Highlights Revenue of $1,010.0 million, a 55.9% increase from 2022 Average day rate increased to $16,802 per day, $4,048 higher than 2022 Net income of $97.2 million, an increase of $118.9 million from 2022 Adjusted EBITDA of $386.7 million, an increase of $220.0 million from 2022 Net cash provided by operating activities of $104.7 million, an increase of $64.5 million from 2022 Free cash flow of $111.3 million, an increase of $60.8 million from 2022 Completed acquisition and financing of 37 PSVs from Solstad Offshore Fourth Quarter 2023 Highlights Revenue of $302.7 million, highest quarterly revenue in eight years Average day rate increased to
Tidewater Inc. (NYSE:TDW) ("Tidewater" or the "Company") announced today an earnings conference call has been scheduled for Friday, March 1, 2024, at 8:00 a.m. Central Time, during which President and Chief Executive Officer Quintin Kneen will discuss results for the three and twelve months ending December 31, 2023. Investors and interested parties may listen to the earnings conference call via telephone by calling +1.800.715.9871 if calling from the U.S. or Canada (+1.647.932.3411 if calling from outside the U.S.) and provide Conference ID: 6663124 prior to the scheduled start time. A live webcast of the call will also be available in the Investor Relations section of Tidewater's website
Third Quarter 2023 Highlights Revenue of $299.3 million, a 39.2% increase from the second quarter of 2023 Average day rate increased to $17,865 per day, $1,823 higher than the second quarter of 2023 Composite leading edge term contract day rate up 21.7% to $28,609 Net income of $26.2 million, an increase of $3.6 million from the second quarter of 2023 Adjusted EBITDA of $117.2 million, an increase of $45.2 million from the second quarter of 2023 Completed integration of 32 of the 37 recently acquired PSVs from Solstad Offshore Initiating 2024 revenue guidance of $1.40 to $1.45 billion and 2024 gross margin guidance of 52% Announcing share repurchase authorization for
Tidewater Inc. (NYSE:TDW) ("Tidewater" or the "Company") announced today an earnings conference call has been scheduled for Tuesday, November 7, 2023, at 8:00 a.m. Central Time, during which President and Chief Executive Officer Quintin Kneen will discuss results for the three months ending September 30, 2023. Investors and interested parties may listen to the earnings conference call via telephone by calling +1.888.770.7135 if calling from the U.S. or Canada (+1.929.203.0820 if calling from outside the U.S.) and provide Conference ID: 2444624 prior to the scheduled start time. A live webcast of the call will also be available in the Investor Relations section of Tidewater's website at in
NEW YORK, June 7, 2024 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, June 24, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from the S
Reduces Board Size from Nine to Five Members and Appoints New Directors Strong Leadership and Governance Committed to Building Sustainable Shareholder Value Edgio, Inc. (NASDAQ:EGIO) (the "Company"), the platform of choice for speed, security, and simplicity at the edge, today announced that it has reconstituted its Board of Directors. The now five-member Board includes three newly appointed, highly qualified directors: Ken Traub, Frank Verdecanna and Mio Babic. Ken Traub has also been named as Chairman of the Board. These additions enrich the Board with diverse global expertise in corporate governance, cybersecurity, digital media, and strategic growth. Simultaneously, seven existing
DENVER, Nov. 17, 2023 (GLOBE NEWSWIRE) -- American Rare Earths Limited ((ASX: ARR, OTCQX:AMRRY, OTCQB:ARRNF) (ARR or the Company) announces the retirement of long-serving Chairman of the board, Mr. Francis Creagh O'Connor effective at the Annual General Meeting which took place on November 16, 2023. Mr. Kenneth ‘Ken' Traub, who joined the Board on August 18, 2023, has become Chairman effective immediately after Mr. O'Connor's retirement. "On behalf of the board, I want to extend our sincere appreciation to Creagh for his visionary leadership, his unwavering support, and his contributions to the Company during the past 13 years," said Ken Traub, incoming Chairman of the board. "We wish him
Tidewater Inc. (NYSE:TDW) ("Tidewater" or the "Company") announced that Dick H. Fagerstal has been appointed non-executive Chairman of the Board. In addition, the Board has reduced the size of the Board from nine to eight members. Mr. Fagerstal stated, "I am honored to assume the role of Chairman of the Board of Tidewater at such an exciting time for our industry. I believe the Company is well positioned to capitalize on the increasing global offshore activity with recently closed (and pending) additions to its fleet of offshore vessels. "Having been associated with the offshore service industry for the past 35+ years and having served on the Tidewater board for the past six years, I am
Tidewater Inc. (NYSE:TDW) ("Tidewater" or the "Company") announced today that Larry T. Rigdon, who has served as a member of the Company's Board of Directors (the "Board") since July 2017, and as non-executive Chairman of the Board since October 2019, informed the Company that he has chosen not to stand for reelection and will retire from the Board at the Company's Annual Meeting of Stockholders to be held on June 26, 2023 (the "Annual Meeting"). Dick H. Fagerstal, our Lead Independent Director, has been asked by the Board to serve in the role of non-executive Chairman assuming he is reelected to the Board at the Annual Meeting, and Mr. Fagerstal has indicated his willingness to serve in
Believes the Stern-Controlled Board's Decision to Challenge Our Special Meeting Demand – Without Any Valid Justification – Reinforces the Need for Objective and Independent Perspectives in the Boardroom Contends the Company is Making Misleading Claims About Murchinson to Distract from Mr. Stern Having Presided Over a More Than 77% Share Price Decline Since Becoming Chairman Puts Forward Proposals to Remove Four Incumbents and Appoint Two Highly Qualified, Independent Director Candidates with Sorely Needed Capital Allocation Acumen and Corporate Governance Expertise Sees a Clear Opportunity to Optimize Nano Dimension's Overcapitalized Balance Sheet, Explore Strategic Options to Maximize V
Tidewater Inc. (NYSE:TDW) ("Tidewater" or the "Company") announced today the appointment of Melissa Cougle to its Board of Directors, effective immediately. Mrs. Cougle is a recognized business leader with extensive experience in the oil and gas industry. "I'm honored to have the opportunity to join Tidewater's Board, and I look forward to helping guide the company's strategy as it positions itself to grow in a recovering offshore oil and gas market," said Mrs. Cougle. "Tidewater's team has done an excellent job of navigating through the industry downturn, consistently generating cash and proactively managing its balance sheet, including the most recent refinancing. Tidewater represents an
HOUSTON--(BUSINESS WIRE)--Tidewater Inc. (NYSE: TDW) (“Tidewater” or the “Company”), a leading owner and operator of offshore support vessels providing offshore energy transportation services worldwide today announced the promotion of two key members of the company’s executive team, Sam R. Rubio and David E. Darling. “I am tremendously proud to announce the promotions of Sam to the position of Chief Financial Officer and David to the position of Chief Operating Officer,” said Quintin Kneen, Tidewater’s President and Chief Executive Officer. “The leadership and ingenuity these two individuals have demonstrated by helping to reshape our operations in response to the pandemic epitom