Tidewater Q2 revenue rises 0.6%
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:
