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Tidewater Inc (NYSE: TDW) delivers essential marine support services for global energy projects through its modern fleet of offshore vessels. This news hub provides investors and industry professionals with direct access to official company announcements and operational updates.
Find timely updates on strategic initiatives, fleet deployments, and partnership developments critical to offshore energy operations. Our curated collection includes press releases covering contract awards, safety milestones, and sustainability efforts across all operational regions.
Key content categories include quarterly earnings disclosures, vessel acquisition announcements, and operational updates from major energy basins. Track Tidewater's role in supporting both traditional hydrocarbon projects and emerging renewable energy installations.
Bookmark this page for streamlined access to Tidewater's latest corporate developments. Combine these verified updates with market analysis tools to better understand marine service sector dynamics.
Tidewater Inc. (NYSE: TDW) announced an agreement to acquire 37 platform supply vessels (PSVs) from Solstad Offshore ASA for $577 million. This acquisition positions Tidewater as the largest operator of high-specification PSVs, enhancing its fleet to a total of 228 vessels, with a focus on sustainability through a hybrid fleet that includes battery and LNG-capable vessels. The acquired vessels have a backlog of approximately $620 million, expected to contribute to cash flow as contracts mature. The transaction, approved by Tidewater’s Board, is set to close in Q2 2023, subject to regulatory approvals.
Tidewater Inc. (TDW) reported a strong performance for full-year 2022, with revenue increasing 74.6% to $647.7 million compared to 2021. The company achieved a vessel operating margin of 38.1%, an improvement of 10.5 percentage points. Operating income surged to $26.7 million from a loss of $95 million in 2021. Projecting for 2023, Tidewater forecasts revenue of approximately $900 million, marking a 39% increase, with a vessel operating margin expected at 50%. The positive trend is attributed to the acquisition of Swire Pacific Offshore and growing demand for offshore services. The firm ended 2022 with a net debt of only $9.6 million.
Tidewater Inc. (NYSE: TDW) has announced an earnings conference call for February 28, 2023, at 8:00 a.m. Central Time. During this call, President and CEO Quintin Kneen will share insights on the company's performance for the quarter ending December 31, 2022. Investors can join the call by dialing +1.888.770.7135 or by accessing the live webcast via the Tidewater Investor Relations website. A replay will be available from 11:00 a.m. on the same day until 11:59 p.m. on March 28, 2023. The announcement also includes a reminder about potential risks and uncertainties in oilfield services that could impact future results.
Tidewater Inc. (NYSE: TDW) has launched a public offering of 3,987,914 shares of common stock at $30.25 per share, aiming for gross proceeds of approximately $120.6 million. The proceeds will be utilized to repurchase warrants from Banyan Overseas Limited, linked to the company’s acquisition of Swire Pacific Offshore Holdings Limited. Morgan Stanley is the sole underwriter for this offering, expected to close on November 10, 2022, pending customary conditions. The offering is registered under the SEC's shelf registration statement.
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