Tidewater Inc Stock Price, News & Analysis

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.

Tidewater Inc. (NYSE: TDW) announced a public offering of up to 3,987,914 shares of common stock. The proceeds will be utilized to repurchase warrants from Banyan Overseas Limited that correspond to the shares sold. These warrants were tied to Tidewater's acquisition of Swire Pacific Offshore Holdings Limited. Morgan Stanley is the sole underwriter for the offering, which is subject to market conditions and customary closing processes. The shares are registered under a previously declared effective Form S-3 registration statement.

Tidewater Inc. (NYSE:TDW) reported a significant milestone, achieving a positive net income of $5.4 million in Q3 2022, the first since 2017. Revenue surged to $191.8 million, up 17% year-over-year, with a vessel-level cash margin of 40.6%. Adjusted EBITDA reached $52.1 million, an increase from $39.1 million in the previous year. Free cash flow improved to $21.9 million, compared to a negative cash flow in Q3 2021. The active fleet utilization rose to 83.7%, while the average day rate increased significantly. The company anticipates realizing $45 million in synergies from its recent acquisition during 2023.

Tidewater Inc. (NYSE: TDW) has scheduled an earnings conference call for November 4, 2022, at 8:00 a.m. Central Time to discuss the results for the three months ending September 30, 2022. Investors can participate via telephone or listen to a live webcast on Tidewater's investor relations website. A replay will be available starting at 11:00 a.m. Central Time on the same day until December 4, 2022. The call may include forward-looking statements regarding the company’s performance and risks associated with the oilfield service industry.

Tidewater Inc. (NYSE: TDW) has priced a public offering of 3,520,000 shares at $17.85 each, raising approximately $62.83 million before expenses. Additionally, there is a 30-day option for underwriters to purchase 528,000 more shares. The proceeds will fund the repurchase of warrants from Banyan Overseas Limited related to the acquisition of Swire Pacific Offshore. The offering is led by Morgan Stanley and is expected to close on August 12, 2022. The stocks are offered under an effective registration statement with the SEC.

Tidewater Inc. (NYSE: TDW) announced a public offering of up to 3,520,000 shares of common stock, with a potential increase of 528,000 additional shares for the underwriter. The proceeds will be used to repurchase warrants from Banyan Overseas Limited linked to Tidewater's acquisition of Swire Pacific Offshore Holdings Limited. Morgan Stanley is the sole underwriter for this offering, which is subject to market conditions. The shares will be offered under an effective shelf registration statement filed with the SEC.

Tidewater Inc. (NYSE:TDW) reported significant financial improvements for Q2 2022, driven by the acquisition of Swire Pacific Offshore. Revenue surged to $163.4 million, up from $90.0 million year-over-year. Adjusted EBITDA rose from $8.7 million to $39.1 million, while average day rates increased by 17% to $12,544. Despite net losses of $25.6 million for Q2, operational metrics showed strength with vessel utilization at 75.5%. The company anticipates continued growth and expects to achieve cost synergies of $45.0 million.