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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) 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.
Tidewater Inc. (NYSE: TDW) has scheduled an earnings conference call for August 5, 2022, at 8:00 a.m. Central Time, to discuss its financial results for the three months ending June 30, 2022. Stakeholders can join via telephone or access a live webcast on the company's website. A replay will be available from 11:00 a.m. Central Time on August 5 until September 5, 2022. The call may include forward-looking statements and discusses risks associated with the oilfield service industry, as detailed in Tidewater's Forms 10-Q and 10-K.
Tidewater Inc. (NYSE:TDW) reported Q1 2022 revenue of $105.7 million, up from $83.5 million in Q1 2021. Although the company faced a net loss of $12.2 million ($0.29 per share), this is an improvement compared to the $35.3 million loss recorded last year. Vessel level gross margins rose from 24.7% to 34.0%, with active fleet utilization at 82.5%. The recent acquisition of Swire Pacific Offshore positions Tidewater as a market leader poised to exploit the growing demand for offshore vessels.
Tidewater Inc. (NYSE: TDW) has scheduled an earnings conference call for May 10, 2022, at 8:00 a.m. Central Time. CEO Quintin Kneen will discuss the company's financial results for the first quarter ending March 31, 2022. Investors can join the call by calling +1.888.770.7135 (U.S. and Canada) or +1.929.203.0820 (international), using Conference ID: 2444624. A live webcast will be available on Tidewater's Investor Relations website.
Tidewater Inc. (NYSE: TDW) has successfully completed its acquisition of Swire Pacific Offshore Holdings Limited (SPO) as of April 22, 2022. This strategic acquisition adds 50 vessels to Tidewater's fleet, reinforcing its status as the leading operator in the offshore support vessel (OSV) industry. CEO Quintin Kneen emphasized the acquisition as a milestone for strengthening Tidewater's leadership amid the recovering offshore vessel market. The company boasts over 65 years of experience in supporting various offshore energy activities.
Tidewater Inc. (NYSE:TDW) reported a revenue increase to $105.2 million for Q4 2021, up from $91.9 million in Q4 2020, while total revenue for 2021 was $371.0 million compared to $397.0 million in 2020. Despite revenue growth, net losses increased to $37.9 million for Q4 2021 from $29.2 million in Q4 2020. Included in these losses were significant impairment charges and expenses totaling $26.2 million for Q4 2021. However, the company reported margin improvement and a strong cash position, ending the year with $154.3 million in cash, signaling potential growth ahead.
Tidewater Inc. (NYSE: TDW) announced a definitive agreement to acquire Swire Pacific Offshore Holdings Limited (SPO) for approximately $190 million. This acquisition will create the industry's largest fleet of Offshore Support Vessels (OSVs), expanding Tidewater's fleet to 203 vessels. The company estimates $45 million in annual cost synergies post-transaction. Tidewater will maintain a strong balance sheet with $110 million in cash, enabling growth in earnings and cash flow generation amidst recovery in the offshore oil and gas market. The transaction is expected to close in Q2 2022.
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