Tidewater Inc SEC Filings

Charles Schwab Corp. filed a Form 144 disclosing proposed dispositions of common stock connected to stock option exercises. The filing lists 6,778 shares dated 03/08/2024 and 15,683 shares dated 03/22/2024.

Tidewater Inc. provides marine and transportation services to the global offshore energy industry, operating 208 vessels across more than 30 countries as of December 31, 2025. Its fleet is mainly platform supply vessels (139 PSVs) and anchor handling towing supply vessels (52 AHTS), which together generate most vessel revenue.

The company agreed to acquire the Wilson Companies for $500 million, adding 22 PSVs in Brazil, with closing expected in late Q2 2026 subject to antitrust and lender approvals. In July 2025 it issued $650 million of 9.125% Senior Notes due 2030 and used the proceeds to redeem multiple higher-cost debt instruments, recording a $27.1 million loss on early extinguishment.

Tidewater has been active in share repurchases, buying back 4,264,889 shares for about $215.7 million over three years, including 2,290,204 shares for roughly $90 million in 2025, under increasingly larger Board-authorized programs up to $500 million. Key risks highlighted include dependence on oil and gas capital spending, energy transition and climate-related regulation, acquisition integration (including the Wilson deal), leverage and refinancing risk, and extensive international, regulatory and cybersecurity exposure.

Tidewater Inc. reported solid full-year 2025 results with a sharp earnings jump despite a soft offshore backdrop. Revenue for 2025 was $1,352.8 million, up slightly from 2024, while net income rose to $333.5 million and Adjusted EBITDA reached $598.1 million. Results were helped by a non-cash deferred tax benefit of $201.5 million tied to a vessel realignment.

The business generated $379.1 million of operating cash flow and $426.0 million of free cash flow in 2025, allowing Tidewater to repurchase 2.5 million shares for $98.2 million. Year-end cash rose to $578.8 million, and common shares outstanding were 49,566,334.

Fourth-quarter 2025 revenue was $336.8 million, down 2.4% year over year, but net income jumped to $219.4 million and Adjusted EBITDA was $143.1 million, aided by a $2.1 million foreign exchange gain and the tax benefit. Average day rate was $22,044 per day, only slightly below the prior year, with vessel utilization in the high 70% range on a global basis.

Tidewater updated 2026 guidance to revenue of $1.43 to $1.48 billion and a gross margin of 49% to 51%, reflecting the previously announced Wilson Sons Ultratug acquisition in Brazil. The company also highlighted $500 million of remaining share repurchase authorization.

Tidewater Inc. has entered a definitive agreement to acquire all shares of Wilson Sons Ultratug Participações S.A. and Atlantic Offshore Services S.A., whose assets include 22 platform supply vessels in Brazil, for an enterprise value of approximately $500 million, including assumed debt of about $261 million as of September 30, 2025.

The deal is structured as an all-cash purchase funded from cash on hand, with completion subject to Brazilian antitrust (CADE) approval, lender consents, delivery of required financial statements and other customary conditions, and a long-stop date of December 31, 2026. Tidewater expects WSUT to generate roughly $220 million of revenue and a gross margin near 58% over the first 12 months after a late second-quarter 2026 closing, with about $14 million of annual G&A expense and a pro forma net leverage ratio below 1.0x.

Tidewater Inc. executive vice president and general counsel Daniel A. Hudson reported an open-market sale of 15,000 shares of common stock on February 23, 2026 at a weighted average price of $77.50 per share. The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 17, 2025. After this transaction, Hudson directly holds 50,986 shares of Tidewater common stock.

The Charles Schwab Corporation notice: an affiliate reporter intends to sell up to 15,000 shares of common stock.

The filing shows an earlier sale by Daniel Allen Hudson of 10,000 shares on 02/11/2026 for $700,092.00. The securities to be sold are listed as common shares with an indicated date of 02/23/2026.

Tidewater Inc. executive Daniel A. Hudson, EVP & General Counsel, reported an open-market sale of company stock. On 02/11/2026, he sold 10,000 shares of Tidewater common stock at a weighted average price of $70.0093 per share under a pre-arranged Rule 10b5-1 trading plan adopted on March 17, 2025.

After this transaction, Hudson directly owned 65,986 Tidewater shares. The sale was executed in multiple trades at prices ranging from $70.00 to $70.1050, with the reported price reflecting the weighted average for the transaction.

An affiliate of the issuer has filed a Form 144 notice to sell 10,000 shares of common stock through broker The Charles Schwab Corporation. The planned sale has an aggregate market value of $700,092.00 and is expected around 02/11/2026 on the NYSE.

The seller acquired these 10,000 common shares on 03/22/2023 as award/compensation from the issuer. Shares of the issuer’s common stock outstanding were 49,563,157 at the time referenced, providing context for the size of the proposed sale.

Tidewater Inc. executive reports routine share withholding for taxes. The company’s EVP & Chief Operating Officer filed a Form 4 disclosing that on 01/02/2026, 2,053 shares of Tidewater common stock were withheld at $52.23 per share. These shares were used to cover taxes due when restricted stock units vested. After this tax withholding, the officer directly beneficially owns 25,442 shares of Tidewater common stock.