Tidewater Inc

TDW

Equity

ISIN US88642R1095 / Valor 37722882

New York Stock Exchange, Inc (2024-12-24)

USD 50.14-0.34%

Tidewater Inc
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Tidewater Inc. is a prominent player in the global energy sector, specializing in the provision of offshore support vessels (OSVs) for the oil and gas industry. With a history spanning over six decades, the company has established itself as a key support entity for offshore energy exploration and production activities around the world. Tidewater's extensive fleet, one of the largest in the industry, is designed to meet a wide range of needs for its clients, including logistical support and operational assistance in the exploration and extraction of offshore energy resources. The company's long-standing experience and specialized fleet underscore its significant role in facilitating the global offshore energy market.

Summarized from source with an LLMView SourceSector: Consumer Services

Revenue Growth

Tidewater Inc. reported revenue of $321.2 million for the first quarter of 2024, marking an increase of $18.5 million, or 6.1%, from the fourth quarter of 2023. This growth was driven by an increase in the average day rate to $19,563 per day, which is $1,497 higher than the previous quarter.

Net Income

For the first quarter of 2024, Tidewater Inc. achieved a net income of $47.0 million, an increase of $9.4 million from the fourth quarter of 2023. This translates to $0.89 per common share, compared to $0.21 per common share for the same period in the previous year.

Adjusted EBITDA

Tidewater Inc. reported an adjusted EBITDA of $139.0 million for the first quarter of 2024, which is an increase of $7.7 million from the fourth quarter of 2023. This improvement reflects the company's strong operational performance and cost management.

Free Cash Flow

In the first quarter of 2024, Tidewater Inc. generated $69.4 million in free cash flow, an increase of $8.4 million from the fourth quarter of 2023. This positive cash flow supports the company's ongoing share repurchase program and other capital allocation strategies.

2024 Guidance

Tidewater Inc. reiterated its full-year 2024 revenue guidance of $1.40 to $1.45 billion and gross margin guidance of 52%. The company remains optimistic about the continued pace of offshore activity acceleration and the constructive leading indicators observed during the first quarter.

Summarized from source with an LLMView Source

Key figures

-29.7%1Y

367%3Y

161%5Y

Performance

48.2%1Y

53.5%3Y

63.0%5Y

Volatility