Inferra AI / Company / TDW
Tidewater Inc.
TDW · Industrials
Last earnings Aug 3, 2026
Key results
Revenuequarter
$341.4 million
Revenue of $341.4 million, a 0.6% improvement compared to the second quarter of 2024 Average day rate of $23,166 per day, an improvement of $2,036 per day, or 9.6%, compared to the second quarter of 2024
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
Gross marginquarter
50.0%
revenue of $341.4 million and the third consecutive quarter with a gross margin above 50.0%, coming in at 50.1%.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
Free cash flowquarter
$97.5 million
Free cash flow of $97.5 million also continued to demonstrate the free cash flow generation capability of our fleet.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
Net incomequarter
$27.0 million
This resulted in a one-time, non-cash increase in net income of $27.0 million.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
AI analysis
Q2 2025 · reported Aug 4, 2025
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
The quarter in charts
Guidance ladder — revenue
Delivered vs the company's guided range
EX-99 · Aug 4, 2025 Guide as stated by the company; range and midpoint computed from the stated figure.
Headline figures
| Metric | Q2 2025 | Prior qtr | Year ago |
|---|---|---|---|
| Revenue | $341.4 million | — | — |
| Gross margin | 50.0% | — | — |
| Free cash flow | $97.5 million | — | — |
| Net income | $27.0 million | — | — |
Guidance · company-stated
Direction: Reiterated
“dollar Net cash provided by operating activities of $85.4 million and free cash flow of $97.5 million Share Repurchase Program and 2025 Guidance Share count was reduced by 1.4 million shares during the second quarter through repurchases of $50.8 million at an average price of $36.80 per share Board of Directors authorizes new share repurchase program of $500 million Reiterating 2025 revenue guidance of $1.32 to $1.38 billion and 2025 gross margin guidance of 48% to 50% HOUSTON, August 4, 2025 - Tidewater Inc.”
“We are comfortable reiterating our 2025 guidance of $1.32 billion to $1.38 billion of revenue and gross margin guidance of 48% to 50% due to the strong first half of the year and that, as of today, 93% of our revenue guidance is covered by completed and contracted future revenue for the full year.”
“We remain confident in maintaining our full year guidance for 2025, but this uncertainty has brought down our expectations for the second half of the year.”
Classified from the release's primary full-year outlook statement.
Margin
Cash flow & capex
Capital allocation
dollar Net cash provided by operating activities of $85.4 million and free cash flow of $97.5 million Share Repurchase Program and 2025 Guidance Share count was reduced by 1.4 million shares during the second quarter through repurchases of $50.8 million at an average price of $36.80 per share Board of Directors authorizes new share repurchase program of $500 million Reiterating 2025 revenue guidance of $1.32 to $1.38 billion and 2025 gross margin guidance of 48% to 50% HOUSTON, August 4, 2025 - Tidewater Inc.
What changed vs last quarter
- Guide midpoint vs latest-quarter revenue -75.0% computed from stated figures
Event summary
Tidewater Inc. — Earnings release (2025-08-04)
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Guidance & outlook
Direction: Reiterated
Revenue: “dollar Net cash provided by operating activities of $85.4 million and free cash flow of $97.5 million Share Repurchase Program and 2025 Guidance Share count was reduced by 1.4 million shares during the second quarter through repurchases of $50.8 million at an average price of $36.80 per share Board of Directors authorizes new share repurchase program of $500 million Reiterating 2025 revenue guidance of $1.32 to $1.38 billion and 2025 gross margin guidance of 48% to 50% HOUSTON, August 4, 2025 - Tidewater Inc.”
Revenue: “We are comfortable reiterating our 2025 guidance of $1.32 billion to $1.38 billion of revenue and gross margin guidance of 48% to 50% due to the strong first half of the year and that, as of today, 93% of our revenue guidance is covered by completed and contracted future revenue for the full year.”
Revenue — Reiterated (“Reiterating”)
“dollar Net cash provided by operating activities of $85.4 million and free cash flow of $97.5 million Share Repurchase Program and 2025 Guidance Share count was reduced by 1.4 million shares during the second quarter through repurchases of $50.8 million at an average price of $36.80 per share Board of Directors authorizes new share repurchase program of $500 million Reiterating 2025 revenue guidance of $1.32 to $1.38 billion and 2025 gross margin guidance of 48% to 50% HOUSTON, August 4, 2025 - Tidewater Inc.”
Company outlook — Reiterated (“maintaining”)
“We remain confident in maintaining our full year guidance for 2025, but this uncertainty has brought down our expectations for the second half of the year.”
Revenue — Reiterated (“reiterating”)
“We are comfortable reiterating our 2025 guidance of $1.32 billion to $1.38 billion of revenue and gross margin guidance of 48% to 50% due to the strong first half of the year and that, as of today, 93% of our revenue guidance is covered by completed and contracted future revenue for the full year.”
Classified from the release's primary full-year outlook statement.
Capital allocation
dollar Net cash provided by operating activities of $85.4 million and free cash flow of $97.5 million Share Repurchase Program and 2025 Guidance Share count was reduced by 1.4 million shares during the second quarter through repurchases of $50.8 million at an average price of $36.80 per share Board of Directors authorizes new share repurchase program of $500 million Reiterating 2025 revenue guidance of $1.32 to $1.38 billion and 2025 gross margin guidance of 48% to 50% HOUSTON, August 4, 2025 - Tidewater Inc.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
Subsequent to the end of the second quarter, we executed a refinancing transaction that achieved our target of establishing a long term, unsecured debt capital structure along with a sizable revolving credit facility.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
The proceeds of the $650.0 million senior unsecured notes offering completed in July substantially went to the redemption of our previously outstanding Nordic bonds and term loan facility.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
Further, in connection with the refinancing transaction, we entered into a $250.0 million revolving credit facility, which as of today is undrawn, which will allow us to comfortably reduce our level of cash on hand.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
Consequently, we are pleased to announce that our Board of Directors has authorized a new share repurchase program of $500 million.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
We define EBITDA as earnings (net income or loss) before interest and other debt costs, income tax expense, depreciation and amortization.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
Strategy & priorities
Free cash flow is determined from net cash provided by operating activities adjusted for capital expenditures, excluding expansion capital, proceeds from asset sales, cash interest expense and interest income and other.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
West Gotcher Senior Vice President, Strategy, Corporate Development and Investor Relations +1.713.470.5285 SOURCE: Tidewater Inc.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
During the six months ended June 30, 2026 , a gain on sale of a vessel was recognized in connection with an internal restructuring to reposition the vessel for strategic opportunities.
SEC original ↗Tidewater Inc. — 10-Q Quarterly report10-QAug 3, 2026
We continue to take steps to mitigate this additional foreign currency and repatriation risk with a focus on reducing cash balances denominated in currencies other than the U.
SEC original ↗Tidewater Inc. — 10-Q Quarterly report10-QAug 3, 2026
Risks & headwinds
The commodity price volatility and macroeconomic uncertainty that we observed in the first half of the year, and that we expected to subside as we progressed into the back half of the year, has continued to persist.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
We remain confident in maintaining our full year guidance for 2025, but this uncertainty has brought down our expectations for the second half of the year.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
2 If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in our forward-looking statements.
SEC original ↗Tidewater Inc. — Earnings release (8-K exhibit)EX-99Aug 4, 2025
LEGAL PROCEEDINGS 48 ITEM 1A.
SEC original ↗Tidewater Inc. — 10-Q Quarterly report10-QAug 3, 2026
Legal Proceedings In 2009, on behalf of the Venezuelan government, Petr leos de Venezuela, S.
SEC original ↗Tidewater Inc. — 10-Q Quarterly report10-QAug 3, 2026
Closing of the PDVH Sale and the collection of our judgement, if at all, are highly uncertain and present significant practical and legal challenges, including, without limitation, satisfaction of numerous closing conditions, including regulatory approval by the Office of Foreign Assets Control, and the positive final outcome of numerous claims filed by other parties opposing the PDVH Sale.
SEC original ↗Tidewater Inc. — 10-Q Quarterly report10-QAug 3, 2026
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
30 documents- Q3 2026
- 8-KTDW
Oct 5, 2026
- Q2 2026
- 8-KTDW
Sep 25, 2026
- 8-KTDW
Aug 31, 2026
- 10-QTDW
Aug 3, 2026
- 8-KTDW
Aug 3, 2026
- 8-KTDW
Jul 6, 2026
- Q1 2026
- 8-KTDW
Jun 18, 2026
- 10-QTDW
May 4, 2026
- 8-KTDW
May 4, 2026
- Q4 2025
- 8-KTDW
Mar 19, 2026
- 10-KTDW
Mar 2, 2026
- 8-KTDW
Mar 2, 2026
- 8-KTDW
Feb 24, 2026
- Q3 2025
- 8-KTDW
Nov 10, 2025
- 10-QTDW
Nov 10, 2025
- Q2 2025
- 8-KTDW
Aug 4, 2025
- 10-QTDW
Aug 4, 2025
- 8-KTDW
Jul 7, 2025
- Q1 2025
- 8-KTDW
Jun 24, 2025
- 8-KTDW
Jun 23, 2025
- 8-KTDW
Jun 11, 2025
- 8-KTDW
May 5, 2025
- 10-QTDW
May 5, 2025
- Q4 2024
- 10-KTDW
Feb 27, 2025
- 8-KTDW
Feb 27, 2025
- Q3 2024
- 8-KTDW
Nov 7, 2024
- 10-QTDW
Nov 7, 2024
- 8-KTDW
Nov 1, 2024
- Q2 2024
- 8-KTDW
Sep 27, 2024
- 8-KTDW
Sep 16, 2024
Earnings releases
9 documentsPresentations
0 documentsNo presentations for Tidewater Inc. are held in this edition of the library.
Transcripts
0 documentsNo transcripts for Tidewater Inc. are held in this edition of the library.
Mentioned by
1 companyOther tracked companies whose held documents mention Tidewater Inc. by name or ticker. A mention is counted once per document, from the document text the library holds.
“…million. In January 2026, Tidewater Utilities, Inc., a wholly owned subsidiary of Middlesex, completed the acquisition of the water utility assets of the Pinewood Acres' water utility as”
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