Tidewater (NYSE:TDW) Releases Quarterly Earnings Results, Misses Estimates By $0.37 EPS

Tidewater (NYSE:TDW) posted its quarterly earnings data on Monday. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.37), FiscalAI reports. Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The firm had revenue of $360.42 million for the quarter, compared to analysts’ expectations of $358.77 million. During the same quarter in the prior year, the business earned ($0.02) EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis.

Tidewater Price Performance

NYSE:TDW opened at $70.97 on Tuesday. Tidewater has a one year low of $49.54 and a one year high of $101.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47. The firm’s fifty day moving average price is $84.91 and its two-hundred day moving average price is $79.59. The company has a market cap of $3.53 billion, a P/E ratio of 14.37 and a beta of 0.63.

More Tidewater News

Here are the key news stories impacting Tidewater this week:

• Positive Sentiment: Tidewater reported third-quarter revenue of $360.4 million, up 5.7% year over year, and operating cash flow rose 37.4% to $75.2 million. Average day rates also increased sequentially to $23,775. Tidewater reports third-quarter revenue and net income
• Positive Sentiment: Management forecast 2027 revenue of $1.70 billion to $1.75 billion and margins of 51% to 53%. The company also repurchased about $25 million of shares since its previous earnings release, with $475 million remaining in its authorization. Tidewater reports third-quarter results and outlook
• Neutral Sentiment: Third-quarter sales were slightly mixed against estimates: $360.4 million topped one consensus figure of $358.8 million, but was below another estimate of $366.5 million. Tidewater posts third-quarter sales
• Negative Sentiment: EPS of $0.35 fell short of analyst expectations, which sources put at roughly $0.64 to $0.72, and was below $0.53 a year earlier. Higher costs and lower operating profit add to concerns about quarterly earnings quality, despite revenue growth. Tidewater lags third-quarter earnings estimates

Analyst Ratings Changes

A number of research firms have weighed in on TDW. Weiss Ratings downgraded Tidewater from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, November 4th. Barclays upped their price target on Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Finally, BTIG Research reaffirmed a “buy” rating and set a $120.00 price objective on shares of Tidewater in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.25.

Insider Buying and Selling at Tidewater

In other Tidewater news, EVP Samuel R. Rubio sold 17,705 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the sale, the executive vice president owned 33,214 shares in the company, valued at $3,041,073.84. This represents a 34.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth Traub sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the transaction, the director directly owned 63,521 shares of the company’s stock, valued at approximately $6,288,579. This represents a 13.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 42,705 shares of company stock valued at $4,097,270. 5.90% of the stock is currently owned by insiders.

About Tidewater

Tidewater Inc provides offshore support vessels and related marine services to the energy industry. Its vessels transport personnel, equipment and supplies between shore bases and offshore facilities, and support activities such as anchor handling, towing, platform operations and offshore construction.

The company operates a diverse fleet that includes platform supply vessels, anchor-handling tug supply vessels, crew boats and other specialized vessels. These services help customers carry out offshore exploration, development and production, as well as certain renewable-energy and subsea projects.

Founded in 1956, Tidewater has grown into an international vessel operator, serving offshore markets across regions including the Americas, Africa, the Middle East, Europe and Asia-Pacific.