Overview

* Tidewater Q3 revenue rises 0.2% yr/yr to $341.1 mln, net loss reported

* Net loss impacted by $27.1 mln debt extinguishment loss

* Company updates 2025 revenue guidance to $1.33-$1.35 bln

Outlook

* Company updates 2025 revenue guidance to $1.33 to $1.35 bln

* Tidewater initiates 2026 revenue guidance of $1.32 to $1.37 bln

* Company sees 2026 gross margin between 48% and 50%

Result Drivers

* VESSEL UP-TIME - Improved vessel up-time exceeded initial estimates, contributing to revenue growth

* DAY RATE INCREASES - Meaningful day rate increases in certain segments offset softening in North Sea and West Africa

* FOREIGN EXCHANGE GAIN - $1.3 mln foreign exchange gain due to weakening U.S. dollar positively impacted net income and adjusted EBITDA

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $338.49

Vessel mln

Revenues

Q3 Net -$1.02

Income mln

Q3 $62.65

Operatin mln

g Income

Q3 $20.69

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the oil related services and equipment peer group is "buy"

* Wall Street's median 12-month price target for Tidewater Inc ( TDW ) is $68.00, about 22.2% above its November 7 closing price of $52.90

* The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)