07:18 AM EDT, 08/15/2024 (MT Newswires) -- Tidewater Midstream and Infrastructure ( TWMIF ) said earlier Thursday that it narrowed its attributable net loss in the second quarter.

The company reported an attributable net loss of $4.7 million, or $0.01 per share, trimming the previous attributable net loss of $6.4 million, or $0.02 per share.

Tidewater attributed the improvement to higher operating income, offset in part by unfavorable changes in the fair value of derivative contracts, and the absence of a deferred income tax recovery.

Adjusted EBITDA inched up to $45.3 million from $44.0 million.

Tidewater cut its 2024 adjusted EBITDA guidance to a range of $130 million to $150 million from $150 million to $170 million, citing uncertainty surrounding British Columbia's low-carbon fuel standard credit market.