09:05 AM EST, 11/13/2025 (MT Newswires) -- Tidewater Midstream and Infrastructure ( TWMIF ) , the majority shareholder of Tidewater Renewables, on Thursday reported a widened net loss in the third quarter.

For the three-months ended Sept. 30, net loss attributable to shareholders was $34.1 million, or $1.58 net loss per basic share, compared with a net loss attributable to shareholders of $7.3 million, or $0.34 net loss attributable to shareholders per basic share, a year earlier. The result missed a consensus estimate compiled by FactSet of $0.46 loss per share.

"Looking forward to the remainder of 2025 and into 2026, we continue to focus on improving product margins at our downstream business and increasing throughput at our midstream facilities while managing costs across our operations," said Tidewater Midstream and Infrastructure ( TWMIF ) Chief Executive Jeremy Baines. "We welcome the announcement by the Government of Canada regarding its intention to introduce a $370 million Biofuel Production Incentive program and believe Tidewater Renewables is positioned to be a beneficiary of the program."

Shares of the company closed down 0.2% to $5.99 on Wednesday on the Toronto Stock Exchange.