Overview

* Tidewater Q2 2025 revenue up 0.6% yr/yr, driven by vessel up-time

* Net income for Q2 boosted by $11.7 mln forex gain

* Co announced $500 mln share repurchase program, enhancing shareholder returns

Outlook

* Tidewater reiterates 2025 revenue guidance of $1.32 bln to $1.38 bln

* Company expects 2025 gross margin between 48% and 50%

* Tidewater says 93% of 2025 revenue guidance covered by contracts

* Company cites commodity price volatility affecting second half expectations

Result Drivers

* VESSEL UP-TIME - Improved vessel up-time drove revenue and margin performance, per CEO Quintin Kneen

* HIGHER DAY RATES - Average day rate increased by 9.6% to $23,166, benefiting from higher rate contracts

* FOREIGN EXCHANGE GAIN - Net income favorably impacted by $11.7 mln forex gain due to weaker U.S. dollar

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $336.86

Vessel mln

Revenues

Q2 Net $72.70

Income mln

Q2 Basic $1.47

EPS

Q2 $80.92

Operatin mln

g Income

Q2 $78.29

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "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 $60.00, about 20.8% above its August 1 closing price of $47.53

* The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

(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.)