12:44 PM EDT, 05/03/2024 (MT Newswires) -- Tidewater (TDW) shares were up 12.6% in recent Friday trading, a day after the company reported Q1 earnings and revenue ahead of the consensus.

The company reported Q1 earnings Thursday of $0.89 per diluted share, up from $0.21 a year earlier.

Three analysts surveyed by Capital IQ expected $0.57.

Revenue for the quarter ended March 31 was $321.2 million, up from $193.1 million a year earlier.

Four analysts surveyed by Capital IQ expected $312.1 million.

The company reiterated its full-year 2024 revenue guidance of $1.40 billion to $1.45 billion. Analysts surveyed by Capital IQ expect $1.42 billion.

Additionally, the company's board authorized a new share repurchase program of up to $18.1 million, increasing total repurchase authorization to $50.7 million.

Price: 105.73, Change: +11.84, Percent Change: +12.61