12:03 PM EDT, 03/27/2025 (MT Newswires) -- (Adds comment and updates shares.)

Tidewater Midstream and Infrastructure ( TWMIF ) was at last look on Thursday up near 6% as it reported a much-narrowed loss for the fourth quarter, largely due to the reversal of certain non-cash impairment charges taken in 2023.

The company reported a consolidated net loss attributable to shareholders of $3.3 million, or $0.01 loss per share, in the quarter, compared with a year-prior loss of $331.8 million or $0.78. It said the decrease was offset in part by a gain on sale of the Pipestone natural gas plant, an expansion project at the Pipestone plant, the Dimsdale natural gas storage assets, and associated gathering and other infrastructure to AltaGas ( ATGFF ) in the fourth quarter of 2023.

Adjusted EBITDA fell to $20 million from $21.4 million a year earlier, primarily due to higher adjusted EBITDA from equity investments and lower realized losses on derivative contracts in the comparative period.

The company expects its consolidated full-year 2025 capital program to range between $15 million and $20 million.

National Bank of Canada said expects modest changes to its run-rate estimates and overall forecasted financial position of Tidewater. The bank maintains its "cautious stance" on the stock pending confirmation of long-term market stability for the company's renewable diesel production and related emission credits. Analyst Patrick Kenny reiterated Tidewater's underperform rating and target of $0.10.

The company's shares were last seen up $0.015 at $0.235 on the Toronto Stock Exchange.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 0.24, Change: +0.02, Percent Change: +6.82