Tidewater: Decent Quarter But Lowered Outlook Disappoints [Seeking Alpha]
Tidewater Inc. (TDW)
Last tidewater inc. earnings: 8/9 04:24 pm
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US:NYSE Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=81406&p=irol-irhome_pf
Company Research
Source: Seeking Alpha
Investing Group Leader Follow Summary Leading offshore service vessel provider Tidewater Inc. reported strong Q2/2024 results, with both top and bottom line results exceeding expectations. Revenues of $339.2 million and Adjusted EBITDA of $139.7 million represented new multi-year highs. The company's average dayrate of $21,130 moved up by 32% year-over-year and 8% sequentially. Despite the company's strong second quarter results, management lowered full-year expectations due to several drilling campaigns having been pushed out from the third into the fourth quarter. In addition, a combination of higher-than-anticipated dry-docking days and required vessel repositioning will impact Q3 results. Considering limited upside from current levels and with Tidewater screening expensive relative to other offshore oil and gas service stocks, I am reiterating my “Hold” rating on the shares. Igors Aleksejevs Note: Tidewater Inc. NYSE: TDW has been covered by me previously, so
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TDW
News
- Tidewater Inc. (NYSE: TDW) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Tidewater Inc. (NYSE: TDW) had its price target raised by analysts at Raymond James from $133.00 to $138.00. They now have a "strong-buy" rating on the stock.MarketBeat
- Tidewater (TDW) Tops Q2 Earnings and Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- Tidewater Reports Results for the Three and Six Months Ended June 30, 2024 [Yahoo! Finance]Yahoo! Finance
- Tidewater Reports Results for the Three and Six Months Ended June 30, 2024Business Wire
TDW
Earnings
- 8/6/24 - Beat
TDW
Sec Filings
- 9/27/24 - Form 8-K
- 9/16/24 - Form 8-K
- 8/6/24 - Form 8-K
- TDW's page on the SEC website