Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Independent Director Melissa L. Cougle was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • May 06
Tidewater Inc. Reiterates Earnings Guidance for the Year 2026 Tidewater Inc. reiterated earnings guidance for the year 2026. For the year, the company is comfortable reiterating 2026 revenue guidance of $1.43 billion to $1.48 billion. Duyuru • Apr 30
Tidewater Inc., Annual General Meeting, Jun 16, 2026 Tidewater Inc., Annual General Meeting, Jun 16, 2026. Duyuru • Apr 28
Tidewater Inc. to Report Q1, 2026 Results on May 04, 2026 Tidewater Inc. announced that they will report Q1, 2026 results After-Market on May 04, 2026 Duyuru • Mar 20
Darron M. Anderson Announces Not Stand for Re-Election to the Board of Tidewater Inc On March 17, 2026, Darron M. Anderson notified the Board of Directors (the “Board”) of Tidewater Inc. (the “Company”) of his intent to not stand for reelection as a Director of the Board at the Company’s 2026 Annual Meeting of Stockholders (the “2026 Annual Meeting”). Mr. Anderson’s decision not to stand for reelection did not result from any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. Mr. Anderson will continue his role as Director and member of the Audit Committee and Safety & Sustainability Committee of the Board until the expiration of his current term at the 2026 Annual Meeting. In connection with Mr. Anderson’s resignation as a director, the size of the Board of Directors will be reduced from eight to seven Directors. Duyuru • Mar 03
Tidewater Inc. Updates Earnings Guidance for the Year 2026 Tidewater Inc. updated earnings guidance for the year 2026. For the year, the company now expects revenue to be in between $1.43 billion to $1.48 billion. Duyuru • Feb 27
Tidewater Inc. to Report Q4, 2025 Results on Mar 02, 2026 Tidewater Inc. announced that they will report Q4, 2025 results After-Market on Mar 02, 2026 Duyuru • Feb 23
Tidewater Inc. (NYSE:TDW) entered into a definitive agreement to acquire Wilson, Sons Ultratug Participações S.A. from Wilson Sons S.A., Ultranav International II, S.A., and Remolcadores Ultratug Ltda for $500 million. Tidewater Inc. (NYSE:TDW) entered into a definitive agreement to acquire Wilson, Sons Ultratug Participações S.A. from Wilson Sons S.A., Ultranav International II, S.A., and Remolcadores Ultratug Ltda for $500 million on February 22, 2026. Tidewater Inc. will pay an aggregate cash purchase price of $500 million on a debt free, cash free basis, subject to adjustments, including the assumption of WSUT’s existing debt. It is also anticipated that WSUT’s existing debt of approximately $261 million (as of September 30, 2025) provided by BNDES and Banco do Brasil will be rolled over as part of the Transaction.
The Transaction was unanimously approved by Tidewater’s Board of Directors and subject to required regulatory approvals and other customary closing conditions including approval from the Brazilian Antitrust Authority (CADE). The expected completion of the transaction is late in the second quarter of 2026.
Piper Sandler Companies (NYSE:PIPR) acted as financial advisor, Skadden, Arps, Slate, Meagher & Flom LLP and Machado, Meyer, Sendacz e Opice acted as legal advisor for Tidewater Inc. Duyuru • Nov 11
Tidewater Inc. Updates Earnings Guidance for the Year 2025 and Initiates Earnings Guidance for the Year 2026 Tidewater Inc. updated earnings guidance for the year 2025 and initiated earnings guidance for the year 2026. For the year 2025, the company expects revenue in the range of 1.33 billion to $1.35 billion and full-year margin guidance to 49% to 50%.
For the year 2026, the company expects revenue in the range of 1.32 billion to $1.37 billion and full-year 2026 margin guidance of 48% to 50%. Duyuru • Nov 04
Tidewater Inc. to Report Q3, 2025 Results on Nov 10, 2025 Tidewater Inc. announced that they will report Q3, 2025 results After-Market on Nov 10, 2025 Duyuru • Jul 29
Tidewater Inc. to Report Q2, 2025 Results on Aug 04, 2025 Tidewater Inc. announced that they will report Q2, 2025 results After-Market on Aug 04, 2025 Duyuru • Jul 08
Tidewater Inc. Appoints Piers Middleton as Executive Vice President and Chief Operating Officer, Effective July 1, 2025 On June 30, 2025, Tidewater Inc. announced that Piers Middleton, 52, has been named Executive Vice President and Chief Operating Officer of the Company, effective July 1, 2025. From June 2024 until his appointment, Mr. Middleton, served as the Company’s Executive Vice President and Chief Commercial Officer. From June 2023 until June 2024, he served as the Company’s Senior Vice President and Chief Commercial Officer, and from September 2020 until June 2023, he served as the Company’s Vice President, Sales and Marketing. Prior to joining the Company, Mr. Middleton was a Managing Director at Clarksons PLC (London: CKN), a global company providing various services in the maritime industry, including brokering, finance, port services and research, where he founded and lead the global Offshore & Newbuilding Divisions for over 19 years. He began his career in 1996 with Derrick Offshore Ltd., which was a leading international shipbroker specializing in the offshore energy and subsea cable industries that merged with Pareto JGO Shipbrokers in 2014. Mr. Middleton has a Bachelor of Arts with Honors in Ancient History and Classical Archaeology from the University of Warwick in the UK, completed the Corporate Governance Program at UCLA in 2024 and graduated from the Executive Program at UCLA in February 2025. Duyuru • Jun 12
Tidewater Inc. Announces That David Darling to Cease as Executive Vice President & Chief Operating Officer, Effective June 30, 2025 Tidewater Inc. announced that David Darling, 70, Executive Vice President & Chief Operating Officer, will cease serving in his role as an executive officer of the Company effective June 30, 2025, as part of a long-term plan to facilitate the orderly succession of the Company’s executive team. Mr. Darling will continue to provide services to the Company over the next 18 months to support the transition of his responsibilities but will no longer be in an executive decision-making or policy-setting role. Duyuru • May 06
Tidewater Inc. Reiterates Earnings Guidance for the Year 2025 Tidewater Inc. Reiterated earnings guidance for the year 2025. For the year, the company expects revenue of $1.32 billion to $1.38 billion and gross margin guidance of 48% to 50%. Duyuru • Apr 29
Tidewater Inc. to Report Q1, 2025 Results on May 05, 2025 Tidewater Inc. announced that they will report Q1, 2025 results After-Market on May 05, 2025 Duyuru • Apr 28
Tidewater Inc., Annual General Meeting, Jun 05, 2025 Tidewater Inc., Annual General Meeting, Jun 05, 2025. Duyuru • Feb 28
Tidewater Inc. Provides Earnings Guidance for the Year 2025 Tidewater Inc. provided earnings guidance for the year 2025. For the year, the company expects revenue of $1.32 billion to $1.38 billion. Duyuru • Feb 21
Tidewater Inc. to Report Q4, 2024 Results on Feb 27, 2025 Tidewater Inc. announced that they will report Q4, 2024 results After-Market on Feb 27, 2025 Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €50.52, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Energy Services industry in Europe. Total returns to shareholders of 363% over the past three years. Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: US$0.88 (vs US$0.50 in 3Q 2023) Third quarter 2024 results: EPS: US$0.88 (up from US$0.50 in 3Q 2023). Revenue: US$340.4m (up 14% from 3Q 2023). Net income: US$46.4m (up 77% from 3Q 2023). Profit margin: 14% (up from 8.8% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has only increased by 73% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 08
Tidewater Inc. Updates Revenue Guidance for the Year 2024 Tidewater Inc. Updated revenue guidance for the year 2024. For the period, the company updated revenue guidance to $1.33 billion to $1.35 billion. Duyuru • Nov 01
Tidewater Inc. to Report Q2, 2025 Results on Nov 07, 2024 Tidewater Inc. announced that they will report Q2, 2025 results After-Market on Nov 07, 2024 Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €67.14, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 7x in the Energy Services industry in Europe. Total returns to shareholders of 610% over the past three years. Duyuru • Aug 09
Tidewater Inc. Updates Revenue Guidance for the Year 2024 Tidewater Inc. Updated revenue guidance for the year 2024. The company updated full-year revenue guidance to $1.39 to $1.41 billion. Reported Earnings • Aug 07
Second quarter 2024 earnings released: EPS: US$0.96 (vs US$0.44 in 2Q 2023) Second quarter 2024 results: EPS: US$0.96 (up from US$0.44 in 2Q 2023). Revenue: US$339.2m (up 58% from 2Q 2023). Net income: US$50.4m (up 123% from 2Q 2023). Profit margin: 15% (up from 11% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 101% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 01
Tidewater Inc. to Report Q2, 2024 Results on Aug 06, 2024 Tidewater Inc. announced that they will report Q2, 2024 results After-Market on Aug 06, 2024 Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. Independent Director Melissa Cougle was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jun 13
Independent Director recently sold €2.5m worth of stock On the 10th of June, Louis Raspino sold around 26k shares on-market at roughly €96.98 per share. This transaction amounted to 38% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €15m. Insiders have been net sellers, collectively disposing of €31m more than they bought in the last 12 months. Recent Insider Transactions • May 14
President recently sold €15m worth of stock On the 7th of May, Quintin Kneen sold around 150k shares on-market at roughly €101 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Quintin's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • May 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €99.88, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 9x in the Energy Services industry in Europe. Total returns to shareholders of 792% over the past three years. Reported Earnings • May 03
First quarter 2024 earnings released: EPS: US$0.90 (vs US$0.21 in 1Q 2023) First quarter 2024 results: EPS: US$0.90 (up from US$0.21 in 1Q 2023). Revenue: US$321.2m (up 66% from 1Q 2023). Net income: US$47.0m (up 338% from 1Q 2023). Profit margin: 15% (up from 5.6% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 98% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Mar 10
Executive VP & CFO recently sold €1.5m worth of stock On the 5th of March, Samuel Rubio sold around 20k shares on-market at roughly €74.87 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Samuel has been a net seller over the last 12 months, reducing personal holdings by €2.7m. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €75.15, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 8x in the Energy Services industry in Europe. Total returns to shareholders of 526% over the past three years. New Risk • Mar 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Duyuru • Mar 01
Tidewater Inc. Provides Revenue Guidance for the Full Year 2024 Tidewater Inc. provided revenue guidance for the full year 2024. The company expects 2024 revenue in the range of $1.40 to $1.45 billion. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: US$1.88 (vs US$0.49 loss in FY 2022) Full year 2023 results: EPS: US$1.88 (up from US$0.49 loss in FY 2022). Revenue: US$1.01b (up 56% from FY 2022). Net income: US$97.2m (up US$118.9m from FY 2022). Profit margin: 9.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 75% per year, which means it is significantly lagging earnings growth. Duyuru • Mar 01
Tidewater Inc. (NYSE:TDW) announces an Equity Buyback for $48.6 million worth of its shares. Tidewater Inc. (NYSE:TDW) announces a share repurchase program. Under the program, the company will repurchase up to $48.6 million worth of its shares. The purpose of the program is to maximize returns to shareholders. Duyuru • Nov 09
Tidewater Inc. (NYSE:TDW) announces an Equity Buyback for $35 million worth of its shares. Tidewater Inc. (NYSE:TDW) announces a share repurchase program. Under the program, the company will repurchase up to $35 million worth of its shares. The program will be valid for four months. Reported Earnings • Nov 07
Third quarter 2023 earnings released: EPS: US$0.50 (vs US$0.12 in 3Q 2022) Third quarter 2023 results: EPS: US$0.50 (up from US$0.12 in 3Q 2022). Revenue: US$299.3m (up 56% from 3Q 2022). Net income: US$26.2m (up 387% from 3Q 2022). Profit margin: 8.8% (up from 2.8% in 3Q 2022). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has increased by 111% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 07
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (13% increase in shares outstanding). Significant insider selling over the past 3 months (€2.5m sold). Recent Insider Transactions • Sep 10
Executive VP & COO recently sold €1.2m worth of stock On the 6th of September, David Darling sold around 20k shares on-market at roughly €62.96 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €1.2m. This was David's only on-market trade for the last 12 months. Recent Insider Transactions • Aug 18
Executive VP & CFO recently sold €1.2m worth of stock On the 14th of August, Samuel Rubio sold around 22k shares on-market at roughly €57.14 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Samuel's only on-market trade for the last 12 months. New Risk • Aug 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (25% increase in shares outstanding). Duyuru • Aug 09
Tidewater Inc. Reiterates Earnings Guidance for the Year 2023 Tidewater Inc. reiterated earnings guidance for the year 2023. For the year, the company expects annual guidance of approximately $1.03 billion of revenue. Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: US$0.44 (vs US$0.61 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.44 (up from US$0.61 loss in 2Q 2022). Revenue: US$215.0m (up 32% from 2Q 2022). Net income: US$22.6m (up US$48.2m from 2Q 2022). Profit margin: 11% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has increased by 99% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jun 30
Tidewater Inc. Appoints Dick H. Fagerstal as Chairman of the Board Tidewater Inc. announced that Dick H. Fagerstal has been appointed non-executive Chairman of the Board. In addition, the Board has reduced the size of the Board from nine to eight members. Mr. Fagerstal serves as the Independent Director, Chairman of the Audit Committee, member of the ESG Committee of Valaris Limited since April 2021. He previously served as Executive Chairman of the Global Marine Group, based in Chelmsford, United Kingdom, a subsea cable installation and maintenance business operating globally in the telecoms, offshore renewables, and oil and gas sectors, from February 2020 to March 2023. From 2014 to 2020, Mr. Fagerstal served as Chairman &Chief Executive Officer of Global Marine Holdings LLC, which was the prior owner of the business. He served as an Independent Director of Frontier Oil Corporation, Manila, Philippines, from 2014 to 2017. Mr. Fagerstal previously held the positions of Senior Vice President, Finance &Corporate Development from 2003 to 2014 and Vice President Finance &Treasurer from 1997 to 2003 at SEACOR Holdings Inc. Mr. Fagerstal held the positions of Executive Vice President, Chief Financial Officer and Director of Era Group Inc. from 2011 to 2012 and was the Senior Vice President, Chief Financial Officer, and Director of Chiles Offshore Inc. from 1997 to 2002. From 1986 to 1997, Mr. Fagerstal served as a senior banker at DNB ASA in New York with a focus on the maritime and energy services industries, and before he started his business career, Mr. Fagerstal served as an officer in the Special Air Service unit of the Swedish Special Forces from 1979 to 1983. Mr. Fagerstal received a B.S. in Economics and Law from the University of Gothenburg and an M.B.A. in Finance from New York University, as a Fulbright Scholar. Reported Earnings • May 10
First quarter 2023 earnings released: EPS: US$0.21 (vs US$0.29 loss in 1Q 2022) First quarter 2023 results: EPS: US$0.21 (up from US$0.29 loss in 1Q 2022). Revenue: US$193.1m (up 83% from 1Q 2022). Net income: US$10.7m (up US$22.9m from 1Q 2022). Profit margin: 5.6% (up from net loss in 1Q 2022). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has increased by 106% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Mar 23
Independent Director recently bought €1.0m worth of stock On the 17th of March, Robert Robotti bought around 27k shares on-market at roughly €37.19 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €393k more in shares than they have sold in the last 12 months. Reported Earnings • Mar 01
Full year 2022 earnings released: US$0.49 loss per share (vs US$3.15 loss in FY 2021) Full year 2022 results: US$0.49 loss per share (improved from US$3.15 loss in FY 2021). Revenue: US$647.7m (up 75% from FY 2021). Net loss: US$21.7m (loss narrowed 83% from FY 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Breakeven Date Change • Nov 17
Forecast to breakeven in 2023 The 3 analysts covering Tidewater expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$113.0m in 2023. Average annual earnings growth of 107% is required to achieve expected profit on schedule. Duyuru • Nov 10
Tidewater Inc. has completed a Follow-on Equity Offering in the amount of $120.634399 million. Tidewater Inc. has completed a Follow-on Equity Offering in the amount of $120.634399 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 3,987,914
Price\Range: $30.25
Discount Per Security: $0.86063 Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: US$0.12 (vs US$0.64 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0.12 (up from US$0.64 loss in 3Q 2021). Revenue: US$191.8m (up 108% from 3Q 2021). Net income: US$5.38m (up US$31.6m from 3Q 2021). Profit margin: 2.8% (up from net loss in 3Q 2021). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 29% per year. Board Change • Oct 31
High number of new directors Independent Director Melissa Cougle was the last director to join the board, commencing their role in 2022. Duyuru • Aug 11
Tidewater Inc. has completed a Follow-on Equity Offering in the amount of $62.832 million. Tidewater Inc. has completed a Follow-on Equity Offering in the amount of $62.832 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 3,520,000
Price\Range: $17.85 Reported Earnings • Aug 05
Second quarter 2022 earnings released: US$0.61 loss per share (vs US$0.72 loss in 2Q 2021) Second quarter 2022 results: US$0.61 loss per share (up from US$0.72 loss in 2Q 2021). Revenue: US$163.4m (up 82% from 2Q 2021). Net loss: US$25.6m (loss narrowed 13% from 2Q 2021). Over the next year, revenue is expected to shrink by 7.4% compared to a 18% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • May 25
Executive VP & COO recently sold €611k worth of stock On the 19th of May, David Darling sold around 25k shares on-market at roughly €24.43 per share. This was the largest sale by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Reported Earnings • May 11
First quarter 2022 earnings released: US$0.29 loss per share (vs US$0.87 loss in 1Q 2021) First quarter 2022 results: US$0.29 loss per share (up from US$0.87 loss in 1Q 2021). Revenue: US$105.7m (up 27% from 1Q 2021). Net loss: US$12.2m (loss narrowed 66% from 1Q 2021). Over the next year, revenue is forecast to grow 1.2%, compared to a 18% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Duyuru • May 03
Tidewater Inc., Annual General Meeting, Jun 14, 2022 Tidewater Inc., Annual General Meeting, Jun 14, 2022, at 10:00 Central Standard Time. Agenda: To elect nine directors, each for a one-year term; to approve, on an advisory basis, executive compensation as disclosed in this proxy statement (the say-on-pay" vote); to ratify the selection of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2022; and to transact such other business as may properly come before the meeting or any adjournment thereof. Board Change • Apr 29
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Melissa Cougle was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Apr 23
Tidewater Inc. (NYSE:TDW) completed the acquisition of Swire Pacific Offshore Services (Pte.) Limited from Banyan Overseas Limited. Tidewater Inc. (NYSE:TDW) entered into definitive agreement to acquire Swire Pacific Offshore Services (Pte.) Limited from Banyan Overseas Limited for approximately $190 million on March 9, 2022. The consideration consists of 8,100,000 Jones Act warrants, each of which will be initially exercisable for one share of Tidewater common stock at $0.001 per share which would represent approximately 15.6% of TDW’s outstanding share and $42 million in cash. The cash portion of the purchase price is subject to customary adjustment mechanisms related to SPO’s closing date working capital, cash and indebtedness. TDW will use available cash on hand to fund the cash portion of the consideration. The combined businesses will operate under the Tidewater brand and will continue to be led by TDW Chief Executive Officer Quintin Kneen. The Board of Directors structure for TDW will remain unchanged upon completion of the transaction. The transaction is subject to listing of Tidewater's new shares and other closing conditions. The transaction has been approved by board of Tidewater. The transaction is subject to regulatory approval and is expected to close in the second quarter of 2022. Evercore L.P. acted as financial advisor and Vinson & Elkins LLP acted as legal advisor to Tidewater. Arman Kuyumjian, William Sherman, Robin Feiner, Gabriel Benincasa, Ronald Oleynik, Antonia Tzinova, John Martini, Mark Francis, Elizabeth Burkhard, Dan Neustadt, John Dierking and Kerry Kehoe of Holland & Knight LLP acted as legal advisor to Banyan Overseas Limited. Moelis & Company LLC acted as financial advisor to Swire Pacific Limited, parent company of Banyan Overseas Limited.
Tidewater Inc. (NYSE:TDW) completed the acquisition of Swire Pacific Offshore Services (Pte.) Limited from Banyan Overseas Limited on April 22, 2022. Reported Earnings • Mar 10
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: US$3.15 loss per share (up from US$4.86 loss in FY 2020). Revenue: US$371.0m (down 6.5% from FY 2020). Net loss: US$129.0m (loss narrowed 34% from FY 2020). Revenue exceeded analyst estimates by 3.0%. Over the next year, revenue is forecast to grow 6.6%, compared to a 22% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Board Change • Feb 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Melissa Cougle was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 31
High number of new directors Independent Director Bob Robotti was the last director to join the board, commencing their role in 2021. Recent Insider Transactions • Dec 05
Independent Director recently bought €465k worth of stock On the 30th of November, Robert Robotti bought around 50k shares on-market at roughly €9.30 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €961k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 20
Insider recently bought €227k worth of stock On the 15th of November, Suzanne Robotti bought around 22k shares on-market at roughly €10.33 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €496k more in shares than they have sold in the last 12 months. Reported Earnings • Nov 10
Third quarter 2021 earnings released: US$0.64 loss per share (vs US$0.94 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$92.4m (up 6.9% from 3Q 2020). Net loss: US$26.3m (loss narrowed 31% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Duyuru • Aug 12
Tidewater Inc. Reports Impairment Loss for the Quarter Ended June 30, 2021 Tidewater Inc. reported impairment loss for the quarter Ended June 30, 2021. For the quarter, Affiliate credit loss impairment expense was $1,000,000. Reported Earnings • Aug 10
Second quarter 2021 earnings released: US$0.72 loss per share (vs US$2.75 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: US$90.0m (down 12% from 2Q 2020). Net loss: US$29.5m (loss narrowed 73% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Reported Earnings • May 08
First quarter 2021 earnings released: US$0.87 loss per share (vs US$0.46 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: US$83.5m (down 28% from 1Q 2020). Net loss: US$35.3m (loss widened 92% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Duyuru • Mar 16
Tidewater Inc. Announces Executive Promotions Tidewater Inc. announced the promotion of two key members of the company’s executive team, Sam R. Rubio and David E. Darling. Since the 2018 merger with GulfMark Offshore, Sam has served as the company’s Chief Accounting Officer and has been instrumental in the design and implementation of new accounting and financial infrastructure. Sam drove the significant cost savings and increase in administrative efficiency the company has demonstrated following the merger and was instrumental in adjusting the shore base organization to reflect the changing market conditions. David has over 30 years of experience in offshore vessel industry operations. He began his career as a vessel Captain in 1984 and first joined Tidewater upon its merger with Zapata Gulf Marine in 1991. Mr. Darling has been promoted to Executive Vice President and Chief Operating Officer, after leading the Company’s substantial organizational restructuring in the role of Chief Human Resources Officer since joining Tidewater in early 2018. Analyst Estimate Surprise Post Earnings • Mar 05
Revenue beats expectations Revenue exceeded analyst estimates by 3.5%. Over the next year, revenue is forecast to decline by -14% while the Energy Services industry in Germany is not expected to grow. Reported Earnings • Mar 05
Full year 2020 earnings released: US$4.86 loss per share (vs US$3.71 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$397.0m (down 18% from FY 2019). Net loss: US$196.2m (loss widened 38% from FY 2019). Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 05
New 90-day high: €11.80 The company is up 48% from its price of €8.00 on 04 December 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.73 per share. Duyuru • Feb 27
Tidewater Inc., Annual General Meeting, Jun 08, 2021 Tidewater Inc., Annual General Meeting, Jun 08, 2021. Is New 90 Day High Low • Feb 10
New 90-day high: €9.80 The company is up 46% from its price of €6.70 on 11 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.70 per share. Is New 90 Day High Low • Jan 20
New 90-day high: €9.70 The company is up 95% from its price of €4.98 on 22 October 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 40% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.72 per share. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue misses expectations Revenue missed analyst estimates by 2.8%. Over the next year, revenue is expected to shrink by 10% compared to a 9.7% decline forecast for the Energy Services industry in Germany. Reported Earnings • Nov 07
Third quarter 2020 earnings released: US$0.94 loss per share The company reported a soft third quarter result with weaker revenues and control over expenses, though losses reduced. Third quarter 2020 results: Revenue: US$86.5m (down 28% from 3Q 2019). Net loss: US$37.9m (loss narrowed 14% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Duyuru • Nov 07
Tidewater Inc. Revises Revenue Guidance for the Year 2020 Tidewater Inc. revised estimated revenue for 2020. For the period, the company anticipated full year revenue to be approximately $385 million, which is down $5 million. Is New 90 Day High Low • Oct 29
New 90-day low: €4.94 The company is down 7.0% from its price of €5.30 on 30 July 2020. The German market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.