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Tidewater Inc. (TDW)
NYSE:TDW
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.94Last Year’s EPS
$0.7Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -23.62%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook with strong financial metrics such as increased free cash flow and improved day rates, alongside challenges in utilization and uncertain growth in offshore activities. While there are positive indicators like share repurchases and record-breaking day rates, the uncertainty in market conditions and increased costs pose significant challenges.Company Guidance
During Tidewater's Q3 2024 earnings call, the company shared several key metrics and provided guidance for the upcoming quarters. Revenue for the third quarter was reported at $340.4 million, with gross margins at 47.2% and free cash flow generation at $67 million. Year-to-date free cash flow totaled nearly $224 million, a significant increase of $174 million compared to the previous year. The company also highlighted a 5% improvement in average day rates, surpassing expectations by over $600 per day, although utilization fell slightly due to increased idle time and drydock days. Looking ahead, Tidewater anticipates 2025 to outperform 2024, driven by continued day rate increases and a reduction in drydock days, though they withheld specific guidance due to current market uncertainties. Additionally, the company emphasized a strategic focus on share repurchases, having already repurchased $48 million in shares year-to-date, with a total of $83 million since the program's inception. As of the call, the contracted backlog for the fourth quarter was approximately $332 million, with 79% of available days contracted.Substantial Increase in Free Cash Flow
Generated nearly $224 million of free cash flow year-to-date, which is $174 million more than the same period last year.
Record-Breaking Day Rates
Achieved record-breaking day rates, with an increase of over $600 per day from expectations and an overall increase of 5% in average day rates.
Share Repurchase Program
Repurchased about $15 million of shares in the open market this quarter, bringing year-to-date share repurchases to about $48 million.
Increased Share Repurchase Capacity
Board of Directors authorized an additional $10.1 million of share repurchase capacity, bringing the total unused capacity to $42.8 million.
Positive Day Rate Trends
Day rates in the largest PSV classes increased significantly, with over 6% and 26% sequential growth in certain classes.
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TDW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TDW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $64.15 | $56.07 | -12.60% |
| Aug 06, 2024 | $88.15 | $84.94 | -3.64% |
| May 02, 2024 | $93.89 | $106.51 | +13.44% |
| Feb 29, 2024 | $70.03 | $80.09 | +14.37% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Tidewater Inc. (TDW) report earnings?
Tidewater Inc. (TDW) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Tidewater Inc. (TDW) earnings time?
Tidewater Inc. (TDW) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TDW EPS forecast?
TDW EPS forecast for the fiscal quarter 2024 (Q4) is $0.94.
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