Tidewater Inc ( (TDW) ) has released its Q4 earnings. Here is a breakdown of the information Tidewater Inc presented to its investors.
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Tidewater Inc. is a leading provider of offshore support vessels, operating the largest fleet in the industry with over 65 years of experience in supporting offshore energy exploration and production activities worldwide. The company recently reported its financial results for the year ending December 31, 2024, showcasing significant growth in revenue and profitability. Tidewater’s revenue for the year reached $1,345.8 million, marking a 33.3% increase from the previous year, while net income surged by 85.9% to $180.7 million. The company also reported a substantial rise in free cash flow, which increased by 197.1% to $331.0 million, and continued its share repurchase program, buying back 1.4 million shares for $90.7 million in 2024. Despite facing a foreign exchange loss due to the strengthening U.S. dollar, Tidewater’s financial performance was bolstered by higher day rates and strategic fleet management. Looking ahead, Tidewater’s management remains optimistic about the company’s prospects for 2025, expecting revenue and free cash flow to remain strong, supported by favorable market conditions and a robust balance sheet.