Tidewater Inc ( (TDW) ) has released its Q2 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, primarily serving the energy exploration and production industry worldwide. The company operates the largest fleet in the sector, with over 65 years of experience.
In its latest earnings report, Tidewater Inc. announced a revenue of $341.4 million for the second quarter of 2025, marking a slight increase from the previous year. The company also reported a net income of $72.9 million and an adjusted EBITDA of $163.0 million, benefiting from a favorable foreign exchange gain.
Key financial highlights include an average day rate increase to $23,166, a significant improvement over the previous year, and a net cash flow from operations of $85.4 million. The company also reduced its share count by 1.4 million through a repurchase program and announced a new $500 million share repurchase authorization.
Looking ahead, Tidewater Inc. remains confident in its 2025 revenue guidance of $1.32 to $1.38 billion and a gross margin of 48% to 50%. Despite ongoing macroeconomic uncertainties, the company is optimistic about the long-term prospects for offshore vessel activity, supported by strong contract coverage for the year.