The earnings call highlighted strong financial performance, including record day rates, robust gross margins, and significant free cash flow. The company successfully refinanced its debt, improving its financial structure, and announced a substantial share repurchase program. However, the call also noted near-term market softness, particularly in the North Sea and West Africa, utilization challenges, and delayed payments from a major customer in Mexico. The company remains optimistic about the long-term outlook but faces short-term challenges.

Company Guidance -

Q3 2025

During the Tidewater Second Quarter 2025 Earnings Call, the company provided several key metrics, showcasing a strong performance. Revenue for the quarter reached $341.4 million, driven by a new quarterly day rate record of $23,166, surpassing expectations by over $1,300 per day. The gross margin exceeded forecasts, coming in at 50.1%, significantly higher than the anticipated 44%. The company generated $98 million in free cash flow, bringing the first half of 2025 total to over $192 million. Tidewater also announced the successful refinancing of their debt with a $650 million unsecured bond and a $250 million revolving credit facility. This new debt structure supports a $500 million share repurchase program, equating to over 20% of the company's market capitalization, while maintaining a net debt-to-EBITDA ratio well below 1x. Additionally, the company reiterated its full-year 2025 revenue guidance of $1.32 billion to $1.38 billion, with a gross margin range of 48% to 50%.

Record Day Rates

Day rates outperformed expectations by over $1,300 per day, setting a new quarterly day rate record at $23,166.

Gross Margin Performance

Gross margin exceeded expectations, coming in at 50.1% compared to the expected 44%, marking the third consecutive quarter over 50%.

Strong Free Cash Flow

Generated $98 million of free cash flow in Q2, the second highest since offshore recovery began, totaling over $192 million for the first half of 2025.

Debt Refinancing Achievement

Closed on a $650 million U.S. unsecured bond, achieving long-term debt capital structure goals, alongside a $250 million revolving credit facility for enhanced financial flexibility.

Share Repurchase Program

Board approved a $500 million share repurchase program, signaling confidence in long-term cash flow generation and shareholder returns.

Tidewater (TDW) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TDW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2025 (Q3)	0.74 / -	0.87	―	―	―
Aug 04, 2025	2025 (Q2)	0.52 / 1.46	0.94	55.32% (+0.52)
May 05, 2025	2025 (Q1)	0.61 / 0.83	0.89	-6.74% (-0.06)
Feb 27, 2025	2024 (Q4)	0.93 / 0.70	0.699	0.14% (<+0.01)
Nov 07, 2024	2024 (Q3)	1.07 / 0.87	0.603	44.28% (+0.27)	―
Aug 06, 2024	2024 (Q2)	0.90 / 0.94	0.46	104.35% (+0.48)	―
May 02, 2024	2024 (Q1)	0.63 / 0.89	0.237	275.53% (+0.65)	―
Feb 29, 2024	2023 (Q4)	0.72 / 0.70	0.3	133.00% (+0.40)	―
Nov 06, 2023	2023 (Q3)	1.25 / 0.60	-0.21	387.14% (+0.81)	―
Aug 07, 2023	2023 (Q2)	0.67 / 0.46	-0.1	560.00% (+0.56)	―

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

TDW Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 04, 2025	$48.91	$63.19	+29.20%
May 05, 2025	$38.01	$40.23	+5.84%
Feb 27, 2025	$48.60	$45.62	-6.13%
Nov 07, 2024	$64.15	$56.07	-12.60%

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.

FAQ

When does Tidewater Inc. (TDW) report earnings?

Tidewater Inc. (TDW) is schdueled to report earning on Nov 06, 2025, After Close (Confirmed).

What is Tidewater Inc. (TDW) earnings time?

Tidewater Inc. (TDW) earnings time is at Nov 06, 2025, After Close (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 2025 (Q3) is 0.74.

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