Tidewater Inc. (TDW)
NYSE:TDW
Want to see TDW full AI Analyst Report?
Earnings Data
Report Date
Aug 10, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.6Last Year’s EPS
1.46Same Quarter Last Year
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a generally constructive operational and strategic picture: revenue, gross margin, and day-rate trends were better than internal expectations, backlog coverage is strong, the Wilson acquisition advances Tidewater's strategic footprint (notably Brazil), and management maintained full-year guidance. Counterbalancing these positives are sequential declines in revenue and EBITDA versus Q4, a sharp drop in free cash flow driven by one-time working capital timing and heavier dry-dock activity, exposure to incremental costs from Operation Epic Fury (potentially $10M–$11M/quarter if prolonged), and regional utilization pressures (notably Americas and Europe). Overall the company is positioned to benefit from tightening OSV markets and M&A optionality, but near-term cost and timing headwinds exist.Company Guidance
Revenue and Gross Margin Ahead of Plan
Q1 revenue of $326.2 million; gross margin ~48.8% (just under 49%), up slightly sequentially and ~3 percentage points above the company's internal plan.
Improved Day Rates and Contracting
Weighted-average leading-edge day rate increased modestly versus 2025; consolidated average day rates rose ~1% QoQ with Europe & Mediterranean up ~9% and APAC up ~7%; entered 18 term contracts in the quarter (average duration 13 months, median ~7 months).
Strong Operational Execution
Utilization remained robust at 80.6% despite a heavy dry-dock quarter (949 dry-dock days); uptime and fewer repair days contributed to better-than-expected operational performance.
Free Cash Flow Positive and Above Internal Estimate
Generated $34.4 million of free cash flow in Q1, beating internal expectations for a seasonally slower quarter.
Balance Sheet Strength and Liquidity
Management expects net leverage to be below 1.0x at Wilson close; $500 million share repurchase authorization remains available; no material near-term debt maturities on new unsecured notes until 2030.
Wilson Acquisition to Reenter Brazil
Agreement to acquire Wilson Sons Ultratug Offshore (22 PSVs) for $500 million; integration progressing and expected to close by end of Q2; pro forma strategy strengthens presence in Brazil and global OSV basins.
Maintained Full-Year 2026 Guidance
Full-year revenue guidance maintained at $1.43B–$1.48B and gross margin guidance of 49%–51%, assuming Wilson close at end of Q2.
Backlog and Contract Cover
Q1 revenue plus firm backlog and options represent ~$1.1 billion (≈84% of midpoint of legacy 2026 revenue guidance); approximately 69% of remaining available days captured and legacy utilization guidance ~80%, leaving ~11% capacity to be chartered if market tightens.
Positive Market Dynamics and Multi-Region Strength
Management sees tightening supply/demand into late 2026–2028 with potential day-rate increases of ~$3k–$4k/day/year; regional strength noted in North Sea anchor handlers (record spot highs), Mediterranean, APAC (Taiwan, Indonesia, Australia), and recovering activity in Africa and Brazil.
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
TDW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 04, 2026 | $87.08 | $85.01 | -2.38% |
Mar 02, 2026 | $79.87 | $87.67 | +9.77% |
Nov 10, 2025 | $54.68 | $58.92 | +7.75% |
Aug 04, 2025 | $48.91 | $63.19 | +29.20% |
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 Aug 10, 2026, After Close (Confirmed).
What is Tidewater Inc. (TDW) earnings time?
Tidewater Inc. (TDW) earnings time is at Aug 10, 2026, 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 2026 (Q2) is 0.6.