The earnings call reflected strong financial performance in the second quarter with record revenue and gross margins, successful refinancing, and a new share repurchase program. However, there are challenges in the near-term market outlook with expected softness in demand, particularly in the North Sea and West Africa, and issues with customer payments. Overall, the highlights outweigh the lowlights, indicating a positive sentiment but tempered by some cautiousness about the near-term market conditions.

Company Guidance -

Q3 2025

During the Tidewater Second Quarter 2025 Earnings Call, several key metrics and guidance were discussed. The company reported a second-quarter revenue of $341.4 million, with an impressive gross margin of 50.1%, surpassing their initial expectation of 44%. The increase in revenue was attributed to a record average day rate of $23,166, exceeding expectations by over $1,300 per day. Tidewater generated $98 million of free cash flow during the quarter, marking the second-highest quarterly free cash flow since the offshore recovery began. The company successfully refinanced its debt, issuing a $650 million unsecured bond and establishing a $250 million revolving credit facility, which enhances their financial flexibility. This new structure supports a $500 million share repurchase program, representing over 20% of the company's market capitalization. The guidance for the full year 2025 remains at a revenue range of $1.32 billion to $1.38 billion, with an expected gross margin between 48% and 50%. While utilization is projected to improve slightly in the third quarter, a modest softening in day rates is anticipated, particularly in the North Sea and West Africa.

Record Quarterly Revenue

Second quarter revenue exceeded expectations, reaching $341.4 million, driven by a higher-than-expected average day rate and slightly better-than-anticipated utilization.

Gross Margin Performance

Gross margin exceeded expectations, coming in at over 50% for the third consecutive quarter, driven by higher day rates and improved uptime performance.

Successful Debt Refinancing

Closed on a $650 million U.S. unsecured bond and established a $250 million revolving credit facility, enhancing financial flexibility.

Strong Free Cash Flow

Generated $98 million of free cash flow in the second quarter, bringing the first half of 2025 total free cash flow to over $192 million.

New Share Repurchase Program

Announced a $500 million share repurchase program, equating to over 20% of the company's closing market capitalization.

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)	0.81 / -	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 0.81.

Become an Expert with TipRanks Premium

What am I Missing?

Make informed decisions based on Top Analysts' activity

Know what industry insiders are buying

Get actionable alerts from top Wall Street Analysts

Find out before anyone else which stock is going to shoot up

Get powerful stock screeners & detailed portfolio analysis

Subscribe Now See Plans & Pricing