The earnings call presented a mix of positive long-term market outlook and strong cash flow generation, but was offset by short-term challenges including a net loss due to debt charges and regional day rate pressures.

Company Guidance

During the Tidewater Third Quarter 2025 Earnings Call, several key metrics and guidance for the future were discussed. Revenue for the third quarter was reported at $341.1 million, exceeding expectations due to higher average day rates and better-than-anticipated utilization. The gross margin was 48%, 200 basis points higher than guidance. Free cash flow for the third quarter was $83 million, bringing the total for the first nine months of 2025 to nearly $275 million. Looking forward, Tidewater has guided for 2026 revenue to range between $1.32 billion and $1.37 billion, with a gross margin of 48% to 50%. The company expects to end 2026 with approximately $800 million in cash, assuming no major expenditures on M&A or share repurchases. The guidance reflects a belief in continued offshore market recovery, driven by factors such as robust production support and construction demand, alongside a potential uptick in drilling activity by the end of 2026.

Revenue and Gross Margin Exceed Expectations

Third quarter revenue came in at $341.1 million, exceeding expectations due to higher-than-expected average day rates and utilization. Gross margin was 48%, about 200 basis points better than guidance.

Strong Free Cash Flow Generation

Generated $83 million of free cash flow in the third quarter, bringing the first 9 months total to nearly $275 million. Projected to end 2026 with close to $800 million in cash.

Positive Long-term Offshore Vessel Market Outlook

Optimistic about long-term outlook with increasing vessel demand driven by FPSO deployment and EPCI projects, despite near-term drilling market softness.

Share Repurchase Authorization

Retained a $500 million share repurchase authorization, representing approximately 18% of shares outstanding.

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
Feb 26, 2026	2025 (Q4)	0.79 / -	0.7	―	―	―
Nov 10, 2025	2025 (Q3)	0.52 / -0.02	0.87	-102.30% (-0.89)
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)	―

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
Nov 10, 2025	$54.68	$58.92	+7.75%
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%

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 Feb 26, 2026, After Close (Confirmed).

What is Tidewater Inc (TDW) earnings time?

Tidewater Inc (TDW) earnings time is at Feb 26, 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 2025 (Q4) is 0.79.

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