Tidewater Posts Q3 Loss

(RTTNews) - Tidewater Inc. (TDW) Monday announced third-quarter net loss of $0.8 million or $0.02 per share, compared to net income of $46.4 million or $0.87 per share last year.

Third-quarter revenues were $341.1 million, up from $340.4 million last year.

CEO Quintin Kneen said, "The third quarter of 2025 came in above our expectations as vessel uptime across the fleet exceeded our initial estimates, delivering revenue of $341.1 million and gross margin of 48.0%. Average day rates for the quarter softened modestly, driven by the North Sea and West Africa, consistent with our expectations, however, we did see meaningful day rate increases in our other reporting segments."

The company updated its 2025 revenue guidance to $1.33 to $1.35 billion and initiated 2026 revenue guidance of $1.32 to $1.37 billion.