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Tidewater Inc  (TDW)
Other Ticker:  
 
    Sector  Services    Industry Cruise and Shipping
   Industry Cruise and Shipping
   Sector  Services
 
Price: $88.7800 $-1.28 -1.421%
Day's High: $91.75 Week Perf: -8.37 %
Day's Low: $ 88.69 30 Day Perf: 2.01 %
Volume (M): 575 52 Wk High: $ 101.10
Volume (M$): $ 51,084 52 Wk Avg: $64.53
Open: $90.61 52 Wk Low: $39.41



 Market Capitalization (Millions $) 4,760
 Shares Outstanding (Millions) 54
 Employees -
 Revenues (TTM) (Millions $) 486
 Net Income (TTM) (Millions $) 68
 Cash Flow (TTM) (Millions $) 128
 Capital Exp. (TTM) (Millions $) 40

Tidewater Inc

The company’s vessels and associated vessel services provide support of all phases of offshore exploration, field development and production. These services include towing of, and anchor handling for, mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover and production activities; offshore construction, remotely operated vehicle (ROV) operations, and seismic and subsea support; and a variety of specialized services such as pipe and cable laying. The company’s offshore support vessel fleet includes vessels that are operated under joint ventures, as well as vessels that have been stacked or withdrawn from service.

The company has one of the broadest geographic operating footprints in the offshore energy industry with operations in most of the world’s significant offshore crude oil and natural gas exploration and production offshore regions. Our global operating footprint allows us to react quickly to changing local market conditions and to respond to the changing requirements of the many customers with which we believe we have strong relationships. The company is also one of the most experienced international operators in the offshore energy industry with over five decades of international experience.

Our revenues, net earnings and cash flows from operations are largely dependent upon the activity level of our offshore support vessel fleet. As is the case with other energy service companies, our business activity is largely dependent on the level of crude oil and natural gas and exploration, field development and production activity by our customers. Our customers’ business activity, in turn, is dependent on crude oil and natural gas prices, which fluctuate depending on expected future levels of supply and demand for crude oil and natural gas, and on estimates of the cost to find, develop and produce reserves.

Offices and Facilities
The company’s worldwide headquarters and principal executive offices are located at 601 Poydras Street, Suite 1500, New Orleans, Louisiana 70130, and its telephone number is (504) 568-1010. The company’s U.S. marine operations are based in Amelia, Louisiana; Oxnard, California; and Houston, Texas. We conduct our international operations through facilities and offices located in over 30 countries. Our principal international offices and/or warehouse facilities, most of which are leased, are located in Rio de Janeiro and Macae, Brazil; Ciudad Del Carmen, Mexico; Port of Spain, Trinidad; Aberdeen, Scotland; Cairo, Egypt; Luanda and Cabinda, Angola; Lagos and Onne Port, Nigeria; Douala, Cameroon; Singapore; Perth, Australia; Shenzhen, China; Al Khobar, Kingdom of Saudi Arabia; Dubai, United Arab Emirates, and Oslo and Tromso, Norway. The company’s operations generally do not require highly specialized facilities, and suitable facilities are generally available on a lease basis as required.

The company’s fleet is deployed in the major global offshore oil and gas areas of the world. The principal areas of the company’s operations include the U.S. GOM, the Arabian Gulf, the Mediterranean Sea and areas offshore Australia, Brazil, India, Malaysia, Mexico, Norway, the United Kingdom, Thailand, Trinidad, and West and East Africa.

The company’s vessels are dispersed throughout the major offshore crude oil and natural gas exploration, field development and production areas of the world. Although the company considers, among other things, mobilization costs and the availability of suitable vessels in its fleet deployment decisions, and cabotage rules in certain countries occasionally restrict the ability of the company to move vessels between markets, the company’s diverse, mobile asset base and the wide geographic distribution of its vessel assets generally enable the company to respond relatively quickly to changing market conditions and customer requirements.


Revenues in each of our segments are derived primarily from vessel time charter or similar contracts that are generally three months to four years in duration as determined by customer requirements, and, to a lesser extent, from vessel time charter contracts on a “spot” basis, which is a short-term (one day to three months) agreement to provide offshore marine services to a customer for a specific short-term job. The base rate of hire for a term contract is generally a fixed rate, though some charter arrangements allow the company to recover specific additional costs.

In each of our business segments, and depending on vessel capabilities and availability, our vessels operate in the shallow, intermediate and deepwater offshore markets of the respective regions. In recent years, the deepwater offshore market has been a growing sector in the offshore crude oil and natural gas markets due to technological developments that have made deepwater exploration and development feasible. It is the one sector that did not experience significant negative effects from the 2008-2009 global economic recession, largely because deepwater exploration and development projects involve significant capital investment and multi-year development plans. Such projects are generally underwritten by the participating exploration, development and production companies using relatively conservative assumptions in regards to crude oil and natural gas prices and, therefore, have not been as susceptible to short-term fluctuations in the price of crude oil and natural gas.

Deepwater Vessels
Deepwater vessels, in the aggregate, are currently the company’s largest contributor to consolidated vessel revenue and vessel operating margin. Included in this vessel class are large (typically greater than 230-feet and/or with greater than 2,800 tons in dead weight cargo carrying capacity) PSVs and large, higher-horsepower (generally greater than 10,000 horsepower) AHTS vessels. These vessels are generally chartered to customers for use in transporting supplies and equipment from shore bases to deepwater and intermediate water depth offshore drilling rigs and production platforms and for otherwise supporting intermediate and deepwater drilling, production, construction and maintenance operations. Deepwater PSVs generally have large cargo capacities, both below deck (liquid mud tanks and dry bulk tanks) and above deck. Deepwater AHTS vessels are equipped to tow drilling rigs and other marine equipment, as well as to set anchors for the positioning and mooring of drilling rigs that generally are without dynamic positioning capabilities. Many of our deepwater PSVs and AHTS vessels are outfitted with dynamic positioning capabilities, which allow the vessel to maintain an absolute or relative position when mooring to an offshore installation, rig or another vessel is deemed unsafe, impractical or undesirable. Many of our deepwater vessels also have oil recovery, firefighting, standby rescue and/or other specialized equipment. Our customers demand a high level of safety and technological advancements to meet the more stringent regulatory standards, especially in the wake of the 2010 Deepwater Horizon incident.
Our deepwater class of vessel also includes specialty vessels that can support offshore well stimulation, construction work, subsea services and/or serve as remote accommodation facilities. These vessels are generally available for routine supply and towing services, but these vessels are also outfitted, and primarily intended, for specialty services. For example, these vessels can be equipped with a variety of lifting and deployment systems, including large capacity cranes, winches or reel systems. Included in the specialty vessel category is the company’s one multi-purpose platform supply vessel (MPSV). Our MPSV is approximately 311 feet in length, has a 100-ton active heave compensating crane, a moonpool and a helideck and is designed for subsea service and light construction support activities. This vessel is significantly larger in size, more versatile, and more specialized than the PSVs discussed above. The MPSV typically commands a higher day rate because the vessel has more capabilities, and because the vessel has a higher construction cost and higher operating costs.

Towing-Supply Vessels
This is currently the company’s largest fleet class by number of vessels. Included in this class are non-deepwater towing-supply vessels with horsepower below 10,000 BHP, and non-deepwater supply vessels that are generally less than 230 feet. The vessels in this class perform the same respective functions and services as deepwater AHTS vessels and deepwater PSVs except non-deepwater towing-supply vessels and non-deepwater supply vessels are generally chartered to customers for use in intermediate and shallow waters.

Other Vessels
The company’s “Other” vessels include crew boats, utility vessels and offshore tugs. Crew boats and utility vessels are chartered to customers for use in transporting personnel and supplies from shore bases to offshore drilling rigs, platforms and other installations. These vessels are also often equipped for oil field security missions in markets where piracy, kidnapping or other potential violence presents a concern. Offshore tugs are used to tow floating drilling rigs and barges; to assist in the docking of tankers; and to assist pipe laying, cable laying and construction barges.

Subsea Services
Historically, the company’s subsea services were composed primarily of seismic and subsea vessel support. During fiscal 2014 the company expanded its subsea services capabilities by hiring a dedicated group of employees with substantial ROV and subsea expertise and by purchasing six work-class ROV.

Shipyard Operations
Quality Shipyards, L.L.C., a wholly-owned subsidiary of the company, operated two shipyards in Houma, Louisiana, that constructed, upgraded and repaired vessels. The shipyards performed repair work and new construction work for third-party customers, as well as the construction, repair and modification of the company’s own vessels.



   Company Address: 842 West Sam Houston Parkway North, Suite 400 Houston 77024 TX
   Company Phone Number: 470-5300   Stock Exchange / Ticker: NYSE TDW
   


Customers Net Income fell by TDW's Customers Net Profit Margin fell to

-42.12 %

11.76 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
KNOP   -3.28%    
PFIE      0% 
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Business Update

Tidewater's 2023 Sustainability Report Highlights Strong Financial Performance Amid Challenging Market Conditions

Published Tue, Mar 5 2024 10:15 PM UTC

Tidewater Releases 2023 Sustainability Report and Shows Strong Financial Performance in Q3 Amid Challenging Market ConditionsIn an exciting update, Tidewater Inc. (NYSE: TDW), a leading offshore support vessel provider, recently announced the publication of its fourth annual sustainability report. Known as a comprehensive and stand-alone report, it highlights the environment...

Tidewater Inc

Tidewater Inc's Meteoric Rise: EPS Soars by 390% in Recent Fiscal Period

During the past week, Tidewater Inc shares experienced a slight decline of -0.4%, which brings the year-to-date performance to an impressive 98.14%. Additionally, Tidewater Inc shares are currently 7.4% below their 52-week high.
The Cruise and Shipping company recently announced notable earnings in its most recent fiscal period. Their revenue soared by 56.059% to $299.26 million, a significant increase compared to the comparable quarter from the previous year. Furthermore, Tidewater Inc's net profit per share experienced an astonishing 390% growth, reaching $0.49 per share.
In terms of business growth, Tidewater Inc outperformed most of its contemporaries in the Cruise and Shipping industry during the third quarter of 2023. While other corporations in this sector experienced a business improvement of 40.76% from the third quarter of 2022, Tidewater Inc's business growth surpassed this at an impressive rate.
The company's earnings in the most recent fiscal period amounted to $25.549 million, marking a remarkable 420.35% increase compared to the previous fiscal period. This indicates the company's strong financial performance and its ability to generate higher profits.
Tidewater Inc has also made significant progress in improving its profit margins. Its net margin rose to 8.54% in the most recent fiscal period, while the operating margin increased to 18.6%. However, the improvement in operating earnings was relatively lower at 192.1%, reaching $55.674 million.
Another positive sign for Tidewater Inc is the build-up in accounts receivable, which suggests rising demand for their services. The company's accounts receivables were valued at $250.7 million, indicating an increase from the preceding quarter.
Looking ahead, Tidewater Inc is expected to report its next financial earnings on February 26, 2024. The company remains optimistic about its performance and continues to focus on generating higher revenue and profits.
In a recent announcement, Tidewater Inc stated that its revenue for the three and nine months ended September 30, 2023, reached $299.3 million and $707.3 million, respectively. This is a substantial increase compared to the same periods in the previous year, which saw revenue of $191.8 million and $460.9 million, respectively. Additionally, Tidewater Inc's net income for the three and nine months ended September 30, 2023, amounted to $26.2 million ($0.49 per common share) and $59.5 million ($1.13 per common share), respectively, a significant improvement from the previous yearOverall, Tidewater Inc's recent financial performance has been impressive, with substantial growth in revenue, net profit per share, and earnings. The company's efforts in improving profit margins and meeting rising demand indicate a positive outlook for its future performance. Investors will await the next financial earnings report to get a clearer picture of Tidewater Inc's progress and prospects.

Tidewater Inc

Q2 2023: Cruise and Shipping Companies report Steady Revenues, with Tidewater Inc. Achieving Earnings Turnaround

As a stock market journalist, I have been closely following the financial results of Tidewater Inc during the second quarter of the 2023 earnings season. From the numbers provided, it is evident that TDW has made significant progress in terms of its earnings compared to the same period last year.
In the second quarter of 2023, Tidewater Inc achieved balanced books with earnings of $0.00 per share, which is a positive development compared to a loss of $-0.61 per share in the previous year. This is also consistent with the earnings reported in the previous quarter.

Tidewater Inc

Tidewater Inc. Defies Odds with Break-Even Quarter Amidst Global Crisis

Tidewater Inc., a leading provider of offshore support vessels and marine logistics services, has reported its financial results for the first quarter of 2023. The company has announced that it reached break-even of $0.00 per share in the first quarter of 2023, compared to a loss of $0.29 per share in the same period a year ago and a profit of $0.20 per share in the previous reporting period.
Despite the break-even result, Tidewater Inc. has managed to maintain its revenue at the same level as last year's first quarter, at $0.00 million. This is a significant achievement, as the company faced a challenging environment due to the ongoing Covid-19 pandemic and its impact on the global economy. The sequential revenue figure stood at $186.75 million, an increase from the $105.73 million of the same period last year.






 

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