Tidewater Inc. (TDW) shares plummeted 6.41% in post-market trading on Monday after the offshore vessel operator reported first-quarter financial results that fell sharply short of analyst expectations.
The company's Q1 earnings per share of $0.12 missed the FactSet consensus estimate of $0.67 by a wide margin. The dramatic earnings miss was primarily attributed to higher-than-anticipated operating costs in the Middle East due to conflict-related insurance and crew expenses, as well as a $3.4 million foreign exchange loss that significantly impacted net income and EBITDA.
Despite the disappointing quarterly results, Tidewater reiterated its full-year 2026 revenue guidance of $1.43 billion to $1.48 billion, which aligns with analyst expectations. The company also maintained its gross margin guidance for the year.
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