Tidewater reported FY 2025 results with total revenue of USD 1.4 billion (+1%) and net income of USD 333.5 million (+86%). Income before income taxes was USD 220.2 million (-4%), while the company recorded an income tax benefit of USD 113.2 million, primarily tied to a one-time, non-cash deferred tax benefit from a strategic internal vessel ownership restructuring completed in Q4 2025 (Vessel Realignment). Average vessel day rates were USD 22,573 (+6.1%), with utilization at 76.1% and active utilization at 78.7%. For liquidity, Tidewater ended FY 2025 with USD 581.6 million in cash and cash equivalents and a USD 250.0 million revolving credit facility with no amounts drawn. Net cash provided by operating activities was USD 379.1 million, and the company repurchased and retired 2,290,204 shares for USD 90.0 million. Corporate updates included the issuance of USD 650.0 million 9.125% senior notes due July 2030 and a definitive agreement signed on February 22, 2026 to acquire the Wilson Companies (22 platform supply vessels in Brazil) for USD 500.0 million in cash on a debt-free, cash-free basis, subject to adjustments including assumption of approximately USD 261.0 million of debt (as of September 30, 2025), with closing expected late in Q2 2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Tidewater Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001437749-26-006391), on March 02, 2026, and is solely responsible for the information contained therein.
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