Financial Data and Key Metrics Changes - Revenue for 2024 increased by 33% year-over-year, reaching $1.35 billion compared to $1 billion in 2023 [52][56] - Average day rates improved by nearly $4,500 per day, with gross margin rising to 48.2% from 44.2% in 2023 [53][54] - Net income nearly doubled to $180.7 million from $97.2 million in 2023, and adjusted EBITDA grew by nearly 50% to $559.6 million [56][57] - Free cash flow tripled to $331 million in 2024, with $131 million generated in Q4 alone [8][66] Business Line Data and Key Metrics Changes - Active utilization decreased by approximately two percentage points to 79.2% due to higher dry dock and idle days [54] - In Q4, average day rates were flat compared to Q3, but active utilization increased from 76.2% to 77.7% [58][69] - Gross margin in Q4 reached $174 million, up from $160.8 million in Q3, marking the highest gross margin since 2009 [70] Market Data and Key Metrics Changes - Significant improvements were noted in West Africa and the Middle East, with revenues increasing by 13% and 10% respectively, while revenues declined in other regions [69] - The company anticipates fewer offshore rigs working in 2025 compared to 2024, impacting demand for offshore vessels [17][18] - Subsea demand remains strong, with expectations for increased activity in 2026 and 2027, particularly in the subsea sector [20][21] Company Strategy and Development Direction - The company is focused on value-accretive acquisitions and has a disciplined approach to capital allocation, emphasizing free cash flow generation [12][14] - A share repurchase program was initiated, with $91 million spent on repurchases in 2024, reflecting a commitment to returning capital to shareholders [10][27] - The company aims to maintain a long-term unsecured debt capital structure while evaluating refinancing opportunities as market conditions improve [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term fundamentals of the business despite a muted growth outlook for offshore drilling activity in 2025 [17][18] - The company remains optimistic about the demand for hydrocarbons and expects a tightening vessel market to support future rate increases [80][81] - Management highlighted the importance of executing daily operations effectively to capitalize on market opportunities [9][10] Other Important Information - The company plans to incur approximately $37 million in capital expenditures for 2025, focusing on vessel upgrades and IT infrastructure [65] - The firm backlog and options represent $973 million of revenue for the remainder of 2025, with 68% of available days captured in firm backlog [36] Q&A Session Summary Question: Long-term market outlook and rate increases - Management indicated that the long-term demand for hydrocarbons remains strong, and the limited number of vessels will decrease over the next few years, supporting confidence in the business [80][81] Question: Confidence in 2025 guidance - Management expressed confidence in the 2025 guidance, noting that 81% of revenue is covered by backlog, with ongoing discussions for additional contracts [86] Question: Utilization and backlog coverage - Management clarified that 81% of revenue is covered by backlog, with more coverage expected in the near term compared to later in the year, and highlighted regional differences in coverage [95] Question: Increase in receivables - The increase in receivables was primarily driven by delays in payments from PEMEX, with expectations for resolution soon [98] Question: Dry dock schedule and impact on utilization - Management acknowledged some carryovers from 2024 to 2025 in dry dock days, impacting utilization, but noted a decrease in expected dry dock days for 2025 [106] Question: Average duration of new contracts - The average duration of new term contracts in Q4 was about twelve months, with a mix of short and longer-term contracts being pursued [109][111] Question: Confidence in 2026 and 2027 demand - Management is starting to see discussions for contracts extending into 2026 and 2027, indicating confidence in future demand growth [120][121]

Tidewater (TDW) came out with quarterly earnings of $0.70 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.94 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this offshore energy services provider would post earnings of $0.79 per share when it actually produced earnings of $0.87, delivering a surprise of 10.13%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Tidewater, ...

Exhibit 99.1 Tidewater Inc. 842 West Sam Houston Parkway North, Suite 400 Houston, TX 77024, USA +1.713.470.5300 Tidewater Reports Results for the Three and Twelve Months Ended December 31, 2024 Full-year 2024 Highlights Fourth Quarter 2024 Highlights Share Repurchase Authorization and 2025 Guidance HOUSTON, February 27, 2025 - Tidewater Inc. (NYSE:TDW) announced today revenue for the three and twelve months ended December 31, 2024 of $345.1 million and $1,345.8 million, respectively, compared with $302.7 m ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 1-6311 (Exact name of registrant as specified in its charter) Delaware 72-0487776 (State of incorporation) (I.R.S. Employer Ide ...

I have been working in the logistics sector for almost two decades. I have been into stock investing and macroeconomic analysis for almost a decade. Currently, I focus on ASEAN and NYSE/NASDAQ Stocks, particularly in banks, telco, logistics, and hotels. Since 2014, I have been trading on the PH stock market. I focus on banking, telco, and retail sectors. A colleague encouraged me to engage in the stock market as part of my portfolio diversification instead of putting all my savings in banks and properties. ...

Revenue and Financial Performance - Revenue for Q3 2024 was $340.4 million, a $1.1 million increase from the prior quarter[1] - Total revenues for Q3 2024 increased to $340.36 million, up from $299.26 million in Q3 2023, representing a 13.7% growth[17] - Vessel revenues for the nine months ended September 30, 2024, reached $994.17 million, up 42.3% from $698.48 million in the same period last year[17] - Total vessel revenues for the three months ended September 30, 2024, were $338.485 million, a 14% increase from $296.975 million in the same period in 2023[24] - Total revenues for Q3 2024 were $340.356 million, a slight increase from $339.230 million in Q2 2024[27] - Vessel revenues for Q3 2024 were $338.485 million, up from $337.003 million in Q2 2024[27] - Worldwide fleet total revenue for Q3 2024 was $338.485 million, showing a slight increase from $337.003 million in Q2 2024 and a significant rise from $296.975 million in Q3 2023[31] - Worldwide vessel revenues increased to $338.5 million in September 2024, up from $337.0 million in June 2024 and $318.7 million in March 2024[47] Net Income and Profitability - Net income for Q3 2024 was $46.4 million, compared to $26.2 million in Q3 2023[1] - Net income attributable to Tidewater Inc. for Q3 2024 rose to $46.37 million, compared to $26.20 million in Q3 2023, a 77.0% increase[17] - Net income attributable to Tidewater Inc. for Q3 2024 was $46.371 million, compared to $50.354 million in Q2 2024[27] - Net income for Q3 2024 was $45.99 million, a decrease from $49.92 million in Q2 2024[29] - Net income for September 2024 was $46.0 million, slightly down from $49.9 million in June 2024 but up from $37.3 million in December 2023[49] Cash Flow and Liquidity - Cash flow from operations for the first nine months of 2024 was $182.5 million, the best performance in 8 years[3] - Cash and cash equivalents as of September 30, 2024, stood at $280.84 million, slightly up from $274.44 million at the end of 2023[18] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $182.55 million, a significant increase from $57.47 million in the same period last year[21] - Net cash provided by operating activities in Q3 2024 was $49.14 million, down from $78.65 million in Q2 2024[29] - Free cash flow for Q3 2024 was $66,990 thousand, compared to $87,569 thousand in Q2 2024 and $69,373 thousand in Q1 2024[56] - Cash interest expense for Q3 2024 was $23,535 thousand, up from $14,925 thousand in Q2 2024 and $15,621 thousand in Q1 2024[56] Share Repurchases and Capital Allocation - The company repurchased 189,738 shares for $15.0 million at an average price of $79.06 per share[1] - The company anticipates share repurchase capacity to increase by close to $100 million in Q1 2025[3] - The company repurchased and retired $14.172 million worth of common stock during the three months ended September 30, 2024[22] Guidance and Outlook - Updated 2024 revenue guidance to $1.33 to $1.35 billion and gross margin guidance of 48%[1] - The company expects quarterly free cash flow generation to increase in the next two quarters[3] - The outlook on the timing of growth in offshore vessel activity has become uncertain due to concerns around slower acceleration in oil demand[6] Operating Income and Expenses - Operating income for the nine months ended September 30, 2024, was $229.97 million, a 93.0% increase from $119.12 million in the same period last year[17] - Operating income for the three months ended September 30, 2024, was $69.946 million, a 26% increase from $55.674 million in the same period in 2023[25] - Operating income for Q3 2024 was $69.946 million, a decrease from $78.127 million in Q2 2024[27] - Total operating costs and expenses for Q3 2024 were $270.410 million, up from $261.103 million in Q2 2024[27] - Total vessel operating costs worldwide increased to $178.7 million in September 2024, up from $176.5 million in June 2024 and $158.6 million in December 2023[47] Regional Performance - West Africa region contributed the highest vessel revenues at $95.324 million (28% of total) for the three months ended September 30, 2024, up from $73.650 million (25%) in the same period in 2023[24] - Asia Pacific region's vessel revenues increased by 44% to $56.283 million for the three months ended September 30, 2024, compared to $38.994 million in the same period in 2023[24] - Americas fleet revenue decreased to $64.606 million in Q3 2024 from $73.142 million in Q2 2024, with PSV > 900 vessels contributing $27.192 million[31] - Asia Pacific fleet revenue increased to $56.283 million in Q3 2024 from $55.221 million in Q2 2024, driven by PSV > 900 vessels generating $19.535 million[31] - Middle East fleet revenue remained stable at $36.947 million in Q3 2024 compared to $36.536 million in Q2 2024, with PSV < 900 vessels contributing $19.909 million[31] - Europe/Mediterranean fleet revenue rose to $85.325 million in Q3 2024 from $83.266 million in Q2 2024, with PSV > 900 vessels generating $66.808 million[31] - West Africa fleet revenue increased to $95.324 million in Q3 2024 from $88.838 million in Q2 2024, with PSV < 900 vessels contributing $41.367 million[31] Fleet Utilization and Day Rates - Average day rate increased to $22,275 per day, up $1,145 from the prior quarter[1] - The average day rate in large PSV and anchor handler fleets showed sequential quarterly improvement[2] - Vessel operating margin for the three months ended September 30, 2024, was 47%, up from 45% in the same period in 2023[24] - Vessel operating margin for Q3 2024 was $159.831 million, slightly down from $160.490 million in Q2 2024[27] - Worldwide fleet total average vessel day rates increased to $22,275 in September 2024 from $17,865 in September 2023, a growth of 24.7%[40] - PSV > 900 worldwide average vessel day rates increased to $25,883 in September 2024 from $22,804 in September 2023, up by 13.5%[40] - AHTS > 16K worldwide average vessel day rates rose to $41,721 in September 2024 from $26,293 in September 2023, marking a 58.7% increase[40] - AHTS 8 - 16K worldwide average vessel day rates grew to $18,087 in September 2024 from $15,533 in September 2023, an increase of 16.4%[40] - AHTS 4 - 8K worldwide average vessel day rates increased to $11,990 in September 2024 from $9,368 in September 2023, up by 28.0%[40] Debt and Liabilities - Long-term debt decreased to $597.35 million as of September 30, 2024, from $631.36 million at the end of 2023[18] - Long-term debt decreased to $597.35 million in September 2024 from $607.99 million in June 2024[28] - Principal payments on long-term debt in Q3 2024 were $62.50 million, significantly higher than $14.01 million in Q2 2024[29] Stockholders' Equity and Assets - Total stockholders' equity increased to $1.12 billion in September 2024 from $1.08 billion in June 2024[28] - Accumulated deficit improved to ($541.19 million) in September 2024 from ($573.39 million) in June 2024[28] - Total assets decreased to $2.05 billion in September 2024 from $2.09 billion in June 2024[28] - Total equity increased to $1.11 billion in September 2024 from $1.08 billion in June 2024[28] Depreciation and Amortization - Depreciation and amortization expenses for the nine months ended September 30, 2024, totaled $178.15 million, compared to $121.16 million in the same period last year[17] - Depreciation expenses for Q3 2024 were $39.24 million, slightly lower than $39.38 million in Q2 2024[29] - Amortization of deferred drydocking and survey costs increased to $23.20 million in Q3 2024 from $20.07 million in Q2 2024[29] Foreign Exchange and Other Items - Foreign exchange gain for Q3 2024 was $5.522 million, compared to a loss of $2.376 million in Q2 2024[27] - Foreign exchange gains (losses) for Q3 2024 were $5,522, compared to $(2,376) in Q2 2024, $(4,085) in Q1 2024, $2,250 in Q4 2023, and $(2,149) in Q3 2023[50] Miscellaneous - Corporate expenses for the three months ended September 30, 2024, were $14.655 million, a 47% increase from $9.961 million in the same period in 2023[25] - General and administrative expenses for the three months ended September 30, 2024, included $3.7 million in stock-based compensation, up from $2.4 million in the same period in 2023[25] - Stock-based compensation expense in Q3 2024 was $3.57 million, slightly higher than $3.46 million in Q2 2024[29] - EBITDA for Q3 2024 includes non-cash stock-based compensation expense of $3,569, compared to $3,460 in Q2 2024, $2,766 in Q1 2024, $3,508 in Q4 2023, and $2,496 in Q3 2023[50]

Dublin, Sept. 20, 2024 (GLOBE NEWSWIRE) -- The "United States Offshore Support Vessels Market 2019- 2029" report has been added to ResearchAndMarkets.com's offering. The United States Offshore Support Vessels Market was valued at USD 4.76 Billion in 2023 and is predicted to experience robust growth in the forecast period with a CAGR of 2.65% through 2029. This market has experienced significant growth due to the increasing offshore drilling activities in the Gulf of Mexico and other strategic offshore regio ...

Igors Aleksejevs Note: Tidewater Inc. (NYSE:TDW) has been covered by me previously, so investors should view this article as an update to my earlier publications on the company. Last week, leading offshore service vessel provider Tidewater Inc., or "Tidewater," reported strong Q2/2024 results with both top- and bottom-line results exceeding consensus expectations: Tidewater - Key Financial Metrics | --- | --- | --- | --- | --- | --- | --- | |---------------------------|-------------------------------------- ...

arild lilleboe Recap Please check our bull thesis on Tidewater Inc. (NYSE:TDW). We believe supportive oil prices will encourage more exploration and production of oil. With peaking Permian Basin output and reduced offshore break-even levels, drillers increasingly seek offshore projects to accommodate the growing demand, despite risks from decarbonization measures. Additionally, the supply-constrained market is likely to stay given fewer shipyards available and high newbuild and secondhand prices. We believe ...

Investors in Tidewater Inc. (TDW) need to pay close attention to the stock based on moves in the options market lately. That is because the Dec 20, 2024 $30 Call had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mea ...