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Tidewater(TDW) - 2022 Q1 - Quarterly Report
2022-05-09 20:37
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ 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 Tidewater Inc. (Exact name of registrant as specified in its charter) (Former name, former address and former fiscal year, if changed si ...
Tidewater(TDW) - 2021 Q4 - Annual Report
2022-03-09 22:24
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, 2021 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 ...
Tidewater(TDW) - 2021 Q3 - Earnings Call Transcript
2021-11-10 18:18
Tidewater Inc. (NYSE:TDW) Q3 2021 Earnings Conference Call November 10, 2021 9:00 AM ET Company Representatives Quintin Kneen - President, Chief Executive Officer Sam Rubio - Chief Financial Officer Daniel Hudson - General Counsel, Corporate Secretary Piers Middleton - Vice President of Sales and Marketing West Gotcher - Vice President of Finance, Investor Relations Conference Call Participants Operator Good morning, and welcome to the Tidewater Reports Results for the 3 Months Ending September 30, 2021. My ...
Tidewater(TDW) - 2021 Q3 - Quarterly Report
2021-11-09 21:29
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 ☐ 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 Tidewater Inc. (Exact name of registrant as specified in its charter) Delaware 72-0487776 (State or other jurisdiction of incorporat ...
Tidewater(TDW) - 2021 Q2 - Earnings Call Transcript
2021-08-10 17:03
Tidewater, Inc. (NYSE:TDW) Q2 2021 Earnings Conference Call August 10, 2021 11:00 AM ET Company Participants West Gotcher - VP, Finance & IR Quintin Kneen - President, CEO & Director Piers Middleton - VP, Sales & Marketing Samuel Rubio - EVP & CFO Conference Call Participants Andres Menocal - Evercore ISI Operator Good morning, and welcome to the Tidewater Reports Results for the 3 Months Ending 6/30/21. My name is Brandon, and I'll be your operator for today. [Operator Instructions]. Please note this confe ...
Tidewater(TDW) - 2021 Q2 - Quarterly Report
2021-08-09 20:25
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 ☐ 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 Tidewater Inc. (Exact name of registrant as specified in its charter) Delaware 72-0487776 (State or other jurisdiction of incorporation) ...
Tidewater (TDW) Presents At UBS Global Energy Virtual Conference - Slideshow
2021-05-27 19:05
tdw.com Company Update UBS Global Energy Virtual Conference May 25, 2021 Forward-looking Statements In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Tidewater Inc. (the "Company") notes that certain statements set forth in this presentation contain certain forward-looking statements which reflect our current view with respect to future events and future financial performance. Forward-looking statements are all statements other than statements of historic ...
Tidewater(TDW) - 2021 Q1 - Earnings Call Presentation
2021-05-14 22:48
| --- | --- | |-------|-------| | | | | | | | | | Forward-looking Statements In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Tidewater Inc. (the "Company") notes that certain statements set forth in this presentation contain certain forward-looking statements which reflect our current view with respect to future events and future financial performance. Forward-looking statements are all statements other than statements of historical fact. All such forwa ...
Tidewater(TDW) - 2021 Q1 - Earnings Call Transcript
2021-05-10 17:00
Financial Data and Key Metrics Changes - The company reported a net loss of $35.3 million or $0.87 per share for Q1 2021, with revenue of $83.5 million, which is $8.4 million or 9% less than Q4 2020 [39][40] - Cash flow from operations for the quarter was $5.7 million, and free cash flow was $19.2 million, bolstered by working capital inflows and proceeds from vessel sales [10][47] - Net debt decreased to $23.1 million, down $14.4 million from the end of Q4 2020 [13][51] Business Line Data and Key Metrics Changes - The Americas segment reported revenue of $26.2 million in Q1, down from $32.1 million in Q4, with an operating loss of $1.7 million [53] - The Middle East and Asia Pacific region reported revenue of $24.4 million, down from $25 million in Q4, with an operating loss of $1.9 million [54] - The Europe and Mediterranean region reported revenue of $14.7 million, down from $15.8 million in Q4, with an operating loss of $8 million [55] - The West Africa region reported revenue of $15.6 million, up from $14.9 million in Q4, with an operating loss of $6.8 million [56] Market Data and Key Metrics Changes - Active utilization across the fleet was 78%, slightly down from the previous quarter, while deepwater fleet utilization rose by 6% compared to Q1 2020 [29] - Average day rates decreased to $9,993 per day in Q1 2021 from $10,267 per day in Q1 2020 [30] - The Middle East and Asia Pacific region saw active utilization jump to 84% compared to 78% in Q1 2020, with average rates increasing to $8,506 per day [31] Company Strategy and Development Direction - The company aims to optimize costs related to drydocks and minimize expenses associated with vessels in layup, targeting approximately $20 million in drydock costs for 2021 [20] - The company has designed a scalable infrastructure to adjust to market changes and remain free cash flow positive [14] - The company anticipates a recovery in demand in the second half of 2021, with expectations to reactivate some vessels in West Africa [32][33] Management's Comments on Operating Environment and Future Outlook - Management indicated that the worst of the pandemic is behind, with expectations for increased activity throughout 2021, especially in the latter half [41] - The company continues to face challenges due to COVID-related delays, particularly in regions like India and the Philippines, which supply a significant portion of mariners [23][24] - Management expects to achieve full-year margin guidance of 30%, despite ongoing pandemic-driven inefficiencies impacting revenue [22] Other Important Information - The company sold six vessels in the quarter for $11 million and has 18 vessels left in the assets held for sale category [16][50] - The company published its first sustainability report, highlighting its commitment to ESG initiatives and safety culture [25][26] Q&A Session Summary Question: What is the outlook for the recovery in the market? - Management expects the recovery to continue, with a return to pre-pandemic supply and demand levels anticipated by Q1 2022 [21] Question: How is the company managing its debt? - The company has repaid nearly $100 million of debt in 2020 and continues to manage its debt maturities confidently, with more cash than the bond maturity balance [51][52]
Tidewater(TDW) - 2021 Q1 - Quarterly Report
2021-05-06 20:19
UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Exact name of registrant as specified in its charter) Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ☐ 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 Tidewater Inc. Delaware 72-0487776 (State of incorporation) (I.R.S. Employer Iden ...