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Tidewater(TDW) - 2019 Q4 - Earnings Call Transcript
2020-03-05 01:40
Tidewater, Inc. (NYSE:TDW) Q4 2019 Results Conference Call March 3, 2020 9:00 AM ET Company Participants Jason Stanley - Vice President, Investor Relations and Marketing Quintin Kneen - President and CEO Sam Rubio - Chief Accounting Officer Daniel Hudson - General Counsel and Corporate Secretary Conference Call Participants Turner Holm - Clarksons Platou Patrick Fitzgerald - Baird Ceki Medina - Southpaw Operator Welcome to the Earnings Conference Call Fourth Quarter 2019. My name is John and I'll be your op ...
Tidewater(TDW) - 2019 Q4 - Annual Report
2020-03-02 21:59
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, 2019 ☐ 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 6002 Rogerdale Road, Suite 600 Houston, Texas 77072 ...
Tidewater(TDW) - 2019 Q3 - Earnings Call Transcript
2019-11-12 20:06
Tidewater, Inc. (NYSE:TDW) Q3 2019 Results Conference Call November 12, 2019 9:00 AM ET Company Participants Jason Stanley - Vice President of Investor Relations Quintin Kneen - President and Chief Executive Officer Sam Rubio - Chief Accounting Officer Daniel Hudson - General Counsel and Corporate Sector Secretary Conference Call Participants Patrick Fitzgerald - Robert W. Baird Operator Good morning and welcome to the earnings conference call, third quarter 2019. My name is Sheryl and I will be your operat ...
Tidewater(TDW) - 2019 Q3 - Quarterly Report
2019-11-12 13:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Tidewater Inc. (Exact name of registrant as specified in its charter) Delaware 72-0487776 (State of incorporation) (I.R.S. Employer Identification No.) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 6002 Rogerdale Road, Suite 600 Houston, Texas 77072 (Address of principal executive offices) (Zip code) For the quarterly period ended September 30, 2019 Registrant's telephone number, inc ...
Tidewater(TDW) - 2019 Q2 - Earnings Call Transcript
2019-08-13 20:01
Tidewater Inc. (NYSE:TDW) Q2 2019 Earnings Conference Call August 13, 2019 11:00 AM ET Company Participants Matt Mancheski - Vice President, Investor Relations and Corporate Development John Rynd - President and Chief Executive Officer Quintin Kneen - Chief Financial Officer Conference Call Participants Turner Holm - Clarksons Platou Securities AS Patrick Fitzgerald - Robert W. Baird & Co. Operator Welcome to the Earnings Conference Call Second Quarter 2019. My name is Adrianne and I’ll be your operator for ...
Tidewater(TDW) - 2019 Q2 - Quarterly Report
2019-08-09 20:24
☐ 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. 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, 2019 (Exact name of registrant as specified in its charter) Delaware 72-0487776 (State of incorporation) (I.R.S. Employer Ident ...
Tidewater(TDW) - 2019 Q1 - Earnings Call Transcript
2019-05-07 20:21
Financial Data and Key Metrics Changes - For Q1 2019, consolidated revenue was $122.1 million, an increase of approximately $12 million from the prior quarter [37] - Average day rates increased by 3% to $98.06 per day, marking the first quarterly increase in five quarters [38] - Active vessel utilization decreased by approximately 243 active vessel days, or about two percentage points, due to vessel mobilizations and drydock days [39] Business Segment Data and Key Metrics Changes - North Sea and Mediterranean segment revenue increased by almost 200% year-over-year and approximately 40% quarter-over-quarter [11] - Americas segment vessel revenues increased by 35% year-over-year and 11% quarter-over-quarter, driven by the addition of 12 vessels from the merger [14] - Middle East Asia-Pacific segment experienced an 11% year-over-year revenue growth, with vessel operating margin up by 44% [15] Market Data and Key Metrics Changes - Active fleet utilization remained high at 80%, slightly down from 82% in Q4 2018 [9] - Spot rates in the North Sea rose to the highest level since 2014, driven by increased drilling activity [17] - Market sources estimate that at least 12 vessels are expected to depart the North Sea for work in West Africa and Russia [18] Company Strategy and Development Direction - The company aims to maximize cash flow and maintain capital discipline while continuing to divest non-core vessels [47][49] - A focus on upgrading the fleet with battery technology and fuel management systems to improve efficiency and reduce emissions [20][31] - The company is positioned as one of the top two OSV operators in the North Sea, anticipating benefits from the expected market recovery [19] Management's Comments on Operating Environment and Future Outlook - Management expects continued stability or upward trends in all reporting segments, particularly in the North Sea [16] - The company anticipates cash flow positivity for the year despite potential cash flow negativity in Q2 due to working capital obligations [50] - There is optimism regarding increased tender activity and demand for OSV services in 2020 [58] Other Important Information - The cash balance at the end of the quarter was $398 million, with the company being free cash flow positive at $8.5 million [46] - The company plans to consolidate its ERP systems by October 1, which is expected to enhance efficiency [43][44] - The company has sold 28 uncompetitive stacked vessels year-to-date, with a goal of selling 40 by year-end [29] Q&A Session Summary Question: Recent market developments in the North Sea and their impact on Tidewater numbers - Management indicated that Q2 will reflect a full quarter of activity levels in the North Sea, with improved spot and term rates [55] Question: Tender activity and demand forecast for 2020 - Increased tender activity and customer discussions about future vessel utilization indicate a tightening OSV market [58] Question: Balancing long-term visibility versus current rates - The fleet contracting strategy is likened to a bond portfolio, balancing short, mid, and long-term contracts based on market conditions [60] Question: Expected ramp in activity in the Gulf of Mexico - Management agrees with the view of rising demand in the Gulf of Mexico and the Caribbean, which could tighten supply [63] Question: Update on due from affiliate and due to affiliate balances - Ongoing constructive dialogues with partners are expected to improve the collectability of balances [65]
Tidewater(TDW) - 2019 Q1 - Quarterly Report
2019-05-06 20:59
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, 2019 ☐ 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 of incorporation) (I.R.S. Employer Iden ...
Tidewater (TDW) Presents At Scotia Howard Weil 47thAnnual Energy Conference - Slideshow
2019-03-27 18:36
TIDEWATER® Company Overview Scotia Howard Weil 47th Annual Energy Conference DODTH PURPUSE John Rynd Jason Stanley President & Chief Executive Officer Director, Investor Relations March 26, 2019 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 Current Report on Form 8-K provide other than historical information and are forward looking. The actual ach ...
Tidewater(TDW) - 2018 Q4 - Earnings Call Transcript
2019-03-01 19:55
Tidewater, Inc. (NYSE:TDW) Q4 2018 Results Earnings Conference Call March 1, 2019 11:00 AM ET Company Participants Jason Stanley - Director of Investor Relations John Rynd - President, Chief Executive Officer, Director Quinn Fanning - Executive Vice President Quintin Kneen - Executive Vice President, Chief Financial Officer Conference Call Participants Turner Holm - Clarksons Platou Operator Welcome to earnings conference call fourth quarter 2018. My name is John and I will be your operator for today's call ...