Tidewater: Weak Offshore Drilling Activity Impacts Near-Term Outlook - Hold

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. Two weeks ago, leading offshore service vessel provider Tidewater Inc., or "Tidewater," reported weaker than expected Q3/2024 results with both top- and bottom-line numbers coming in below consensus expectations: While revenues of $340.4 million and Adjusted EBITDA of $142.6 million represented new multi-year highs, active fleet utilization of 75.4 ...