Company Overview - Tidewater is a leading provider of marine support services to the global offshore energy industry, operating a diverse fleet that enables critical exploration, development, and production activities [6] - The company serves both traditional oil and gas markets as well as the growing offshore wind sector, leveraging its scale and technical expertise [6] - Tidewater's established customer relationships and comprehensive service offerings provide a competitive advantage in a cyclical and capital-intensive industry [6] Financial Performance - For the year 2025, Tidewater's revenue climbed to approximately $1.35 billion, driven by improved vessel utilization and day rates [10] - Net income for 2025 totaled $333.5 million, an increase from $179.3 million the previous year, positively impacted by a non-cash deferred tax benefit of $201.5 million [10] - As of the latest report, Tidewater's market capitalization is $4 billion, with a revenue of $1.36 billion and a net income of $151.68 million on a trailing twelve months (TTM) basis [4] Stock Performance - Tidewater shares have more than doubled over the past year, trading around $87, which represents a 106% increase, significantly outperforming the S&P 500's roughly 16% gain in the same period [7] - The majority of the stock's surge occurred this year, with shares up 67%, while the year through the end of the last quarter showed roughly flat performance [9] Recent Transactions - On February 17, 2026, Grizzlyrock Capital disclosed a sale of 94,075 shares of Tidewater, reducing its position in the company by this amount during the fourth quarter of 2025 [2] - The estimated transaction value was $4.97 million based on the quarter's average unadjusted closing price, and the quarter-end value of the remaining stake fell by $5.12 million [2][10] - Following this transaction, Tidewater represented 1.4% of Grizzlyrock Capital's reportable assets under management as of December 31, 2025 [7]

Company Overview - Tidewater Inc. is a leading provider of marine support services to the global offshore energy industry, operating a diversified fleet and delivering critical logistics and transportation solutions [6] - The company supports complex offshore projects, including oil, gas, and renewable energy developments, positioning itself as a key partner for energy operators [6] - As of February 11, 2026, Tidewater's market capitalization is $3.53 billion, with a revenue of $1.36 billion and a net income of $151.68 million [4] Recent Financial Performance - Tidewater's latest quarter revenue reached $341.1 million, essentially flat year over year, while adjusted EBITDA was $137.9 million [10] - For the first nine months, net income attributable to shareholders was $114.8 million, and management tightened full-year revenue guidance to a range of $1.33 billion to $1.35 billion [10] - The company introduced a revenue range of $1.32 billion to $1.37 billion for the next year, along with a remaining $500 million share repurchase authorization [10] Market Position and Stock Performance - As of February 11, shares of Tidewater were priced at $71.16, reflecting a 29.6% increase over the prior 12 months, outperforming the S&P 500's roughly 14% gain in the same period [3] - Tidewater's vessel utilization sits near 76% fleetwide, with average day rates at $22,798 [12] Recent Transactions - Sagil Capital LLP fully exited its position in Tidewater by selling 201,763 shares in the fourth quarter for an estimated $10.76 million [1][2] - The sale reflects both the share sale and underlying price changes, indicating that gains may already be priced in after a significant run [11]