Tidewater(US:TDW)2025-08-05 13:00Company Overview - Tidewater operates the largest OSV fleet in the world, with 211 owned vessels[10] - The company has a significant number of hybrid vessels, totaling 18[10] - Tidewater estimates its 2025 EBITDA to be approximately $557 million[10] - The company's liquidity is over $600 million[10] - The average age of Tidewater's vessels is 12.8 years[10] Market Position and Strategy - Tidewater has been focusing on high-specification vessels, with a significant portion of its fleet consisting of PSVs >700m2 and AHTS >16k BHP[10, 14] - The company has grown its fleet through M&A, adding 83 premier vessels in the last 3 years[27] - Tidewater has a strong international footprint, operating in all major offshore regions[11] Financial Performance and Outlook - Tidewater anticipates revenue between $1.32 billion and $1.38 billion in 2025[13] - The company projects a gross margin between 48% and 50% for 2025[13] - Net Debt / 2025E EBITDA is 0.5x[10] Sustainability - Tidewater is committed to reducing its well-to-wake IMO Time CO2-e intensity from operations by 50-60% by 2030, using a 2008 base year[100]