Tidewater Inc. Q3 2025 Earnings Recap

TDW Q3 2025 November 12, 2025

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Tidewater reported strong third-quarter results for 2025, with revenue of $341.1 million and gross margins surprisingly exceeding guidance, driven by higher day rates and improved fleet utilization.

Earnings Per Share Beat

$0.53 vs $0.46 est.

+15.2% surprise

Revenue Beat

341113000 vs 330789200 est.

+3.1% surprise

Market Reaction

1-Day +5.06%

5-Day +2.34%

30-Day +3.27%

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Key Takeaways

Revenue increased 15% year-over-year, primarily due to elevated average day rates and enhanced fleet utilization.
Generated $83 million in free cash flow during Q3, bringing year-to-date free cash flow to nearly $275 million.
Retained a $500 million share repurchase authorization, indicating confidence in capital allocation flexibility while pursuing M&A opportunities.
The company anticipates a gradual recovery in drilling activity leading to increased demand for offshore services, particularly in the EPCI and Offshore Construction segments.
Tidewater maintains a favorable position in the offshore market, benefiting from robust production support and a growing backlog of projects.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit TDW on AllInvestView.

Next Q1 2026