Tidewater Inc (TDW)

In March 2024, Tidewater's stock surged 14.1%, reaching a 52-week high despite missing Q4 GAAP earnings expectations, as the company confirmed its full-year guidance and announced plans to increase stock buybacks. In May 2025, Tidewater reported strong first-quarter results, surpassing EPS and revenue estimates, and projected 2025 revenue between $1.32 billion and $1.38 billion. In June 2025, Tidewater announced the offering and closing of $650 million of Senior Unsecured Notes due 2030 and entered into a $250 million revolving credit facility. The company reported its results for the six months ended June 30, 2025 in August 2025. In October 2025, Tidewater was noted for expanding its global offshore energy services. Over the 90 days preceding October 28, 2025, Tidewater's stock received two upgrades and two downgrades from analysts, with a consensus rating of "Hold" and an average price target of $69.00.

Tidewater's business is subject to seasonality, with demand typically lower in the first and fourth quarters of the year, but the company anticipated outgrowing this seasonality in 2024. The overall business activity is closely tied to the energy sector cycle. Demand is improving across all regions and various end markets beyond traditional drilling, and the industry is experiencing a shortage of vessels and a record-low newbuilding order book.

Tidewater, Inc. is a global leader in offshore marine support and transportation services for the energy industry, founded in 1956 and headquartered in Houston, Texas. The company's core business revolves around its extensive fleet of Offshore Support Vessels (OSVs), which are crucial for offshore oil and gas exploration, field development, production, and offshore wind activities. Major products and services include Offshore Support Vessels (OSVs) such as Platform Supply Vessels (PSVs), Anchor Handling Tug Supply (AHTS) Vessels, and Fast Crew Supply (FCS) Vessels. The company also provides marine logistics and transportation, and specialized marine support services including subsea support, offshore construction assistance, and geotechnical survey support.

Tidewater has a significant global presence, with over 90% of its fleet operating internationally across more than 60 countries. The company's revenue streams are diversified across key regions, including the Americas, Africa, Europe, and Asia Pacific.

Tidewater maintains a strong brand reputation as a global leader and the most experienced provider of OSVs in the industry, emphasizing its commitment to safety, reliability, efficiency, ethical conduct, and environmental stewardship. Strategic acquisitions, such as Solstad Offshore in March 2023 and Swire Pacific Offshore in April 2022, have further solidified its leadership. However, there was a mention of management errors in capital allocation during 2024, specifically concerning share repurchases made at an 80% premium to the current share price. Additionally, analysts generally rate Tidewater slightly less favorably than other "energy" companies.

Tidewater, Inc. has a significant level of institutional ownership, recorded at 104.99%. Major institutional holders include BlackRock, Inc., The Vanguard Group, Inc., T. Rowe Price Group, Inc., Neuberger Berman Investment Advisers LLC, Robotti & Company, Incorporated, State Street Global Advisors, Inc., Dimensional Fund Advisors LP, UBS Asset Management AG, Geode Capital Management, LLC, and FMR LLC. Individual (insider) ownership stands at 1.83%, with Quintin Kneen, the President, CEO, and Director, being a key individual.