Tidewater
Charters offshore support vessels for supply, rig handling, construction, and production work.
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Profile
Owns and charters platform supply, anchor-handling, and specialty vessels that move cargo and crews, position rigs, and support offshore energy projects worldwide. Revenue comes mainly from fixed day-rate contracts, while fleet utilization and pricing follow customers' offshore spending.
Operates platform supply vessels, anchor handling towing supply vessels, and a smaller group of specialty vessels, offshore tugs, and crew boats. Customers charter the fleet at daily rates to move cargo and personnel, tow and position rigs, and support construction, subsea, seismic, production, maintenance, and offshore wind work.
Serves offshore markets across the Americas, Asia Pacific, the Middle East, Europe and the Mediterranean, and West Africa, with most operations outside the United States. A broad fleet, experienced crews, regional onshore teams, and technical support let vessels shift among projects and markets as customer requirements change.
Results depend on vessel utilization and charter day rates, which follow offshore exploration, development, production, and abandonment spending. Operations also require regular drydocking and compliance with maritime safety, environmental, cabotage, and local-content rules.
Company facts
Categories
Key statistics
Year to date +77.4% · Average volume (30d) 623.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 13, 2026 | Barclays | Reiterate | Equal Weight | $86 | $91 | |
| May 7, 2026 | Barclays | Target | $86 | |||
| Mar 3, 2026 | Raymond James | Target | $102 | $117 | ||
| Jul 14, 2025 | BTIG | Downgrade | Buy | Neutral | ||
| Jan 15, 2025 | Evercore ISI Group | Downgrade | Outperform | In Line |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $0.46 | $0.43 | −5.7% | $330.0M | $342.3M | +3.7% | +17.78% |
| May 4, 2026Q1 FY26 | $0.75 | $0.12 | −84.0% | $322.8M | $326.2M | +1.0% | −2.38% |
| Mar 2, 2026Q4 FY25 | $0.75 | $0.33 | −55.8% | $331.2M | $336.8M | +1.7% | +9.77% |
| Nov 10, 2025Q3 FY25 | $0.46 | $0.53 | +15.2% | $330.8M | $341.1M | +3.1% | +7.75% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $333.4M | $341.4M | $341.1M | $336.8M | $326.2M | $342.3M | |
| Gross profit | $101.6M | $106.7M | $97.3M | $97.9M | $92.7M | $97.4M | |
| Operating income | $75.0M | $80.9M | $62.1M | $67.2M | $59.0M | $62.5M | |
| Net income | $42.7M | $72.9M | −$806.0K | $219.9M | $6.1M | $21.7M | |
| Diluted EPS | $0.83 | $1.46 | −$0.02 | $4.41 | $0.12 | $0.43 | |
| Gross margin | 30.5% | 31.2% | 28.5% | 29.1% | 28.4% | 28.4% | |
| Operating margin | 22.5% | 23.7% | 18.2% | 20.0% | 18.1% | 18.3% |
Fiscal years (4-quarter sums)FY21 $371.0M · FY22 $647.7M · FY23 $1.01B · FY24 $1.35B · FY25 $1.35B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $613.5M · Total debt $653.2M · Total assets $2.37B · Shareholders' equity $1.39B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 49.73M · Float 46.79M · 94.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 7.55M | 15.19% | 13F | Aug 7, 2026 |
| Price T Rowe Associates Inc /MD/ | 3.68M | 7.41% | 13F | Aug 14, 2026 |
| T. Rowe Price Associates, Inc. | 3.21M | 6.50% | 13G | May 15, 2026 |
| Robotti Robert | 2.91M | 5.84% | 13F | Aug 10, 2026 |
| Neuberger Berman Group LLC | 2.80M | 5.64% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 12, 2026 | Samuel R. Rubio | officer: EVP, CFO & CAO | −17,705 | $91.56 |
| Aug 10, 2026 | Daniel A. Hudson | officer: EVP, CLO & Corporate Secretary | −5,000 | $89.01 |
| Mar 5, 2026 | Daniel A. Hudson | officer: EVP & GENERAL COUNSEL | −5,195 | $80.56 |
| Mar 5, 2026 | Samuel R. Rubio | officer: EVP, CFO & CAO | −22,461 | $80.05 |
| Feb 23, 2026 | Daniel A. Hudson | officer: EVP & GENERAL COUNSEL | −15,000 | $77.50 |
Peers
- SEACOR Marine
Global OSV peer in PSV, FSV, liftboat, wind, and subsea support
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Tidewater | $92.62 | −0.04% | $4.61B | 18.7 | 17.5 | 3.4 | +0.3% |
| SEACOR Marine | $9.41 | −0.42% | $255.3M | — | — | 1.2 | −10.2% |
| Median | — | — | 1.2 | −10.2% |