TIDEWATER INC
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
TDW$73.98+4.1%Stored close · as of Nov 10, 2026
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CONDENSED CONSOLIDATED INCOME STATEMENTS
(In Thousands, except per share data)
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2023 | |
| Revenues: | ||||
| Vessel revenues | $338,485 | $296,975 | $994,174 | $698,478 |
| Other operating revenues | 1,871 | 2,287 | 6,576 | 8,849 |
| Total revenue | 340,356 | 299,262 | 1,000,750 | 707,327 |
| Costs and expenses: | ||||
| Vessel operating costs | 178,654 | 164,239 | 522,723 | 397,962 |
| Costs of other operating revenues | 901 | 1,481 | 2,867 | 3,005 |
| General and administrative | 28,471 | 21,001 | 80,129 | 70,559 |
| Depreciation and amortization | 62,435 | 57,730 | 178,150 | 121,164 |
| Gain on asset dispositions, net | (51) | (863) | (13,090) | (4,483) |
| Total costs and expenses | 270,410 | 243,588 | 770,779 | 588,207 |
| Operating income | 69,946 | 55,674 | 229,971 | 119,120 |
| Other income (expense): | ||||
| Foreign exchange gain (loss) | 5,522 | (2,149) | (939) | (3,620) |
| Equity in net earnings of unconsolidated companies | — | 4 | — | 29 |
| Interest income and other, net | 1,028 | 568 | 3,686 | 3,488 |
| Interest and other debt costs, net | (17,622) | (19,288) | (56,225) | (28,209) |
| Total other expense | (11,072) | (20,865) | (53,478) | (28,312) |
| Income before income taxes | 58,874 | 34,809 | 176,493 | 90,808 |
| Income tax expense | 12,883 | 9,260 | 33,840 | 32,515 |
| Net income | 45,991 | 25,549 | 142,653 | 58,293 |
| Net loss attributable to noncontrolling interests | (380) | (650) | (1,098) | (1,228) |
| Net income attributable to Tidewater Inc. | $46,371 | $26,199 | $143,751 | $59,521 |
| Basic income per common share | $0.88 | $0.50 | $2.74 | $1.16 |
| Diluted income per common share | $0.87 | $0.49 | $2.70 | $1.13 |
| Weighted average common shares outstanding | 52,490 | 52,230 | 52,498 | 51,235 |
| Dilutive effect of warrants, restricted stock units and stock options | 593 | 1,380 | 656 | 1,322 |
| Adjusted weighted average common shares | 53,083 | 53,610 | 53,154 | 52,557 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.