Profile
Sector:
EnergyIndustry:
Oil & Gas Equipment & ServicesCountry:
United StatesIPO:
17 March 1980Website:
http://www.tdw.comNext earnings report:
07 November 2024Last dividends:
N/ANext dividends:
N/APrice
after hours | Fri, 01 Nov 2024 23:58:45 GMTDividend
Analysts recommendations
Institutional Ownership
TDW Latest News
The OSV outlook is one of the most interesting in the shipping industry. The order book is nearly zero, and there are only a few laid-up vessels available. After the recent sell-off, Tidewater is trading at interesting price levels. Due to volatile oil prices, next year could face more headwinds than before; however, the long-term outlook is promising.
Dublin, Sept. 20, 2024 (GLOBE NEWSWIRE) -- The "United States Offshore Support Vessels Market 2019-2029" report has been added to ResearchAndMarkets.com's offering. The United States Offshore Support Vessels Market was valued at USD 4.76 Billion in 2023 and is predicted to experience robust growth in the forecast period with a CAGR of 2.65% through 2029. This market has experienced significant growth due to the increasing offshore drilling activities in the Gulf of Mexico and other strategic offshore regions. Several factors contribute to the robust growth of the U.S. OSV market. Firstly, the resurgence of offshore exploration and production activities, driven by rising oil prices and technological advancements, has bolstered demand for support vessels. These vessels are indispensable for transporting supplies, equipment, and personnel to and from offshore platforms, as well as for performing critical tasks such as anchor handling, towing, and maintenance operations. The ongoing investment in deepwater and ultra-deepwater projects has heightened the need for advanced and high-capacity OSVs. The Gulf of Mexico, in particular, remains a hotspot for offshore drilling, necessitating a steady supply of versatile and reliable support vessels. The development of new offshore fields and the expansion of existing ones further amplify the demand for OSVs, fostering market growth. Technological innovation within the OSV market is another pivotal factor driving its expansion. Modern OSVs are equipped with state-of-the-art technology, including dynamic positioning systems, advanced navigation, and communication systems, which enhance their operational efficiency and safety. The integration of green technologies, such as fuel-efficient engines and emission reduction systems, aligns with the industry's shift towards more sustainable operations, attracting investments and contracts from environmentally conscious oil and gas operators. Moreover, strategic alliances and partnerships among key industry players are propelling market growth. Collaborative efforts between vessel operators, oil and gas companies, and technology providers are leading to the development of more sophisticated and specialized vessels. These partnerships also facilitate the sharing of expertise and resources, optimizing the deployment and utilization of OSVs.
DOVER, Del., Aug. 30, 2024 (GLOBE NEWSWIRE) -- Tidewater Utilities, Inc. (“Tidewater” or the “Company”), a wholly owned subsidiary of Middlesex Water Company (Nasdaq:MSEX) filed a request today with the Delaware Public Service Commission (PSC) for new rates in order to recover prudently incurred investments made in the last ten years to support continued regulatory compliance, enhance water quality, service reliability, security and resiliency of its water utility infrastructure assets.
Tidewater is the largest global OSV operator, making great cash flows in an industry with many tailwinds. It has become a top 5 position for me. Management has the company positioned and operating well and is committed to share buybacks / earnings-accretive strategies. Additionally, hedge funds are net short commodities for the first time since 2016! I think investors looking for unique energy / commodity exposure can accumulate here for upside. I rate TDW as a “Strong Buy” for a short- and long-term inflation play.
Leading offshore service vessel provider Tidewater Inc. reported strong Q2/2024 results, with both top and bottom line results exceeding expectations. Revenues of $339.2 million and Adjusted EBITDA of $139.7 million represented new multi-year highs. The company's average dayrate of $21,130 moved up by 32% year-over-year and 8% sequentially. Despite the company's strong second quarter results, management lowered full-year expectations due to several drilling campaigns having been pushed out from the third into the fourth quarter.
Management anticipated longer drydock days in Q3 and several project commencements have been pushed to the right, leading to revised guidance. We believe these developments are temporary. The bull thesis remains in play given supportive market fundamentals. Markets underappreciate potential increases in day rates and utilization rates. We revised our fair value estimate on TDW from $125/share to $121/share (-3%), as smaller vessels with lower yields come into play.
Investors need to pay close attention to Tidewater (TDW) stock based on the movements in the options market lately.
Tidewater Inc. (NYSE:TDW ) Q2 2024 Results Conference Call August 7, 2024 9:00 AM ET Company Participants West Gotcher - VP, Finance & IR Quintin Kneen - President & CEO Piers Middleton - Chief Commercial Officer Samuel Rubio - CFO Conference Call Participants Magnus Anderson - Fearnley Securities Don Crist - Johnson Rice Josh Jayne - Daniel Energy Partners David Smith - Pickering Energy Partners Fredrik Stene - Clarksons Securities Greg Lewis - BTIG Jim Rollyson - Raymond James Operator Thank you for standing by. My name is Mandeep, and I'll be your operator today.
Tidewater (TDW) came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.72 per share. This compares to earnings of $0.46 per share a year ago.
The market for offshore oil rigs rigs and offshore supply vessels has experienced a significant increase over the past three years, mainly driven by higher oil prices. The favorable market conditions have led to a higher demand for OSVs, leading to increased usage rates as well as daily rates across the industry.
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What type of business is Tidewater?
Tidewater Inc., together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying. The company operates anchor handling towing supply vessels, platform supply vessels, crew boats, utility vessels, and offshore tugs. The company serves integrated and independent oil and gas exploration, field development, and production companies; mid-sized and smaller independent exploration and production companies; foreign government-owned or government-controlled organizations, and other related companies; offshore drilling contractors; and other companies, such as offshore construction, windfarm development, diving, and well stimulation companies. Tidewater Inc. was incorporated in 1956 and is headquartered in Houston, Texas.
What sector is Tidewater in?
Tidewater is in the Energy sector
What industry is Tidewater in?
Tidewater is in the Oil & Gas Equipment & Services industry
What country is Tidewater from?
Tidewater is headquartered in United States
When did Tidewater go public?
Tidewater initial public offering (IPO) was on 17 March 1980
What is Tidewater website?
https://www.tdw.com
Is Tidewater in the S&P 500?
No, Tidewater is not included in the S&P 500 index
Is Tidewater in the NASDAQ 100?
No, Tidewater is not included in the NASDAQ 100 index
Is Tidewater in the Dow Jones?
No, Tidewater is not included in the Dow Jones index
When was Tidewater the previous earnings report?
No data
When does Tidewater earnings report?
The next expected earnings date for Tidewater is 07 November 2024