Tidewater (TDW) Tops Q1 EPS by 26c ; Offers Guidance

Tidewater (NYSE: TDW) reported Q1 EPS of $0.89, $0.26 better than the analyst estimate of $0.63. Revenue for the quarter came in at $321.2 million versus the consensus estimate of $312.05 million.

GUIDANCE:

Tidewater sees FY2024 revenue of $1.4-1.45 billion, versus the consensus of $1.42 billion.

Share count was reduced by 171,399 shares through year-to-date share repurchases of $16.0 million at an average price of $93.34 per share
Share count was further reduced by 320,859 shares in exchange for paying $28.5 million of employee taxes on the vesting of equity compensation at an average price of $88.95 per share
Board approves additional share repurchase authorization of $18.1 million, for a total outstanding authorization of $50.7 million, the maximum permissible amount under existing debt agreements

For earnings history and earnings-related data on Tidewater (TDW) click here.

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