Tidewater (TDW) Reports Q1 Loss of $1.67, Miss on Revenues

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Tidewater Reports Results For The Three Months Ended March 31, 2018

May 14, 2018 4:31 PM EDT

HOUSTON, May 14, 2018 /PRNewswire/ -- Tidewater Inc. (NYSE: TDW) announced today a net loss for the three months ended March 31, 2018, of $39.2 million, or $1.67 per common share, on revenues of $91.5 million.

As more fully explained in the company's Form 10-Q for the quarter ended March 31, 2018, upon emergence from Chapter 11 bankruptcy on July 31, 2017, the company adopted fresh start accounting in accordance with applicable accounting and reporting regulations, which resulted in the company becoming a new entity for financial reporting purposes on July 31, 2017.  References herein to "Successor" relate to the financial position and results of... More