Earnings Releases·Nov 9, 2026, 4:55 PM ET

Tidewater Inc. — Nine Months Ended September 30, 2026 Earnings Summary

**Financial Performance:** Nine-month revenue rose 1.3% year-over-year to $1,028.9 million, while net income declined to $45.3 million from $114.8 million in the prior year period; third-quarter gross margin reached 46.8%, exceeding expectations by 100 basis points.
**Guidance and Outlook:** Updated 2026 revenue guidance to $1.43–$1.44 billion and gross margin to 47.5–48.5%, while initiating 2027 revenue guidance of $1.70–$1.75 billion and gross margin of 51–53%, citing expected continued elevated operating costs due to Middle East conflict.
**Strategic M&A:** Completed the $500 million all-cash acquisition of Wilson Sons Ultratarg Offshore (WSUT) to expand Brazil presence, with integration expected by early 2027 and $14.4 million in year-to-date related expenses.
**Capital Allocation:** Repurchased approximately $25 million of shares since the last release, leaving $475 million in remaining authorization, while total debt increased to $862.3 million and cash equivalents decreased to $390.8 million.