Tidewater GAAP EPS of $0.87 misses by $0.30, revenue of $340.4M misses by $5.15M

seekingalpha
08 Nov 2024
  • Tidewater press release (NYSE:TDW): Q3 GAAP EPS of $0.87 misses by $0.30.
  • Revenue of $340.4M (+13.7% Y/Y) misses by $5.15M.
  • Shares -11.15% AH.
  • Share Repurchases and 2024 Guidance

    • Repurchased 189,738 shares since the end of the second quarter of 2024 through the end of October for $15.0 million at an average price of $79.06 per share
    • Board approves additional share repurchase authorization of $10.1 million, for a total current outstanding authorized capacity of $42.8 million, the maximum permissible amount under existing debt agreements
    • Updated 2024 revenue guidance to $1.33 to $1.35 billion and 2024 gross margin guidance of 48%. FY24 revenue consensus is $1.39B.

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