Offshore vessel operator Tidewater (NYSE: TDW) will be reporting results this Monday afternoon. Here’s what to expect.
Tidewater beat analysts’ revenue expectations last quarter, reporting revenues of $342.3 million, flat year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.
Is Tidewater a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Tidewater’s revenue to grow 3.6% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Tidewater rarely misses Wall Street’s revenue estimates.
Looking at Tidewater’s peers in the mixed or offshore upstream e&p segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Granite Ridge Resources delivered year-on-year revenue growth of 57.3%, beating analysts’ expectations by 16.2%, and APA Corporation reported revenues up 41%, topping estimates by 6.9%. Granite Ridge Resources traded up 13.3% following the results while APA Corporation was down 2.3%.
Read our full analysis of Granite Ridge Resources’s results here and APA Corporation’s results here.
Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the mixed or offshore upstream e&p stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 10.8% on average over the last month. Tidewater is down 18% during the same time and is heading into earnings with an average analyst price target of $96.75 (compared to the current share price of $70.06).
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