Tidewater Q4 revenue fell 2.4%; $201.5 million tax benefit lifted net income to $219.9 million
Tidewater reported fourth-quarter 2025 revenue of $336.8 million, down 2.4% from a year earlier, while net income attributable to the company rose to $219.9 million ($4.41 per diluted share) from $36.9 million, mainly because of a non-cash deferred tax benefit of $201.5 million. The company also updated its 2026 revenue guidance to $1.43 billion to $1.48 billion, pro forma for the pending Wilson Sons Ultratug acquisition, which it said assumes a mid-year close.
Key points
- Q4 2025 revenue of $336.8 million, down from $345.1 million in Q4 2024; Q4 Adjusted EBITDA of $143.1 million
- Q4 net income of $219.9 million ($4.41 per diluted share), versus $36.9 million ($0.70 per diluted share) a year earlier, helped by a $201.5 million non-cash deferred tax benefit
- 2026 revenue guidance set at $1.43 billion to $1.48 billion, with gross margin guidance of 49% to 51%, pro forma for the Wilson Sons Ultratug acquisition
- Full-year 2025 revenue of $1,352.8 million, up 0.5%; the company has $500 million remaining in its share repurchase authorization
The filing
Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 02, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.