Tidewater Q2 net income falls to $21.7 million; revenue flat at $342.3 million
Tidewater reported second-quarter 2026 revenue of $342.3 million, roughly flat from $341.4 million a year earlier, but net income fell to $21.7 million ($0.43 per diluted share) from $72.9 million ($1.46) in the same quarter of 2025. The company also revised its 2026 revenue guidance to $1.42 billion to $1.47 billion and gross margin guidance to 49% to 50%, reflecting a delayed closing of the WSUT acquisition and Middle East conflict costs.
Key points
- Q2 2026 revenue $342.3 million versus $341.4 million in Q2 2025; up 4.9% from Q1 2026.
- Q2 2026 net income $21.7 million ($0.43 diluted) versus $72.9 million ($1.46 diluted) a year earlier.
- Average day rate rose $655 per day (2.9%) from Q1 2026 to $22,938; weighted average leading edge day rate was $24,341.
- 2026 revenue guidance set at $1.42 billion to $1.47 billion; WSUT acquisition now expected to close around September 1, 2026; about $13.1 million of conflict-related costs expected in 2026.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:39 AM ET, from the text of the filing and its press-release exhibits 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 August 03, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.