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Close of Nov 06, 2026 · end-of-day data
TDW 8-K filings in 2025
Every material Form 8-K Tidewater filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Tidewater reported third-quarter 2025 revenue of $341.1 million, up 0.2% from a year earlier, but swung to a net loss of $0.8 million, or $0.02 per diluted share, from net income of $46.4 million a year earlier. The loss reflects a $27.1 million loss on early debt extinguishment tied to the July 2025 refinancing. The company also narrowed its 2025 revenue guidance and initiated 2026 revenue guidance of $1.32 billion to $1.37 billion.
Q3 2025 revenue of $341.1 million versus $340.4 million in Q3 2024; net loss of $0.8 million versus net income of $46.4 million
Loss on early extinguishment of debt of $27.1 million associated with the July 2025 refinancing
2025 revenue guidance narrowed to $1.33 billion to $1.35 billion; 2025 gross margin guidance of 49% to 50%
2026 guidance initiated at $1.32 billion to $1.37 billion in revenue and 48% to 50% gross margin; $500 million share repurchase authorization outstanding
Tidewater reported second-quarter 2025 revenue of $341.4 million and net income of $72.9 million, or $1.46 per diluted share, compared with $50.4 million, or $0.94 per share, a year earlier. The net income includes a one-time, non-cash $27.0 million increase from reversing a valuation allowance on U.S. net operating losses, and the company reiterated its 2025 revenue and gross margin guidance. The Board also approved a share repurchase program of up to $500.0 million, which the company may modify, suspend or discontinue at any time.
Q2 2025 revenue of $341.4 million, up 0.6% from $339.2 million in Q2 2024.
Net income attributable to Tidewater of $72.9 million ($1.46 diluted per share), versus $50.4 million ($0.94) a year earlier, including a one-time, non-cash $27.0 million benefit.
Board authorized a share repurchase program of up to $500.0 million; the company is not obligated to buy any specific number of shares.
2025 revenue guidance of $1.32 billion to $1.38 billion and gross margin guidance of 48% to 50% were reiterated.
Tidewater issued $650 million of 9.125% senior notes due 2030 and entered a new $250 million senior secured revolving credit facility, replacing its existing $25 million facility. Proceeds were used to repay its term loan and redeem its 8.50% 2026 Bonds and 10.375% 2028 Bonds, which increases the company's debt under the new notes and facility.
$650 million of 9.125% senior notes due July 15, 2030, issued under an indenture with Wilmington Trust, National Association, as trustee
New $250 million senior secured revolving credit facility with DNB Bank ASA, priced at Term SOFR plus 250 to 350 basis points, replacing the $25 million facility terminated in connection with the financing
Redemption of 100% of the 8.50% Senior Secured Bonds due 2026 and 10.375% Senior Unsecured Bonds due 2028 with all conditions met effective July 7, 2025
Piers Middleton named Executive Vice President and Chief Operating Officer, effective July 1, 2025
Tidewater said Executive Vice President and Chief Operating Officer David Darling will stop serving as an executive officer effective June 30, 2025, as part of a long-term succession plan. He will provide transition services for up to 18 months but will no longer have an executive decision-making or policy-setting role. At the June 5, 2025 annual meeting, stockholders elected all eight director nominees, approved the advisory vote on executive compensation, and ratified PricewaterhouseCoopers LLP as auditor.
Darling, 70, ceases executive officer role effective June 30, 2025, and will support the transition for up to 18 months.
He will receive a monthly cash payment of $5,000 during the transition period, plus severance benefits under a agreement dated effective March 9, 2021.
At the June 5, 2025 annual meeting, 87.79% of the 50,853,374 shares entitled to vote were represented.
All eight director nominees were elected, the advisory say-on-pay vote was approved, and PricewaterhouseCoopers LLP was ratified for fiscal 2025.
Tidewater reported first-quarter 2025 revenue of $333.4 million, up 3.8% from $321.2 million a year earlier, but net income fell to $42.7 million ($0.83 per share) from $47.0 million ($0.89 per share). The company reiterated its 2025 revenue guidance of $1.32 to $1.38 billion and gross margin guidance of 48% to 50%, and said it repurchased 2.3 million shares for $90.0 million through April 14, 2025.
Q1 2025 revenue of $333.4 million, up from $321.2 million in Q1 2024
Net income of $42.7 million ($0.83 per diluted share), down from $47.0 million ($0.89 per share)
Free cash flow of $94.7 million and net cash from operating activities of $86.0 million
2025 revenue guidance of $1.32 to $1.38 billion reiterated, not changed
Tidewater reported fourth-quarter 2024 revenue of $345.1 million, up from $302.7 million a year earlier, while quarterly net income of $36.9 million ($0.70 per diluted share) was roughly flat against $37.7 million ($0.70) in the prior-year quarter. The company also initiated 2025 revenue guidance of $1.32 billion to $1.38 billion and approved a new share repurchase program of up to $90.3 million, which management said is the maximum permitted under its existing debt agreements.
Q4 2024 revenue of $345.1 million, compared with $302.7 million for Q4 2023
Q4 2024 net income of $36.9 million ($0.70 per diluted share), compared with $37.7 million ($0.70) for Q4 2023
Full-year 2024 net income of $180.7 million ($3.40 per diluted share), up 85.9% from 2023
2025 guidance: revenue of $1.32 billion to $1.38 billion and gross margin of 48% to 50%; new buyback authorization of $90.3 million
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Tidewater filing is on SEC EDGAR ↗. 8-K briefs of other companies →