Quarterly ResultAug 3, 2026, 04:34 PM
Tidewater Q2 Net Income Plunges 70% to $21.66M; EPS $0.44
AI Summary
Tidewater Inc. reported a significant decline in net income for the second quarter and first half of 2026. Q2 net income attributable to Tidewater Inc. fell 70.3% to $21.66 million, with basic EPS at $0.44. For the six months, net income dropped 75.9% to $27.80 million. Operating income also decreased, while total revenue remained relatively stable, and operating cash flow saw a substantial reduction.
Key Highlights
- Q2 2026 net income attributable to Tidewater Inc. was $21.66 million, down 70.3% YoY.
- Basic EPS for Q2 2026 was $0.44, a 70.1% decrease from $1.47 in Q2 2025.
- Total revenue for Q2 2026 was $342.29 million, a slight increase of 0.25% YoY.
- Net cash provided by operating activities for H1 2026 decreased 44.1% to $86.22 million.
- No shares were repurchased in Q2 2026, compared to $50.8 million in Q2 2025.
- Pillar Two top-up tax of $2.9 million and U.S. tax expense of $18.1 million impacted H1 2026.
- Update on PDVH Sale legal proceedings, with collection remaining highly uncertain.
Price Impact
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