Tidewater Q2 FY26 net income rises to USD 21.08 million; revenue increases 5% to USD 342.29 million
TDW•Quarterly results improve
- Tidewater posted net income of USD 21.08 million for the quarter ended June 30, 2026, swinging from USD 5.98 million in the prior quarter.
- Revenue rose 5% to USD 342.29 million, with utilization up 1.5 percentage points to 79.2%.
- Operating income climbed 6% to USD 62.53 million, while average vessel day rates increased 2.9% to USD 22,938.
Balance sheet and acquisition update
- Cash and cash equivalents totaled USD 616.1 million at June 30, 2026, with USD 250 million of revolving credit capacity undrawn.
- It expects to close the Wilson Companies acquisition around Sept. 1, 2026, paying USD 500 million subject to adjustments and assuming about USD 231 million of debt.
