Tidewater Q3 revenue rises sequentially on day rate gains
TDW•Tidewater's third-quarter revenue rose 5.3% sequentially to $360.42 million, and it reported net income of $17.23 million. The company updated its 2026 guidance and initiated 2027 revenue guidance of $1.70 billion to $1.75 billion.
1. Quarterly results and outlook
Tidewater said higher realized and contract day rates across vessel classes drove revenue and margin improvement in the third quarter. Its weighted average term contract day rate rose $3,033 per day, or 12.5% sequentially, to $27,373. Tidewater updated its 2026 revenue guidance to $1.43 billion to $1.44 billion and gross margin guidance to 47.5% to 48.5%, and initiated 2027 revenue guidance of $1.70 billion to $1.75 billion. It expects $19.8 million in Middle East conflict-related costs in 2026, about $8.7 million of which it is contractually permitted to bill back to customers, and closed its $500 million acquisition of Wilson Sons Ultratug Offshore.
