Recent Updates — TDW

Tidewater amended its BNDES Construction Loans effective October 1, 2026, replacing the original guarantors (Wilson Sons and Remolcadores) with Tidewater itself. The amendments raised interest rates to between 3.21% and 3.77%, increased collateral coverage ratios to 130%, and updated acceleration provisions. Concurrently, $170.5 million in bank guarantees provided by DNB Bank ASA were cancelled. This follows the August 31 acquisition of Tidewater Offshore do Brasil S.A. and Atlantic Offshore Services S.A. The company operates in the offshore marine support industry.

Tidewater Inc. reported financial results for the quarter and six months ended June 30, 2026. Revenue was $342.3 million for Q2, a 4.9% increase from Q1, with net income of $21.7 million ($0.43 per diluted share). Adjusted EBITDA reached $133.8 million, and free cash flow was $64.4 million. The company updated its full-year 2026 revenue guidance to $1.42–$1.47 billion and gross margin guidance to 49%–50%, reflecting a delayed closing of the Wilson Sons Ultratug Offshore acquisition expected around September 1, 2026. An outstanding share repurchase program authorization remains at $500 million. Tidewater owns and operates the largest fleet of offshore support vessels in the industry.

Tidewater Inc. held its 2026 annual meeting of stockholders on June 16, 2026. Stockholders approved the First Amendment to the Company’s Amended and Restated 2021 Stock Incentive Plan, which increases the maximum number of shares available for issuance by 2,250,000. Additionally, the meeting resulted in the election of seven directors, the approval of an advisory vote on executive compensation, and the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the 2026 fiscal year. Tidewater Inc. provides offshore services to the marine energy industry.