SDRL - Tidewater: Decent Quarter, Robust Outlook - Buy

2025-05-07 11:59:51 ET

Summary

• Tidewater Inc. reported strong first quarter 2025 results, with revenue and profitability coming in well ahead of expectations.
• Strong cash generation was utilized for substantial share repurchases.
• The company continues to evaluate options for a comprehensive debt refinancing that would allow for even higher shareholder capital returns.
• While the company acknowledged additional uncertainties from escalating trade tensions and increasing OPEC+ supply, customer projects have remained on track so far.
• TDW stock remains cheap on an EV/Adjusted EBITDA basis. Reiterating "Buy" rating with a slightly reduced price target of $60.00.

Note:

Tidewater Inc. or “Tidewater” (NYSE: TDW ) has been covered by me previously, so investors should view this article as an update to my earlier publications on the company. ...

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