New York-listed offshore player Tidewater has delivered an upside first quarter on both the bottom and top lines while significantly reducing its count of outstanding shares.
The Houston-based outfit reported net income of $42.7m, or $0.83 per share, on revenue of $333.4m.
Day rates climb
Analysts projected net income of $0.59 per share and revenue of $325.9m.
Tidewater’s results were down slightly from the first three months of 2024, when the company reported a net income of $47m or $0.89
