Tidewater Inc. to Acquire Wilson Sons Ultratug for $500 Million
- Acquisition Overview: Tidewater Inc. announced a definitive agreement to acquire Wilson Sons Ultratug Participações S.A. for an enterprise value of approximately $500 million, including the assumption of WSUT's existing debt of about $261 million, significantly enhancing Tidewater's market position in Brazil.
- Market Potential Analysis: CEO Quintin Kneen emphasized that Brazil's offshore vessel market is one of the largest globally, and with nearly 90% of WSUT's fleet being Brazilian-built, this acquisition will improve Tidewater's competitiveness in local tendering processes.
- Financial Expectations: WSUT is projected to generate approximately $220 million in revenue and a gross margin of 58% over the next 12 months, while incurring about $14 million in annual G&A expenses, providing strong cash flow support for Tidewater.
- Strategic Development Direction: This acquisition is expected to lower Tidewater's net leverage ratio below 1.0, and combined with substantial near-term free cash generation, it enhances the company's flexibility for future capital deployment opportunities, further solidifying its leading position in the industry.
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Tidewater Acquires Wilson Sons Ultratug for $500 Million
- Transaction Overview: Tidewater has entered into a definitive agreement to acquire all outstanding shares of Wilson Sons Ultratug for an enterprise value of approximately $500 million, significantly enhancing Tidewater's market position in Brazil.
- Fleet Expansion: The acquisition increases Tidewater's fleet from 213 to 231 vessels, including 22 PSVs, further solidifying its leadership in the offshore support vessel market.
- Financial Benefit Expectations: WSUT's business is expected to generate approximately $220 million in revenue and a gross margin of 58% in the first year, with contract rollovers anticipated to provide significant earnings and free cash flow uplift.
- Financing Advantage: Tidewater plans to novate WSUT's low-cost, long-term debt, which is expected to provide a significant cost of capital advantage, further enhancing the company's financial flexibility.
Tidewater Inc. to Acquire Wilson Sons Ultratug for $500 Million
- Acquisition Overview: Tidewater Inc. announced a definitive agreement to acquire Wilson Sons Ultratug Participações S.A. for an enterprise value of approximately $500 million, including the assumption of WSUT's existing debt of about $261 million, significantly enhancing Tidewater's market position in Brazil.
- Market Potential Analysis: CEO Quintin Kneen emphasized that Brazil's offshore vessel market is one of the largest globally, and with nearly 90% of WSUT's fleet being Brazilian-built, this acquisition will improve Tidewater's competitiveness in local tendering processes.
- Financial Expectations: WSUT is projected to generate approximately $220 million in revenue and a gross margin of 58% over the next 12 months, while incurring about $14 million in annual G&A expenses, providing strong cash flow support for Tidewater.
- Strategic Development Direction: This acquisition is expected to lower Tidewater's net leverage ratio below 1.0, and combined with substantial near-term free cash generation, it enhances the company's flexibility for future capital deployment opportunities, further solidifying its leading position in the industry.
Sagil Capital Fully Exits Tidewater Position, Selling 201,763 Shares
- Complete Exit: Sagil Capital fully exited its Tidewater position by selling 201,763 shares in Q4 for an estimated $10.76 million, reflecting both share price changes and a decline in position value, indicating a cautious outlook on the company's future performance.
- Stable Quarterly Performance: Tidewater reported revenue of $341.1 million in the latest quarter, essentially flat year-over-year, with adjusted EBITDA at $137.9 million; despite stable performance, Sagil's exit may suggest concerns about future growth potential.
- Strong Market Performance: As of February 11, Tidewater's stock price stood at $71.16, up 29.6% year-over-year, significantly outperforming the S&P 500's approximately 14% gain, indicating market recognition of its business, but also potentially prompting profit-taking by investors.
- Cautious Future Outlook: Although Tidewater's vessel utilization is near 76% with average day rates at $22,798, in capital-intensive industries, timing on entry and exit is crucial, and Sagil's exit may reflect a strategy to reduce risk exposure.
Tidewater sets 2026 revenue goal of $1.32B-$1.37B amid increasing capital allocation flexibility
Management Performance: Tidewater Inc. reported Q3 2025 revenue of $341.1 million, exceeding expectations, with a gross margin of 48%. The company generated strong free cash flow of $83 million, bringing the year-to-date total to nearly $275 million.
2026 Outlook: Management initiated a revenue guidance range for 2026 of $1.32 billion to $1.37 billion, with expectations of 80% utilization and a robust backlog representing 69% of the midpoint of the revenue guidance.
Financial Results: Despite a net loss of $806,000 for the quarter, the gross margin was above expectations, attributed to higher day rates and utilization. Operating costs increased due to various factors, including salaries and maintenance.
Market Sentiment: Analysts expressed a neutral to slightly positive outlook, with management maintaining a confident tone about long-term prospects while acknowledging short-term headwinds in certain regions and ongoing structural industry risks.
Tidewater Reports Loss for Third Quarter
Third-Quarter Financial Performance: Tidewater Inc. reported a third-quarter net loss of $0.8 million or $0.02 per share, a significant decline from a net income of $46.4 million or $0.87 per share in the same quarter last year.
Revenue and Gross Margin: The company's revenues for the third quarter were $341.1 million, slightly up from $340.4 million the previous year, with a gross margin of 48.0%.
CEO's Insights: CEO Quintin Kneen noted that vessel uptime exceeded expectations, although average day rates softened in certain regions, while other segments experienced meaningful increases.
Updated Revenue Guidance: Tidewater updated its 2025 revenue guidance to between $1.33 and $1.35 billion and initiated guidance for 2026 at $1.32 to $1.37 billion.
Earnings Report for November 10, 2025: After-Hours Updates on OXY, RKLB, ASTS, RGTI, SARO, WULF, BLTE, PLUG, MLYS, TDW, BBAI, JAMF
Earnings Reports Overview: Several companies, including Occidental Petroleum, Rocket Lab, and StandardAero, are set to report their earnings for the quarter ending September 30, 2025, with varying forecasts and performance expectations.
Occidental Petroleum (OXY): Expected to report earnings per share (EPS) of $0.48, a 52% decrease from last year, but has consistently beaten expectations in the past year.
Rocket Lab (RKLB) and AST SpaceMobile (ASTS): RKLB forecasts an EPS of -$0.09 (10% increase), while ASTS anticipates -$0.18 (25% increase), both showing improvements compared to the previous year.
Other Notable Companies: TeraWulf, Belite Bio, and Plug Power are also reporting, with mixed forecasts; TeraWulf expects -$0.04 (20% increase), while Belite Bio anticipates a significant decrease in EPS by 89.29%.
Tidewater Acquires Wilson Sons Ultratug for $500 Million
- Transaction Overview: Tidewater has entered into a definitive agreement to acquire all outstanding shares of Wilson Sons Ultratug for an enterprise value of approximately $500 million, significantly enhancing Tidewater's market position in Brazil.
- Fleet Expansion: The acquisition increases Tidewater's fleet from 213 to 231 vessels, including 22 PSVs, further solidifying its leadership in the offshore support vessel market.
- Financial Benefit Expectations: WSUT's business is expected to generate approximately $220 million in revenue and a gross margin of 58% in the first year, with contract rollovers anticipated to provide significant earnings and free cash flow uplift.
- Financing Advantage: Tidewater plans to novate WSUT's low-cost, long-term debt, which is expected to provide a significant cost of capital advantage, further enhancing the company's financial flexibility.
Tidewater Inc. to Acquire Wilson Sons Ultratug for $500 Million
- Acquisition Overview: Tidewater Inc. announced a definitive agreement to acquire Wilson Sons Ultratug Participações S.A. for an enterprise value of approximately $500 million, including the assumption of WSUT's existing debt of about $261 million, significantly enhancing Tidewater's market position in Brazil.
- Market Potential Analysis: CEO Quintin Kneen emphasized that Brazil's offshore vessel market is one of the largest globally, and with nearly 90% of WSUT's fleet being Brazilian-built, this acquisition will improve Tidewater's competitiveness in local tendering processes.
- Financial Expectations: WSUT is projected to generate approximately $220 million in revenue and a gross margin of 58% over the next 12 months, while incurring about $14 million in annual G&A expenses, providing strong cash flow support for Tidewater.
- Strategic Development Direction: This acquisition is expected to lower Tidewater's net leverage ratio below 1.0, and combined with substantial near-term free cash generation, it enhances the company's flexibility for future capital deployment opportunities, further solidifying its leading position in the industry.
Sagil Capital Fully Exits Tidewater Position, Selling 201,763 Shares
- Complete Exit: Sagil Capital fully exited its Tidewater position by selling 201,763 shares in Q4 for an estimated $10.76 million, reflecting both share price changes and a decline in position value, indicating a cautious outlook on the company's future performance.
- Stable Quarterly Performance: Tidewater reported revenue of $341.1 million in the latest quarter, essentially flat year-over-year, with adjusted EBITDA at $137.9 million; despite stable performance, Sagil's exit may suggest concerns about future growth potential.
- Strong Market Performance: As of February 11, Tidewater's stock price stood at $71.16, up 29.6% year-over-year, significantly outperforming the S&P 500's approximately 14% gain, indicating market recognition of its business, but also potentially prompting profit-taking by investors.
- Cautious Future Outlook: Although Tidewater's vessel utilization is near 76% with average day rates at $22,798, in capital-intensive industries, timing on entry and exit is crucial, and Sagil's exit may reflect a strategy to reduce risk exposure.
Tidewater sets 2026 revenue goal of $1.32B-$1.37B amid increasing capital allocation flexibility
Management Performance: Tidewater Inc. reported Q3 2025 revenue of $341.1 million, exceeding expectations, with a gross margin of 48%. The company generated strong free cash flow of $83 million, bringing the year-to-date total to nearly $275 million.
2026 Outlook: Management initiated a revenue guidance range for 2026 of $1.32 billion to $1.37 billion, with expectations of 80% utilization and a robust backlog representing 69% of the midpoint of the revenue guidance.
Financial Results: Despite a net loss of $806,000 for the quarter, the gross margin was above expectations, attributed to higher day rates and utilization. Operating costs increased due to various factors, including salaries and maintenance.
Market Sentiment: Analysts expressed a neutral to slightly positive outlook, with management maintaining a confident tone about long-term prospects while acknowledging short-term headwinds in certain regions and ongoing structural industry risks.
Tidewater Reports Loss for Third Quarter
Third-Quarter Financial Performance: Tidewater Inc. reported a third-quarter net loss of $0.8 million or $0.02 per share, a significant decline from a net income of $46.4 million or $0.87 per share in the same quarter last year.
Revenue and Gross Margin: The company's revenues for the third quarter were $341.1 million, slightly up from $340.4 million the previous year, with a gross margin of 48.0%.
CEO's Insights: CEO Quintin Kneen noted that vessel uptime exceeded expectations, although average day rates softened in certain regions, while other segments experienced meaningful increases.
Updated Revenue Guidance: Tidewater updated its 2025 revenue guidance to between $1.33 and $1.35 billion and initiated guidance for 2026 at $1.32 to $1.37 billion.
Earnings Report for November 10, 2025: After-Hours Updates on OXY, RKLB, ASTS, RGTI, SARO, WULF, BLTE, PLUG, MLYS, TDW, BBAI, JAMF
Earnings Reports Overview: Several companies, including Occidental Petroleum, Rocket Lab, and StandardAero, are set to report their earnings for the quarter ending September 30, 2025, with varying forecasts and performance expectations.
Occidental Petroleum (OXY): Expected to report earnings per share (EPS) of $0.48, a 52% decrease from last year, but has consistently beaten expectations in the past year.
Rocket Lab (RKLB) and AST SpaceMobile (ASTS): RKLB forecasts an EPS of -$0.09 (10% increase), while ASTS anticipates -$0.18 (25% increase), both showing improvements compared to the previous year.
Other Notable Companies: TeraWulf, Belite Bio, and Plug Power are also reporting, with mixed forecasts; TeraWulf expects -$0.04 (20% increase), while Belite Bio anticipates a significant decrease in EPS by 89.29%.
