Tidewater Reports Q3 GAAP EPS Miss Amid Steady Revenue and Rising Day Rates
Tidewater (NYSE: TDW) reported third-quarter financial results characterized by a significant earnings miss. The company's GAAP earnings per share (EPS) came in at $0.35, falling $0.40 short of market expectations. However, revenue remained stable at $360.4 million, representing a 5.7% increase year-over-year and meeting analyst projections. Operational metrics showed signs of growth, with the average day rate increasing to $23,775 per day. This reflects a 3.7% improvement compared to the second quarter of 2026. Despite the earnings shortfall, the steady revenue and rising daily rates suggest consistent demand in its operating sector.