Tidewater Reports Results for the Three Months Ended March 31, 2026

Tidewater reported Q1 revenue of $326.2 million, a slight 2.2% decline year-over-year, but operational metrics like day rates and utilization outperformed expectations, particularly in the North Sea. Adjusted EBITDA came in at $129.3 million with free cash flow of $34.4 million, while the company maintained its full-year revenue guidance of $1.43 billion to $1.48 billion.

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