Filing Flows › Tidewater (TDW) › Q4 2024
Tidewater (TDW) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 27, 2025
Tidewater (TDW) reported revenue of $345M for the fourth quarter 2024 (Q4 2024), +14% from a year earlier and +1% from the quarter before. Operating margin was 23.6%, net earnings $36.9M (10.7% of revenue).
Tidewater, Q4 2024: revenue $345M (+14% year over year), operating margin 23.6%, net earnings $36.9M, operating cash flow $100M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $345M | +1% | +14% |
| Operating profit | $81.4M | +16% | +29% |
| Net earnings | $36.9M | -20% | -2% |
| Operating cash flow | $100M | +104% | +114% |
| Free cash flow | $95.5M | +121% | +149% |
What changed
Revenue was $345.1M in Q4 2024, up 14% year over year and up 1% from the previous quarter. Vessel was the largest line at 100% of revenue.
Operating profit was $81.4M, a 23.6% margin (up 2.7 points year over year). Of the extra revenue versus a year earlier, 43% reached operating profit, above the 21% margin then. Total costs grew 10% against revenue growth of 14%. The fastest-growing cost line was General & admin (+24%). Net earnings were $36.9M, down 2% year over year. The effective tax rate was 30.9%.
Operating cash flow was $100.0M (up 114% year over year), 273% of net earnings. Non-cash charges added back $38.7M of depreciation and amortization and $3.9M of share-based compensation. Working capital and other items added $20.8M. Capital expenditures of $4.5M left free cash flow of $95.5M.
Questions
What was Tidewater's revenue in the fourth quarter 2024?
Tidewater (TDW) reported revenue of $345M for the fourth quarter 2024 (Q4 2024), +14% from a year earlier and +1% from the quarter before.
Was Tidewater profitable in the fourth quarter 2024?
Operating profit was $81.4M (23.6% of revenue) and net earnings $36.9M.
Source: Tidewater 10-K on SEC EDGAR.