Tidewater

OverviewSuggest Edit

Tidewater is a company that provides offshore marine support and transportation services to the global offshore energy industry. It offers support primarily for various phases of offshore oil and natural gas exploration, field development and production as well as windfarm development and maintenance. The company presents services such as towing, anchor handling, mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover and production activities, etc.
TypePublic
Founded1956
HQHouston, TX, US
Websitetdw.com
Employee Ratings3.5
Overall CultureD

Latest Updates

Employees (est.) (Dec 2020)5,400(+2%)
Revenue (FY, 2020)$397 M(-18%)
Share Price (May 2022)$27.7(+3%)
Cybersecurity ratingAMore
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Key People/Management at Tidewater

Quintin V. Kneen

Quintin V. Kneen

President, CEO and Director
Samuel R. Rubio

Samuel R. Rubio

Executive Vice President and Chief Financial Officer
David E. Darling

David E. Darling

Executive Vice President and Chief Operating Officer
Lee Johnson

Lee Johnson

Senior Vice President and Chief Information Officer
Daniel A. Hudson

Daniel A. Hudson

Executive Vice President, General Counsel and Corporate Secretary
Darren J. Vorst

Darren J. Vorst

Vice President and Treasurer
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Tidewater Office Locations

Tidewater has offices in Houston, Amelia, Shenzhen, and in 6 other locations
Houston, TX, US (HQ)
6002 Rogerdale Rd #600
Amelia, LA, US
200 Ford Industrial Rd
Shenzhen, CN
9th Floor, Block B, Pacific Commercial Building, Jiabin Road
Mumbai, IN
1st Floor, Transocean House Lake Boulevard Road Powai
Sandnes, NO
Strandgata 5
Al Khobar, SA
Prince Hammoud, Al Aqrabiyah
Show all (10)

Tidewater Financials and Metrics

Tidewater Revenue

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View revenue for all periods
Tidewater's revenue was reported to be $397.04 m in FY, 2020 which is a 18.4% decrease from the previous period.
USD

Revenue (Q3, 2021)

92.4m

Gross profit (Q3, 2021)

27.1m

Gross profit margin (Q3, 2021), %

29.3%

Net income (Q3, 2021)

(26.3m)

EBIT (Q3, 2021)

(21.6m)

Market capitalization (27-May-2022)

1.1b

Closing stock price (27-May-2022)

27.7

Cash (30-Sept-2021)

127.4m

EV

1.2b
Tidewater's current market capitalization is $1.1 b.
Annual
USDFY, 2018FY, 2019FY, 2020

Revenue

406.5m486.5m397.0m

Revenue growth, %

20%(18%)

Cost of goods sold

275.1m332.0m272.2m

Gross profit

136.9m157.4m128.3m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Revenue

122.1m125.9m119.8m116.4m102.3m86.5m83.5m90.0m92.4m

Cost of goods sold

83.0m81.0m81.2m81.5m64.9m62.0m62.1m64.8m65.7m

Gross profit

39.9m45.4m39.1m37.5m37.6m24.7m22.5m25.7m27.1m

Gross profit Margin, %

33%36%33%32%37%29%27%29%29%
Annual
USDFY, 2018FY, 2019FY, 2020

Cash

371.8m218.3m149.9m

Accounts Receivable

111.3m110.2m112.6m

Prepaid Expenses

11.8m16.0m11.7m

Current Assets

683.3m537.3m388.6m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Cash

391.1m369.5m359.3m187.8m203.1m192.2m131.9m131.2m127.4m

Accounts Receivable

112.9m121.2m123.1m119.5m115.0m100.6m99.9m90.2m86.0m

Prepaid Expenses

22.2m20.4m18.9m13.6m16.0m13.1m

Inventories

29.3m29.1m21.3m21.9m20.6m17.8m15.7m15.4m13.3m
Annual
USDFY, 2018FY, 2019FY, 2020

Net Income

(171.8m)(141.2m)(196.7m)

Depreciation and Amortization

51.3m77.0m73.0m

Inventories

(2.0m)2.4m2.6m

Accounts Payable

(15.2m)(4.4m)(10.5m)
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Net Income

(21.3m)(36.8m)(80.6m)(18.5m)(129.2m)(167.3m)(35.5m)(65.2m)(91.6m)

Depreciation and Amortization

19.0m38.6m57.6m17.3m34.3m53.6m18.5m36.7m54.6m

Accounts Payable

(2.2m)(7.8m)(8.3m)3.2m(10.4m)(14.5m)(2.4m)(792.0k)1.1m

Cash From Operating Activities

(3.2m)(20.7m)(36.7m)(27.5m)(12.8m)1.8m5.7m10.6m8.1m
USDFY, 2018

Revenue/Employee

73.9k

Debt/Equity

0.4 x

Debt/Assets

0.2 x

Financial Leverage

1.6 x
Show all financial metrics

Tidewater Operating Metrics

FY, 2018FY, 2019FY, 2020

Active Vessels

165152114

Vessels Disposed (Americas)

102113

Vessels Stacked

921935

Vessels for Sale

4623

Tidewater Acquisitions / Subsidiaries

Company NameDateDeal Size
GULFMARK OFFSHORE INCNovember 15, 2018$285.49 m
Troms Offshore Supply ASJune 04, 2013$150 m
O.I.L. (Nigeria) LimitedMay 16, 1997$626 m
Zapata Gulf Marine L.L.C.January 15, 1992
3291361 Nova Scotia ULC
Al Wasl Marine LLC
Antilles Marine Service Limited
Arabia Shipping Limited
Arrendadora de Naves del Golfo, S.A. de C.V., SOFOM, ENR
Chalvoyage (M) Sdn. Bhd.
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Tidewater Revenue Breakdown

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Tidewater revenue breakdown by geographic segment: 21.1% from Europe/Mediterranean, 19.8% from West Africa, 31.9% from Americas, 24.5% from Middle East/Asia Pacific and 2.7% from Other

Tidewater Cybersecurity Score

Cybersecurity ratingPremium dataset

A

96/100

SecurityScorecard logo

Tidewater Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

CSRHub logo

Tidewater Online and Social Media Presence

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Tidewater Company Culture

  • Overall Culture

    D

    59/100

  • CEO Rating

    A+

    87/100

  • Compensation

    A+

    85/100

Learn more on Comparably

Tidewater News and Updates

Tracy Shackelford & Harold Philipsen Affiliate with Bleakley Financial Group, Launch Bleakley Tidewater in Williamsburg, VA

WILLIAMSBURG, Va., Dec. 15, 2020 /PRNewswire/ -- Wealth management and financial planning duo Tracy Shackelford and Harold Philipsen, have rebranded their firm and joined Bleakley Financial Group. The long-time business partners and married couple opened Bleakley – Tidewater, the newest...

Tidewater Named “Superstar in Business” by Delaware State Chamber

DOVER, Del., Sept. 08, 2020 (GLOBE NEWSWIRE) -- Tidewater Utilities, Inc. (Tidewater) has been named a 2020 Superstar in Business (60-150 Employee Category) by the Delaware State Chamber of Commerce. The recognition honors small businesses that display the highest of ethical standards and incorpor…

Tidewater Utilities Announces Promotions

DOVER, Del., Aug. 21, 2020 (GLOBE NEWSWIRE) -- Tidewater Utilities, Inc. (“Tidewater” or the “Company”) has announced the promotion of several key employees as part of its ongoing succession planning initiatives.

Tidewater Portfolio Companies in the News

Phononic-- Winner of Fast Company's 2020 World-Changing Ideas Award; Opus Medical—Agrees to Deal With Major Chinese Medical Device Player

Tidewater says Husky declares force majeure for PGR offtake agreements

Tidewater Midstream said on Friday Canadian oil and gas producer Husky Energy has delivered a force majeure notice on offtake agreements from the Prince George Refinery because of drop in demand for refined products due to the coronavirus outbreak.
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Tidewater Frequently Asked Questions

  • When was Tidewater founded?

    Tidewater was founded in 1956.

  • Who are Tidewater key executives?

    Tidewater's key executives are Quintin V. Kneen, Samuel R. Rubio and David E. Darling.

  • How many employees does Tidewater have?

    Tidewater has 5,400 employees.

  • What is Tidewater revenue?

    Latest Tidewater annual revenue is $397 m.

  • What is Tidewater revenue per employee?

    Latest Tidewater revenue per employee is $73.5 k.

  • Who are Tidewater competitors?

    Competitors of Tidewater include SEACOR, Siem Offshore and Kirby Corporation.

  • Where is Tidewater headquarters?

    Tidewater headquarters is located at 6002 Rogerdale Rd #600, Houston.

  • Where are Tidewater offices?

    Tidewater has offices in Houston, Amelia, Shenzhen, and in 6 other locations.

  • How many offices does Tidewater have?

    Tidewater has 10 offices.