Tidewater Posts Mixed Results

February 8, 2017

Tidewater shares fell to a new record low Wednesday morning after the provider of offshore service vessels late Tuesday reported mixed fiscal Q3 results. Shares were 22% lower in recent morning trade, within a new 52-week range of $1.33 – $11.58.

Net loss for the quarter was $6.32 per share, compared to a net loss of $0.42 per share in the prior year period. Results for the quarter were impacted a $253.4 million in non-cash asset impairment charges, offset by foreign exchange gains. Excluding these items, net loss would have been $1 per share. Capital IQ provided a Street estimate of $1.22 loss per share. Revenues were $129.2 million, up from $218.2 million reported for the same period last year but fell short of the $131.2 million Street estimate.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

By DR Staff Writer

Free Email Newsletter


Enter your email address below to get the latest news and analysts' ratings for your stocks with MarketBeat's FREE daily email newsletter: