Tidewater Beats on Both Top and Bottom Lines

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Tidewater (NYS: TDW) reported earnings on May 21. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q4), Tidewater beat slightly on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew and GAAP earnings per share grew significantly.


Gross margins dropped, operating margins improved, net margins improved.

Revenue details
Tidewater chalked up revenue of $289.4 million. The nine analysts polled by S&P Capital IQ looked for a top line of $286.3 million on the same basis. GAAP reported sales were 14% higher than the prior-year quarter's $254.0 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.66. The 12 earnings estimates compiled by S&P Capital IQ averaged $0.60 per share. GAAP EPS of $0.66 for Q4 were 187% higher than the prior-year quarter's $0.23 per share.

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Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 41.0%, 510 basis points worse than the prior-year quarter. Operating margin was 14.7%, 570 basis points better than the prior-year quarter. Net margin was 11.6%, 690 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $303.9 million. On the bottom line, the average EPS estimate is $0.77.

Next year's average estimate for revenue is $1.30 billion. The average EPS estimate is $4.51.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 701 members out of 725 rating the stock outperform, and 24 members rating it underperform. Among 172 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 168 give Tidewater a green thumbs-up, and four give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Tidewater is outperform, with an average price target of $63.83.

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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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