Tidewater Inc. announced its 2025 results with Quintin Kneen, Tidewater’s President and CEO, commenting, “Although 2025 was anticipated to be a down year for the offshore industry…
Tidewater Inc. announced its 2025 results with Quintin Kneen, Tidewater’s President and CEO, commenting, “Although 2025 was anticipated to be a down year for the offshore industry, I am pleased to say that by all measures Tidewater was able to successfully navigate these challenges to deliver one of the best years in recent memory, demonstrating the resilience of the company we’ve endeavored to build over the last eight years.”
The business generated year-over-year revenue growth, gross margin expansion and average day rate growth. Adjusted EBITDA grew by approximately 7% to just under $600 million and the generated nearly $430 million of free cash flow, far outpacing our free cash flow generation in 2024.
The company successfully reset its debt capital structure this summer and established a sizable revolving credit facility, positioning Tidewater with one of the strongest balance sheets in the offshore vessel industry.
“All the success we realized in 2025 is due to a persistent focus across the organization to excellence and I appreciate the effort of all employees during 2025 to achieve these outcomes.
“The fourth quarter of 2025 nicely exceeded our expectations as vessel up-time across the fleet continued to exceed our original expectations, delivering revenue of $336.8
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