Offshore vessel operator Tidewater (NYSE: TDW) will be reporting results this Monday after the bell. Here’s what you need to know.
Tidewater beat analysts’ revenue expectations last quarter, reporting revenues of $326.2 million, down 2.2% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and a miss of analysts’ EBITDA estimates.
Is Tidewater a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Tidewater’s revenue to decline 4.3% year on year, a deceleration from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Tidewater rarely misses Wall Street’s revenue estimates.
Looking at Tidewater’s peers in the upstream & integrated segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Weatherford’s revenues decreased 8.2% year on year, beating analysts’ expectations by 3.4%, and Peabody Energy reported revenues up 12.7%, in line with consensus estimates. Weatherford traded up 4.5% following the results while Peabody Energy was down 7.9%.
Read our full analysis of Weatherford’s results here and Peabody Energy’s results here.
There has been positive sentiment among investors in the upstream & integrated segment, with share prices up 7% on average over the last month. Tidewater is up 10.1% during the same time and is heading into earnings with an average analyst price target of $86.57 (compared to the current share price of $75.30).
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