Tidewater (TDW) FY2023 results: revenue $1.0 billion, up 55.9% on the year
Tidewater Inc. (TDW) reported revenue of $1.0 billion for fiscal 2023, the year ended 31 December 2023, up 55.9% on the year before. Net income was $97 million, and diluted earnings per share $1.84. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$1.0 billion
+55.9% on the year
FY2018FY2023
Operating margin
18.0%
4.1% a year earlier
FY2018FY2023
Net income
$97 million
FY2018FY2023
Diluted EPS
$1.84
FY2018FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
104
40.2
15.0
+159.0%
Capital expenditure
31.6
16.6
9.0
+89.9%
Free cash flow
72.6
23.6
6.1
+207.8%
Free cash flow margin
7.2%
3.6%
1.6%
Cash from investing
-610
-23.8
25.1
Cash from financing
616
-2.7
-41.0
Depreciation and amortisation
129
83.5
73.2
+54.2%
Share-based compensation
10.8
7.4
5.6
+45.9%
Buybacks
35.0
0.0
0.0
Diluted shares, weighted
53m
44m
41m
+20.0%
Shares outstanding at period end
52m
51m
41m
+3.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,039
866
701
+20.0%
Non-controlling interest
-1.5
0.0
0.5
Debt
734
169
168
+334.5%
Operating lease liabilities
5.3
n/a
n/a
Other liabilities
285
263
226
+8.6%
Total liabilities and equity
2,063
1,298
1,096
+59.0%
Fixed assets
1,315
797
688
+65.1%
Cash and equivalents
274
164
149
+67.1%
Receivables
268
156
86.5
+71.5%
Other assets
205
180
172
+13.6%
Total assets
2,063
1,298
1,096
+59.0%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.