Robert Robotti, a director at Tidewater Inc. (NYSE:TDW), recently acquired 25,000 shares of the company’s common stock, according to a recent SEC filing. The purchase, completed on March 13, totaled approximately $1,002,717, with each share priced at $40.1087. The timing is notable as the stock trades near its 52-week low of $38.65, having declined over 50% in the past year. According to InvestingPro analysis, the company maintains a perfect Piotroski Score of 9, indicating strong financial health. Following this transaction, Robotti’s indirect holdings, which include shares owned by various entities and family members, amount to over 2.2 million shares. The acquisition reflects Robotti’s continued interest in the company, as detailed in the Form 4 filing. Trading at a P/E ratio of 11.8 and showing strong financial metrics, InvestingPro analysis suggests the stock is currently undervalued. Discover more insights and 12 additional ProTips for Tidewater in the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Tidewater Inc. reported its fourth-quarter 2024 earnings, revealing a notable miss on the expected earnings per share (EPS), which came in at $0.70, falling short of the $0.94 forecast. However, the company’s revenue for the quarter was $345.1 million, surpassing the anticipated $341.67 million. Despite the revenue beat, the stock faced a decline, reflecting investor concerns over the earnings miss. For the full year 2024, Tidewater’s revenue increased by 33% compared to 2023, reaching $1.35 billion, while net income nearly doubled to $180.7 million. The company also saw a rise in adjusted EBITDA to $559.6 million from $386.7 million in 2023.
Looking forward, Tidewater has set a revenue guidance range of $1.32 billion to $1.38 billion for 2025, with expectations of revenue being more weighted towards the latter half of the year. The company predicts a gross margin between 48% and 50%, despite a muted outlook for offshore drilling in 2025. Analysts have noted that Tidewater anticipates a market improvement in 2026-2027. The company remains optimistic about long-term market fundamentals and continues to focus on capital allocation strategies, including share repurchases and potential acquisitions.
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