TDW at a glance
TIDEWATER INC (TDW, SEC CIK 98222) filed its latest 10-K annual report on March 2, 2026, a 10-Q quarterly report on August 3, 2026, an 8-K current report on October 5, 2026 and Form 4 insider filings as recently as September 18, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), TIDEWATER INC (TDW) reported revenue of $1.4 billion (up 0.5% from FY2024) and net income of $334.7 million. Diluted EPS was $6.64.
- As of June 30, 2026, 30 institutional investment managers tracked by SignalX reported holding TIDEWATER INC (TDW) shares worth $1.7 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by ROBOTTI ROBERT on September 16, 2026 of 3,605 shares at $89.85 per share.
- In the last 90 days, TDW insiders reported 0 open-market purchases ($0) and 6 open-market sales ($5.5M) on Form 4, a net sale of $5.5M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $1.4B
- +0.5% vs prior year
- Insiders · 90 days
- 0 buys · 6 sells
- Net −$5.5M
- 13F holders
- 30 funds
- $1.7B · +0 vs prior quarter
- Latest 8-K
- Sep 25, 2026
- Item 2.03 · Item 1.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Global provider of offshore service vessels (OSVs) to support oil, gas, and windfarm offshore operations with a diverse fleet of 208 vessels in 30+ countries
- New emphasis: Acquisition agreements in 2023-2026 adding 59 vessels total, including 22 PSVs in Brazil for $500M and 37 PSVs from Solstad for $594.2M
- Strategic shift: Increased fleet size and geographic coverage, especially in Brazil and North Sea/Australia regions, enhancing position in deepwater and windfarm support
- Quantitative highlight: Fleet grew to 208 vessels as of Dec 31, 2025; 2025 share repurchases of 2.29 million shares for $90M; 2025 issuance of $650M 9.125% senior notes replacing prior debt
- Noteworthy fact: Tidewater operates under complex international maritime regulations including SOLAS, MARPOL, with ISO 14001 certification for environmental management at multiple locations
Risk Factors
- Regulatory risk: pending approval by Brazilian antitrust authority for Wilson Companies acquisition impacting transaction completion
- Geopolitical risk: exposure to piracy, war, terrorist attacks, especially in US Gulf, Caribbean, North Sea, Asia Pacific operations
- Operational risk: severe weather events linked to climate change causing vessel/facility damage and operational disruptions
- Competitive risk: customer shifts capital to renewable energy reducing demand for offshore oil and gas support services
- Financial risk: top ten customers generate significant revenues, risking concentration from contract termination or nonrenewal
Management Discussion & Analysis
- Revenue $1,352.8M, up 1% YoY (+$7.0M) driven by higher average day rates ($22,573 vs $21,273) offset by lower utilization (76.1% vs 79.0%)
- Operating margin approx. 20.9% (operating profit = revenue $1,352.8M - vessel operating costs $680.6M - other expenses) relatively stable with cost reductions partially offset by higher G&A (+21%) and depreciation (+8%)
- Best segment: West Africa revenue $362.8M (down 5%), but highest vessel operating profit $138.7M (down 21%); Worst segment: Asia Pacific revenue $189.7M (down 10%), vessel operating profit $53.2M (down 11%)
- Cash from Series A/B warrant exercises: $111.5M; Capex includes $594.2M Solstad acquisition, $500M Wilson Companies pending acquisition; Debt refinancing with $650M senior notes; no draws on $250M revolver
- Management cautious on 2026, noting medium-term offshore investment momentum but risks include oil prices in low $60s delaying projects and geopolitical/oil market volatility impacting demand and pricing
AI summary of the TDW 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- No quarterly revenue, YoY comparison, profitability, segment, cash-flow, or capital-deployment figures provided
- Forward-looking risks: acquisition completion, energy demand, oil prices, tariffs, inflation, interest rates, conflicts, and industry overcapacity
- Near-term outlook: no updated guidance or specific management forecast disclosed in provided text
Risk Factors
- Risk factors section not provided in submitted excerpt
- No newly added or materially updated risk identifiable
- Share-repurchase authorization: $500.0 million approved August 1, 2025
- Repurchase execution risk: no shares purchased under the August 1, 2025 authorization
- Regulatory disclosure risk: 10-Q certifications filed under Sarbanes-Oxley Sections 302 and 906
AI summary of the TDW 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.03: Creation of a Direct Financial Obligation
- Item 2.03 indicates a potential new direct financial obligation or off-balance-sheet obligation
Item 1.01: Entry into a Material Definitive Agreement
- Tidewater guarantees full, timely payment of subsidiary Tidewater do Brasil’s BNDES construction-loan obligations
- Guarantee is unsecured and pari passu with Tidewater’s other unsecured, unsubordinated debt
Item 1.01: Entry into a Material Definitive Agreement
- Amended SPA enables transaction closing before replacement of BNDES parent guarantees, with closing targeted for August 31, 2026
- Tidewater must replace or repay specified BNDES loans and release Sellers from guarantees by December 31, 2026
Item 2.03: Creation of a Direct Financial Obligation
- TDW assumes guarantee on $22.5M Banco do Brasil loan at 3.10%, maturing December 2030
- BNDES Construction Loans total $170.1M, with $2.3M monthly amortization and maturities through December 2035
Item 7.01: Regulation FD Disclosure
- Forward-looking disclosure centers on replacing the guarantor for BNDES Construction Loans
- Transaction expected to generate cash flow and strengthen customer relationships
Item 2.01: Completion of Acquisition or Disposition of Assets
- Acquisition completed for aggregate purchase price of $500 million on a debt-free, cash-free basis
- Tidewater paid approximately $283.1 million cash at closing
Item EX-99.1: Item EX-99.1
- WSUT acquisition completed August 31, 2026, adding Wilson Sons Ultratug and Atlantic Offshore Services
- Acquired fleet includes 22 platform supply vessels, expanding Tidewater’s offshore-support-vessel scale
AI summaries of TDW 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for TDW
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- Fund moves. Which tracked funds opened, added or cut TDW, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| ROBOTTI ROBERT | J | Sep 16, 2026 | 1,951 | - |
| ROBOTTI ROBERT | G | Sep 16, 2026 | 1,951 | - |
| ROBOTTI ROBERT | Sell | Sep 16, 2026 | 3,605 | $89.85 |
| ROBOTTI ROBERT | Sell | Sep 16, 2026 | 6,695 | $89.85 |
| Hudson Daniel A. | Sell | Sep 2, 2026 | 15,000 | $99.08 |
| Traub Kenneth | Sell | Sep 2, 2026 | 10,000 | $99.00 |
| Hudson Daniel A. | G | Aug 20, 2026 | 200 | - |
| Rubio Samuel R | Sell | Aug 12, 2026 | 17,705 | $91.56 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $1.3B | $1.4B |
| Operating Income | $182.2M | $311.3M | $282.6M |
| Net Income | $97.2M | $180.7M | $334.7M |
| Op. Margin | - | 23.1% | 20.9% |
| Net Margin | - | 13.4% | 24.7% |
| Balance Sheet | |||
| Total Assets | $2.1B | $2.1B | $2.4B |
| Equity | - | $1.1B | $1.4B |
| ROE | - | 16.2% | 24.5% |
| Per Share | |||
| EPS | $1.84 | $3.40 | $6.64 |
| Cash Flow | |||
| Operating CF | - | $273.8M | $379.1M |
| CapEx | - | $27.6M | $25.8M |
Source: XBRL data in TIDEWATER INC (TDW)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate TDW share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 30 | $1.74B |
| Q1 2026 | 30 | $1.93B |
| Q4 2025 | 29 | $1.22B |
| Q3 2025 | 30 | $1.34B |
| Q2 2025 | 29 | $1.16B |
| Q1 2025 | 26 | $631.3M |
| Q4 2024 | 21 | $814.6M |
| Q3 2024 | 17 | $485.2M |
- Citadel Advisors LLC+1.01M (+415%)
- T. Rowe Price Group+476.3K (+15%)
- BlackRock+307.4K (+4%)
- Millennium Management+296.4K (+1192%)
- Morgan Stanley+294.3K (+52%)
- Ameriprise Financial−182.8K (-46%)
- JPMorgan Chase & Co−75.3K (-63%)
- Invesco Ltd−35.4K (-11%)
- Raymond James Financial−20.2K (-6%)
- Prudential Financial−6.8K (-10%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 212 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
TDW filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Oct 5, 2026 | - | - | - |
| 8-K | Sep 25, 2026 | - | Analysis | - |
| 4 | Sep 18, 2026 | - | - | - |
| 4 | Sep 17, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 8-K | Aug 31, 2026 | - | Analysis | - |
| 4 | Aug 20, 2026 | - | - | - |
| 4 | Aug 14, 2026 | - | - | - |
| 4 | Aug 11, 2026 | - | - | - |
| 8-K | Aug 3, 2026 | - | Analysis | - |
| 10-Q | Aug 3, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Jul 6, 2026 | - | Analysis | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 8-K | Jun 18, 2026 | - | Analysis | - |
| 4 | Jun 12, 2026 | - | - | - |
| 8-K | May 4, 2026 | - | Analysis | - |
| 10-Q | May 4, 2026 | Mar 31, 2026 | Analysis | |
| SC 13G | Apr 29, 2026 | - | - | |
| 4 | Apr 2, 2026 | - | - | - |
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TDW SEC filings: frequently asked questions
Are TDW insiders buying or selling?
In the last 90 days, TIDEWATER INC (TDW) officers, directors and 10% owners reported no open-market purchases and 6 open-market sales worth $5.5 million by 4 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold TDW stock?
As of June 30, 2026, the largest TIDEWATER INC (TDW) holders among the 13F filers tracked by SignalX were BlackRock ($503.2 million), T. Rowe Price Group ($245.4 million), Vanguard Portfolio Management LLC ($184.0 million), Dimensional Fund Advisors ($138.7 million), State Street Corp ($135.3 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was TDW's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), TIDEWATER INC (TDW) reported revenue of $1.4 billion (up 0.5% from FY2024) and net income of $334.7 million. Diluted EPS was $6.64. The figures come from the XBRL data in the 10-K.
What are the main risks in TDW's latest 10-K?
In the 10-K filed March 2, 2026, TIDEWATER INC (TDW) flagged: Regulatory risk: pending approval by Brazilian antitrust authority for Wilson Companies acquisition impacting transaction completion. Geopolitical risk: exposure to piracy, war, terrorist attacks, especially in US Gulf, Caribbean, North Sea, Asia Pacific operations. (AI summary of the Risk Factors section.)
What did TDW report in its latest 8-K?
TIDEWATER INC (TDW) filed an 8-K on September 25, 2026 reporting Item 2.03 (Creation of a Direct Financial Obligation) and Item 1.01 (Entry into a Material Definitive Agreement). Item 2.03 indicates a potential new direct financial obligation or off-balance-sheet obligation.
What are the latest TDW SEC filings?
TIDEWATER INC (TDW) filed its latest 10-K annual report on March 2, 2026, a 10-Q quarterly report on August 3, 2026, an 8-K current report on October 5, 2026 and a Form 4 insider filing on September 18, 2026.
What is TDW's SEC CIK number?
TIDEWATER INC (TDW)'s SEC Central Index Key (CIK) is 98222. EDGAR lists every TDW filing under that number.
Ask anything about TDW
The research agent reads TDW's filings, financials, insider trades and 13F holders, then answers with sources.