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What Do Analysts Expect from Tidewater’s Fiscal 3Q17 Earnings?

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Tidewater’s fiscal 3Q17 earnings estimates

In fiscal 3Q17, analysts expect an ~$1.16 adjusted loss per share for Tidewater (TDW). Wall Street analysts expect Tidewater’s adjusted loss to deteriorate in the coming quarter from an adjusted loss of $1.01 per share in fiscal 2Q17. Offshore project delays and rig stacking led by low crude oil prices could deteriorate Tidewater’s fiscal 3Q17 results. On January 27, Tidewater’s debt covenant extension will end. It weighed down Tidewater stock. Read Is Tidewater in Danger of a Default? to learn more. Tidewater’s fiscal 3Q17 earnings might be released in the first week of February.

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Earlier, the falling rig count sent Tidewater’s fiscal 2Q16 adjusted earnings crashing to a $0.02 per share loss. From fiscal 2Q16 through 2Q17, the adjusted loss fell more. It reflected the depressed energy market environment. Tidewater accounts for 0.04% of the iShares S&P Small-Cap 600 Value ETF (IJS).

Tidewater’ earnings versus estimates

In fiscal 2Q17, Tidewater’s adjusted loss beat analysts’ consensus estimates. As noted in the above graph, Tidewater’ adjusted EPS (earnings per share) exceeded estimates in many quarters in the past. On average, the adjusted EPS beat the consensus EPS by ~9% in the past 13 quarters.

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What do analysts expect for Tidewater’s peers?

In comparison, Weatherford International’s (WFT) 4Q16 estimated loss is expected to improve over its 3Q16 adjusted earnings. Wall Street analysts expect Patterson-UTI Energy’s (PTEN) 4Q16 adjusted loss to rise 3% compared to 3Q16. Oil States International’s (OIS) 4Q16 adjusted loss is also expected to fall in 4Q16 compared to 3Q16. Read Wall Street Picks: The Best and Worst Oilfield Service Stocks to learn more about Wall Street analysts’ estimates on oilfield services companies.

What’s in this series?

In this series, we’ll discuss Tidewater’s value drivers, industry indicators impacting Tidewater’s performance, and analysts’ target prices for Tidewater. Next, we’ll discuss how Tidewater’s financial performance transpired in past quarters.

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