Will Tidewater’s Fiscal 3Q17 Earnings Disappoint?



Tidewater’s earnings versus estimates

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

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Tidewater’s fiscal 3Q17 earnings estimates

In fiscal 3Q17, analysts expect $1.16 adjusted loss per share for Tidewater (TDW). Wall Street analysts expect Tidewater’s adjusted loss to deteriorate in the coming quarter from the adjusted loss of $1.01 per share in fiscal 2Q17. Offshore project delays and rig stacking led by low crude oil prices can deteriorate Tidewater’s fiscal 3Q17 results. Tidewater’s fiscal 3Q17 earnings will be released on February 8.

Earlier, the falling rig count sent Tidewater’s fiscal 2Q16 adjusted earnings crashing to a loss of $0.02 per share. From fiscal 2Q16 through 2Q17, the adjusted loss fell more. It reflected a depressed energy market environment. Tidewater is 0.03% of the iShares S&P Small-Cap 600 Value ETF (IJS).

What do analysts expect for Tidewater’s peers?

In comparison, Oceaneering International’s (OII) 4Q16 estimated loss is expected to fall sharply compared to its 3Q16 adjusted earnings. Oil States International’s (OIS) 4Q16 adjusted loss is also expected to fall in 4Q16 compared to 3Q16. Wall Street analysts expect Weatherford International’s (WFT) 4Q16 adjusted loss to improve compared to 3Q16.

Next, we’ll discuss Wall Street analysts’ recommendations for Tidewater.


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