Despite posting another loss, Tidewater is trumpeting its best quarterly performance since emerging from bankruptcy in 2017.
The Houston offshore giant reported a $39.7m loss — or $35.3m when impairment charges, affiliate credit losses, guaranteed obligations, inventory obsolescence and severance are stripped out — but said the $30m in free cash flow was the best in three years.
The loss was also narrower than the same quarter last year, when Tidewater posted a $44.2m
