Tidewater has posted a jump in profits for the seasonally quiet first quarter that beat its own expectations.
The Houston company, which owns one of the world’s largest offshore vessel fleets, reported net income of $47m for the first three months of the year, a $9.4m improvement compared to the same period of 2023.
Revenue at the company, which expanded through the acquisition of 37 platform supply vessels from Solstad Offshore last year, jumped to more than $321m from just $193m a year earlier.
