Tidewater Inc. Announces Increase In Q2 Income, Beats Estimates

(RTTNews) - Tidewater Inc. (TDW) reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $50.4 million, or $0.94 per share. This compares with $22.6 million, or $0.43 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 57.8% to $339.230 million from $214.961 million last year.

Tidewater Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $50.4 Mln. vs. $22.6 Mln. last year. -EPS (Q2): $0.94 vs. $0.43 last year. -Revenue (Q2): $339.230 Mln vs. $214.961 Mln last year.

-Guidance: Full year revenue guidance: $1.39 to $1.41 Bln