Tidewater Inc. Announces Rise In Q1 Profit, Beats estimates

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

The company's earnings totaled $47.03 million, or $0.89 per share. This compares with $10.74 million, or $0.21 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 66.3% to $321.16 million from $193.10 million last year.

Tidewater Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $47.03 Mln. vs. $10.74 Mln. last year. -EPS (Q1): $0.89 vs. $0.21 last year. -Revenue (Q1): $321.16 Mln vs. $193.10 Mln last year.