Tidewater Inc. reported revenue of $341.1 million for the third quarter of 2025, a 0.2% increase compared to the same period in 2024. Net loss for the quarter was $0.8 million, while adjusted EBITDA reached $137.9 million. The company attributed a $27.1 million loss on early extinguishment of debt to its July 2025 refinancing. For the nine months ended September 30, 2025, revenue totaled $1,016.0 million, compared to $1,000.8 million for the same period in 2024. Net income for the nine months was $114.8 million, down from $143.8 million a year earlier. Tidewater updated its 2025 revenue guidance to $1.33 to $1.35 billion with a gross margin forecast of 49% to 50%, and introduced 2026 revenue guidance of $1.32 to $1.37 billion with gross margin guidance of 48% to 50%. The company reported $72.1 million in net cash provided by operating activities and $82.7 million in free cash flow for the quarter. A share repurchase program authorization of $500 million remains outstanding.