UPDATE: Tidewater Posts Surge In Q4 Profit
Tidewater Inc (NYSE: TDW) reported a strong rise in its fourth-quarter profit.
Tidewater's quarterly profit surged to $33.6 million, or $0.66 per share, versus $12 million, or $0.23 per share, in the year-earlier period. Its revenue rose to $289.4 million from $254 million.
Analysts were expecting earnings of $0.60 per share on revenue of $284.8 million.
Tidewater shares closed at $45.39 on Friday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.