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TDW on NYSE

Tidewater

Logo: tdw.com5

American marine services corporation

Tidewater, Inc. is a publicly traded international petroleum service company headquartered in Houston, Texas, U.S. It operates a fleet of ships, primarily providing vessels and marine services to the offshore petroleum and offshore wind industries. The company was founded in 1956 by a group of investors led by the Laborde family.3 It employed 4,513 people in 2020.1 Its revenue was $397 million in 2020.1 Its shares trade on NYSE under the symbol TDW.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1956Founded1

Compare with Hornbeck Offshore Services, TEEKAY TANKERS LTD. or International Seaways, Inc., or pick any stock.

  • TickerTDW on NYSE1
  • Industrywater transport1
  • HeadquartersHouston1
  • Websitewww.tdw.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address842 West Sam Houston Parkway North, Suite 400, Houston, Tx 770246
  • Filer categoryLarge accelerated filer6
  • LEI2549000JA5GRUPLMUH984
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O Capitol Services, Inc., 19901 Dover, United States4
  • Registered withDivision of Corporations, Department of State, 4969084

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Garza Tide107
Photo: Ciacho5, CC BY-SA 4.0, via Wikimedia Commons7

Tidewater, Inc. is a publicly traded international petroleum service company headquartered in Houston, Texas, U.S. It operates a fleet of ships, primarily providing vessels and marine services to the offshore petroleum and offshore wind industries.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

20.9%Operating margin8
24.7%Net margin8
0.5%Revenue growth, 20258
24.5%Return on equity8
0.48×Debt to equity8
$353.3MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Vessel brought in 99% of the revenue Tidewater broke down this way in fiscal 2025.

  1. Vessel$1.3B899%up 0% from 2024
  2. Product and Service, Other$13.9M81%up 69% from 2024
Products and services by year
Products and services202320242025
Vessel$999.0M$1.3B$1.3B
Product and Service, Other$11.0M$8.2M$13.9M

Regions

Other Countries brought in 45% of the revenue Tidewater broke down this way in fiscal 2025.

  1. Other Countries$613.6M845%up 2% from 2024
  2. AO$155.8M812%up 8% from 2024
  3. United Kingdoms$149.0M811%up 1% from 2024
  4. SA$133.8M810%up 3% from 2024
  5. NO$117.4M89%up 5% from 2024
  6. AUMember$108.5M88%down 17% from 2024
  7. United States$74.6M86%down 9% from 2024
Regions by year
Regions20242025
Other Countries$600.3M$613.6M
AO$144.6M$155.8M
United Kingdoms$147.2M$149.0M
SA$129.3M$133.8M
NO$112.2M$117.4M
AUMember$130.8M$108.5M
United States$81.5M$74.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs67¢$904.9M
  • Income tax8¢$113.2M
  • Profit25¢$334.7M

Out of $1.4B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Capital spending7¢$25.8M
  • Share buybacks24¢$90.1M
  • Kept or used elsewhere69¢$263.3M

Out of $379.1M of cash from operations.8

Financial statements

Revenue91011128$1.4B in 2025+178% since 2019
0$500.0M$1.0B$1.5B2019: $486.5M$486.5M20192020: $397.0M$397.0M2020−18%2021: $371.0M$371.0M2021−7%2022: $647.7M$647.7M2022+75%2023: $1.0B$1.0B2023+56%2024: $1.3B$1.3B2024+33%2025: $1.4B$1.4B2025+1%
Gross profit13-$29.7M in 2020
-$30.0M-$20.0M-$10.0M0$10.0M2019: $6.9M$6.9M20192020: -$29.7M-$29.7M2020
Operating income91011128$282.6M in 2025
-$200.0M0$200.0M$400.0M2019: -$86.6M-$86.6M20192020: -$186.8M-$186.8M2020+116%2021: -$95.0M-$95.0M2021−49%2022: $26.7M$26.7M20222023: $182.2M$182.2M2023+582%2024: $311.3M$311.3M2024+71%2025: $282.6M$282.6M2025−9%
Net income91011128$334.7M in 2025
-$200.0M0$200.0M$400.0M2019: -$141.7M-$141.7M20192020: -$196.2M-$196.2M2020+38%2021: -$129.0M-$129.0M2021−34%2022: -$21.7M-$21.7M2022−83%2023: $97.2M$97.2M20232024: $180.7M$180.7M2024+86%2025: $334.7M$334.7M2025+85%

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Revenue$1.4B$1.3B$1.0B
Vessel operating costs$680.6M$693.1M$556.5M
Costs of other operating revenues$6.4M$3.6M$4.3M
General and Administrative Expense$134.5M$110.8M$95.3M
Depreciation and amortization$262.3M$242.8M$180.3M
Gain on asset dispositions, net-$13.7M-$15.8M-$8.7M
Total costs and expenses$1.1B$1.0B$827.8M
Operating income$282.6M$311.3M$182.2M
Foreign exchange gain (loss)$22.7M-$15.3M-$1.4M
Equity in net earnings of unconsolidated companies$0$0$39.0K
Interest income and other, net$8.2M$6.4M$6.5M
Loss on early extinguishment of debt-$27.1M$0$0
Interest and other debt costs, net-$66.1M-$73.0M-$48.5M
Total other expense-$62.4M-$81.9M-$43.3M
Income before income taxes$220.2M$229.5M$138.9M
Income tax expense (benefit)-$113.2M$50.2M$43.3M
Net income$333.5M$179.3M$95.6M
Less: Net losses attributable to noncontrolling interests-$1.2M-$1.4M-$1.6M
Net income attributable to Tidewater Inc.$334.7M$180.7M$97.2M
Basic income per common share (in dollars per share)$6.69$3.44$1.88
Diluted income per common share (in dollars per share)$6.64$3.40$1.84
Weighted average common shares outstanding (in shares)50.1M shares52.5M shares51.6M shares
Dilutive effect of warrants, restricted stock units and stock options (in shares)379.0K shares619.0K shares1.3M shares
Adjusted weighted average common shares (in shares)50.4M shares53.1M shares52.9M shares

Compare Tidewater with another company

Corporate structure

Tidewater sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Tidewater

  • Tidewater Houston, Texas, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Tidewater reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Machinery and equipment$1.8B8 Dec 31, 2025$1.7B8 Dec 31, 2024+1.4%
Property and equipment, before depreciation$1.8B8 Dec 31, 2025$1.8B8 Dec 31, 2024+1.6%
Accumulated depreciation$712.4M8 Dec 31, 2025$571.9M8 Dec 31, 2024+24.6%
Property and equipment, net$1.1B8 Dec 31, 2025$1.2B8 Dec 31, 2024−9.5%
Finance-lease assets$24.1M8 Dec 31, 2025$08 Dec 31, 2024
Operating-lease assets (leased space)$7.5M8 Dec 31, 2025$11.2M8 Dec 31, 2024−32.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$578.8M8 Dec 31, 2025$324.9M8 Dec 31, 2024+78.1%

Properties, in its own words

Our worldwide headquarters and principal executive offices are located at 842 West Sam Houston Parkway North, Suite 400, Houston, Texas 77024, and our telephone number is 713-470-5300. Our U.S. marine operations are based in Amelia, Louisiana and Houston, Texas. We conduct our international operations through facilities and offices located in over 30 countries. Our principal international offices and/or warehouse facilities, most of which are leased, are in Brazil; Mexico; Trinidad; Scotland; Egypt; Angola; Namibia; Cameroon; Singapore; Kingdom of Saudi Arabia; Dubai, United Arab Emirates; Australia; and Norway. Our operations generally do not require highly specialized facilities, and suitable facilities are generally available on a leased basis.

Vessels

The rest of Item 2

At December 31, 2025, we owned 208 vessels. See “Item 1. Business - Vessel Classifications” for additional information.

Item 2 of the 10-K filed Mar 2, 2026.16

Leadership

Who has led Tidewater, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Dean E. Taylor2003–2012
  2. Jeffrey Platt2012–2017
  3. Larry T. Rigdon2017–2018
  4. John T. Rynd2018–2019
  5. Quintin Kneen2019–now

Chair

  1. Dean E. Taylor2003–2007

President

  1. Dean E. Taylor2003–2012
  2. Jeffrey Platt2012–2017
  3. Larry T. Rigdon2017–2018
  4. John T. Rynd2018–2019
  5. Quintin Kneen2019–now

Chief financial officer

  1. J. Keith Lousteau2004–2008
  2. Quinn P. Fanning2012–2018
  3. Quintin Kneen2018–2020
  4. Samuel R. Rubio2021–now

Chief operating officer

  1. Jeffrey Platt2010–2012
  2. Jeffrey A. Gorski2012–2019
  3. Piers Dayer Middleton2026–now
197019801990200020102020
Board members and other officers (47)

Employees over time

  • 20204,5131

Timeline

  1. Oct 5, 20268-K Entered a material agreement; New debt or obligation73
  2. Sep 25, 20268-K Entered a material agreement; New debt or obligation74
  3. Aug 31, 20268-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation75
  4. Aug 3, 20268-K Results of operations76
  5. Jul 6, 20268-K Other events77
  6. Jun 18, 20268-K Executive or director change; Shareholder vote78
  7. May 4, 20268-K Results of operations79
  8. Mar 19, 20268-K Executive or director change80
  9. Mar 2, 20268-K Results of operations81
  10. Feb 24, 20268-K Entered a material agreement; Regulation FD disclosure82
  11. Nov 10, 20258-K Results of operations83
  12. Aug 4, 20258-K Results of operations; Other events84
  13. Nov 18, 2019New chief executive Quintin Kneen becomes CEO17
  14. Mar 6, 2018New chief executive John T. Rynd becomes CEO18
  15. Oct 17, 2017New chief executive Larry T. Rigdon becomes CEO19
  16. Aug 1, 2017Went public Listed on NYSE1
  17. Jun 1, 2012New chief executive Jeffrey Platt becomes CEO20
  18. Dec 3, 2003New chief executive Dean E. Taylor becomes CEO21
  19. 1956Founded Founded1

Calendar

Coming up

  1. Nov 9, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.53 a share, on Nov 10, 2025.85

When it reported results

  1. Aug 3, 2026Reported quarterly or annual results76
  2. May 4, 2026Reported quarterly or annual results79
  3. Mar 2, 2026Reported quarterly or annual results81
  4. Nov 10, 2025Reported quarterly or annual results83
  5. Aug 4, 2025Reported quarterly or annual results84
  6. May 5, 2025Reported quarterly or annual results86
  7. Feb 27, 2025Reported quarterly or annual results87
  8. Nov 7, 2024Reported quarterly or annual results88

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

382 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 60 major events, 204 insider forms, 38 large holders, 60 other. The latest 20:

  1. Oct 5, 20268-K EDGAR
  2. Sep 25, 20268-K EDGAR
  3. Sep 18, 20264/A PRIMARY DOCUMENT EDGAR
  4. Sep 17, 20264 PRIMARY DOCUMENT EDGAR
  5. Sep 16, 2026144 EDGAR
  6. Sep 3, 20264 EDGAR
  7. Sep 3, 20264 EDGAR
  8. Sep 2, 2026144 EDGAR
  9. Sep 1, 2026144 EDGAR
  10. Aug 31, 20268-K EDGAR
  11. Aug 20, 20264 EDGAR
  12. Aug 14, 20264 EDGAR
  13. Aug 12, 2026144 EDGAR
  14. Aug 11, 2026144 EDGAR
  15. Aug 11, 20264 EDGAR
  16. Aug 11, 2026S-3ASR EDGAR
  17. Aug 3, 20268-K EDGAR
  18. Aug 3, 202610-Q EDGAR
  19. Jul 22, 2026144 EDGAR
  20. Jul 6, 20268-K EDGAR

The 382 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

77 open-market trades by officers, directors and large owners since October 2021: 37 buys and 40 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 16, 2026ROBOTTI ROBERTDirectorSale10,300$89.85$925.4KForm 4
Sep 16, 2026ROBOTTI ROBERTDirectorSale10,300$89.85$925.4KForm 4
Sep 2, 2026Hudson Daniel A.EVP, CLO & Corporate SecretarySale15,000$99.08$1.5MForm 4
Sep 2, 2026Traub KennethDirectorSale10,000$99.00$990.0KForm 4
Aug 12, 2026Rubio Samuel REVP, CFO & CAOSale17,705$91.56$1.6MForm 4
Aug 10, 2026Hudson Daniel A.EVP, CLO & Corporate SecretarySale5,000$89.01$445.1KForm 4
Mar 5, 2026Hudson Daniel A.EVP, CLO & Corporate SecretarySale5,195$80.56$418.5KForm 4
Mar 5, 2026Rubio Samuel REVP, CFO & CAOSale22,461$80.05$1.8MForm 4
Feb 23, 2026Hudson Daniel A.EVP, CLO & Corporate SecretarySale15,000$77.50$1.2MForm 4
Feb 11, 2026Hudson Daniel A.EVP, CLO & Corporate SecretarySale10,000$70.01$700.1KForm 4
Aug 5, 2025Hudson Daniel A.EVP, CLO & Corporate SecretarySale10,000$57.56$575.6KForm 4
Jul 8, 2025Hudson Daniel A.EVP, CLO & Corporate SecretarySale5,000$50.02$250.1KForm 4
Jun 4, 2025ROBOTTI ROBERTDirectorBuy15,000$42.05$630.8KForm 4
Jun 3, 2025ROBOTTI ROBERTDirectorBuy10,000$42.14$421.4KForm 4
May 30, 2025ROBOTTI ROBERTDirectorBuy560$40.55$22.7KForm 4
Mar 13, 2025ROBOTTI ROBERTDirectorBuy25,000$40.11$1.0MForm 4
Mar 5, 2025ROBOTTI ROBERTDirectorBuy1,770$40.95$72.5KForm 4
Dec 17, 2024ROBOTTI ROBERTDirectorBuy2,067$48.26$99.8KForm 4
Dec 16, 2024ROBOTTI ROBERTDirectorBuy4,000$47.47$189.9KForm 4
Dec 13, 2024Kneen QuintinDIRECTOR, PRESIDENT & CEOBuy41,615$48.06$2.0MForm 4

All 77 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Quintin V. KneenPresident, Chief Executive Officer, and Director60$750.0K$5.7M100
2025David E. DarlingSenior Advisor (Former Executive Vice President and Chief Operating Officer)$255.0K$3.2M100
2025Samuel R. RubioExecutive Vice President, Chief Financial Officer, and Chief Accounting Officer$430.0K$2.0M100
2025Daniel A. HudsonExecutive Vice President, Chief Legal Officer, and Secretary$353.8K$1.8M100
2025Piers D. MiddletonExecutive Vice President and Chief Operating Officer$415.0K$1.6M100
2024Quintin V. KneenPresident, Chief Executive Officer, and Director60$750.0K$5.9M100
2024David E. DarlingSenior Advisor (Former Executive Vice President and Chief Operating Officer)$450.0K$2.4M100
2024Piers D. MiddletonExecutive Vice President and Chief Operating Officer$398.8K$2.1M100
2024Samuel R. RubioExecutive Vice President, Chief Financial Officer, and Chief Accounting Officer$400.0K$2.0M100
2024Daniel A. HudsonExecutive Vice President, Chief Legal Officer, and Secretary$330.0K$1.7M100
2023Quintin V. KneenPresident, Chief Executive Officer, and Director60$712.5K$5.0M100
2023David E. DarlingSenior Advisor (Former Executive Vice President and Chief Operating Officer)$431.2K$1.9M100
2023Samuel R. RubioExecutive Vice President, Chief Financial Officer, and Chief Accounting Officer$387.5K$1.9M100
2023Daniel A. HudsonExecutive Vice President, Chief Legal Officer, and Secretary$315.0K$1.6M100

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.7,552,159$503.2M0.0%+307,421
Robotti Robert2,906,380$193.7M31.3%−14,309
Neuberger Berman Group LLC2,803,406$186.8M0.1%−467,965
Vanguard Portfolio Management LLC2,762,204$184.0M0.0%+135,559
Dimensional Fund Advisors LP2,081,880$138.7M0.0%+243,111
State Street Corp2,030,982$135.3M0.0%+82,557
Vanguard Capital Management LLC1,953,287$130.1M0.0%+10,416
Baillie Gifford & Co1,670,774$111.3M0.1%+1,015,381
American Century Companies Inc1,617,736$107.8M0.0%+282,494
Wellington Management Group Llp1,475,804$98.3M0.0%+147,189
Sourcerock Group LLC1,404,984$93.6M4.9%+981,471
Geode Capital Management, LLC1,345,522$89.7M0.0%+203,878
Citadel Advisors LLC1,248,280$83.2M0.0%+1,005,909
UBS Group AG1,055,775$70.3M0.0%−455,615
Third Avenue Management LLC934,121$62.2M10.0%+12,940
Frontier Capital Management Co LLC894,796$59.6M0.6%−177,997
Morgan Stanley857,870$57.2M0.0%+294,320
Van Eck Associates Corp764,490$50.9M0.0%−97,291
Fort Washington Investment Advisors Inc /oh/683,705$45.6M0.2%+283,285
Hosking Partners LLP609,611$40.6M1.4%−52,811
Driehaus Capital Management LLC558,352$37.2M0.2%−200,184
Charles Schwab Investment Management Inc546,128$36.4M0.0%−15,358
Goldman Sachs Group Inc537,393$35.8M0.0%+158,232
Cerity Partners LLC535,392$35.7M0.0%−7,217
Northern Trust Corp492,632$32.8M0.0%+7,659

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Tidewater is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTIDEWATER INC2
  • CIK0000098222
  • Employer ID (EIN)72-048777616
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company16
  • Incorporated inDelaware16
  • Fiscal year endsDecember 312
  • Industry code (SIC)4400 Water Transportation2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business address842 West Sam Houston Parkway North, Suite 400, Houston, TX 770242
  • Phone(713) 470-53002
  • Shares outstanding49,756,231 as of Jul 31, 202615
  • Public float$2.1B as of Jun 30, 202516
  • AuditorPricewaterhouseCoopers LLP, Houston, Texas PCAOB ID 238; it also attests to the company’s internal control over financial reporting16
  • On EDGAR sinceJan 26, 19942
  • Filings2,269 in all: 4 (944), 8-K (732), SC 13G/A (100), 10-Q (98), SC 13G (47), 3 (37), 144 (34), DEF 14A (32)2
    All 53 form types

    10-K (26), SC 13D/A (24), 4/A (19), 425 (15), DEFA14A (15), UPLOAD (15), CORRESP (14), 424B3 (11), S-8 (10), ARS (8), 8-K/A (7), S-8 POS (7), 10-K405 (6), 424B5 (5), EFFECT (5), SC 13D (5), SCHEDULE 13G/A (5), 8-A12B (4), S-3ASR (4), NO ACT (3), POS AM (3), SCHEDULE 13G (3), 10-K/A (2), 25-NSE (2), 3/A (2), 5 (2), CERT (2), S-1/A (2), S-4 (2), S-4/A (2), 10-KT (1), 15-12G (1), 15-12G/A (1), 25 (1), 25/A (1), 424B1 (1), 8-A12B/A (1), CERTNYS (1), DFAN14A (1), PRE 14A (1), S-1 (1), S-3 (1), SCHEDULE 13D (1), T-3 (1), T-3/A (1)

  • Latest filingsAnnual report (10-K) Mar 2, 2026
    Quarterly report (10-Q) Aug 3, 2026
    Proxy statement (DEF 14A) Apr 28, 2026
    Latest 8-K (8-K) Oct 5, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.001 par value per shareTDWNew York Stock Exchange

From the cover page of the 10-K filed Mar 2, 2026 (Section 12(b) of the Exchange Act).16

Risk factors and legal proceedings

The risks Tidewater names in Item 1A of its 10-K filed Mar 2, 2026: 41 risks under these headings, as written.16

  • Risks Relating to Our Business and Industry
  • Risks Relating to Our International and Foreign Operations
  • Risks Relating to Our Human Capital
  • Risks Relating to Our Indebtedness
  • Risks Relating to Governmental Regulation
  • Risks Relating to Information Technology and Cybersecurity
  • Risks Relating to Our Securities
  • General Risks Factor
  • Demand for our services is substantially dependent on the level of capital spending by our customers. Downturns in the oil and gas industry have often resulted in lower expenditures by our customers and reduced demand for our services, which in the past has, and in the future may have, material adverse effects on our financial condition, results of operations and cash flows.
  • A rise in production of oil and gas resources could increase supply without a commensurate growth in demand which could negatively impact oil and gas prices.
  • Factors associated with climate change and sustainability matters, including evolving regulations, varied and expansive scope of standards, rating criteria, our sustainability disclosures, and the perception and expectations of the public and our stakeholders could adversely affect our business, reputation, results of operations and financial position.
  • At certain locations where we operate, severe weather events, including conditions believed to be associated with climate change, have in the past and may in the future adversely affect our operations and financial results.
The other 37 risks
  • Failure to effectively and timely address the energy transition could adversely affect our business, results of operations and cash flows.
  • As we implement our business strategy, we face risks associated with identifying acquisition targets, integrating any acquisitions or mergers and growing the business from the acquisition, and our ability to finance any such acquisitions.
  • The foregoing risks apply to the timing, completion and anticipated benefits of the proposed acquisition of the Wilson Companies, which may be delayed or not occur at all, may divert management’s attention, or may result in legal proceedings, any of which could negatively impact our operating results and ongoing business. Moreover, if we complete the Wilson Transaction, we may be unable to integrate the operations and business successfully.
  • We derive a significant amount of revenue from a relatively small number of customers.
  • We may not be able to collect amounts owed to us by our customers.
  • Our customer base has undergone consolidation and additional consolidation is possible.
  • The high level of competition in the offshore marine service industry could negatively impact pricing for our services.
  • Maintaining our current fleet size and configuration and acquiring vessels required for additional future growth requires significant capital.
  • We may not be able to renew or replace expiring contracts for our vessels.
  • Our ability to raise capital in the future through debt or equity financing may be limited, which could make us unable to fund our capital requirements or business operations or potentially dilute existing stockholders.
  • Early termination of contracts on our vessels could have an adverse effect on our operations and our backlog may not be converted to actual operating results for any future period.
  • We may record impairment charges or other losses related to our vessels.
  • We may not be able to sell vessels because we may be unable to locate buyers with access to financing or to complete any sales on acceptable terms or within a reasonable timeframe.
  • An increase in vessel supply without a corresponding increase in the working offshore rig count could lead to a decline in the charter day rates we can charge and negatively impact our revenue.
  • Our insurance coverage and contractual indemnity protections may not be sufficient to protect us under all circumstances or against all risks.
  • We operate in various regions throughout the world and are exposed to many risks inherent in doing business outside the U.S., including risks associated with foreign corrupt practices laws, acts of piracy, war, terrorist attacks and international hostilities.
  • Disruptions or disagreements with our foreign joint venture partners, could lead to an unwinding of the joint venture.
  • Our international operations expose us to currency devaluation, exchange and conversion risk.
  • Risks Related to Human Capital
  • Failure to attract and retain qualified personnel could impede our operations.
  • We may be subject to additional unionization efforts, new collective bargaining agreements or work stoppages.
  • Our participation in industry-wide, multi-employer, defined benefit pension plans expose us to potential future losses.
  • Certain of our employees are covered by federal laws that may subject us to job-related claims in addition to those provided by state laws.
  • Risks Related to Our Indebtedness
  • We may not be able to generate sufficient cash flow to meet our debt service and other obligations.
  • Restrictive covenants in our debt agreements may restrict our ability to raise capital, make distributions on our stock or pursue our other business strategies, which may have significant consequences for our operations and future prospects.
  • With our extensive international operations, we are subject to certain compliance risks under the Foreign Corrupt Practices Act, the United Kingdom Bribery Act or similar worldwide anti-bribery laws.
  • Changes to applicable laws or regulations, including any developing laws and regulations, may increase our compliance costs and operational risk.
  • Changes and developments in U.S. and international tax laws and policies could adversely affect our financial results.
  • Changes in environmental regulations and evolving environmental expectations may reduce demand for hydrocarbons, increase our compliance costs, harm our reputation and adversely affect our financial results.
  • Risks Related to Information Technology and Cybersecurity
  • Cybersecurity attacks on any of our vessels, facilities, or those of third parties, may result in potential liability or reputational damage or otherwise adversely affect our business.
  • Artificial Intelligence presents risks and challenges that can impact our business.
  • Risks Related to Our Securities
  • Our common stock is subject to restrictions on foreign ownership and possible required divestiture by non-U.S. Citizen stockholders.
  • The market price of our securities is subject to volatility.
  • We do not currently pay cash dividends, so realizing a return on your investment depends on selling your common stock for a price greater than what you paid.
  • Certain provisions and limitations on foreign ownership in our organizational documents could delay or prevent a change of control.
  • The issuance of stock-based awards may dilute our stockholders.
  • Activist stockholders could divert the attention of our management team and/or negatively affect our business.
  • General Risk Factor
  • Uncertain economic conditions may lead our customers to postpone capital spending or jeopardize our customers’ or other counterparties’ ability to perform their obligations.

Legal proceedings

See the relevant portions of Note (11) - “Commitments and Contingencies,” in the accompanying Consolidated Financial Statements in Item 8 of this Form 10-K for information with respect to this Item 3. Legal Proceedings.

The opening of Item 3, Legal Proceedings.16

Sources

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