Professional
Added to YB: 2024-07-30
Pitch date: 2024-07-21
TDW [bullish]
Tidewater Inc.
-46.1%
current return
Author Info
Praetorian Capital is a hedge fund managed by Harris “Kuppy” Kupperman dedicated to seeking non-correlated, asymmetric and absolute returns. Sign up for the newsletter.
Company Info
Tidewater Inc., together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of offshore marine service vessels worldwide.
Market Cap
$2.8B
Pitch Price
$103.38
Price Target
N/A
Dividend
N/A
EV/EBITDA
6.86
P/E
19.05
EV/Sales
2.24
Sector
Energy Equipment and Services
Category
growth
Praetorian Capital Fund Portfolio Holding: Tidewater Inc.
TDW: OSV provider up 692% since Jan 2022. Q1'22: $106M rev, $12M loss. Q1'24: $321M rev, $47M profit. 2024 guidance: $1.4-1.45B rev, 52% margin vs 2021's $362M, 28%. Old economy, cyclical oil services biz. Inflection investing works when financials improve, even in AI-focused market. Waiting for results to crystallize in other holdings.
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