- Tidewater (NYSE:TDW) CEO Jeffrey Platt says the oil bust could be an opening to scoop up smaller rivals in marine services, perhaps even as a big consolidator because the vessel contractor has a solid cash position after cutting capital spending and working budgets this year.
- But "really attractive investment opportunities will take at least a couple of quarters for potential counter parties, as valuation expectations recalibrate,” CFO Quinn Fanning said during today's earnings conference call.
- TDW shares fell 4.5% in today's trade after reporting FQ4 earnings and revenues that came in below expectations.