Tidewater Inc (TDW)

Pretax margin

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	226,048	202,253	177,880	140,493	104,353	80,626	27,796	-1,863	-55,161	-92,264	-96,738	-123,094	-115,837	-122,440	-206,897	-197,207	-222,055	-219,210	-121,734	-114,019
Revenue (ttm)	US$ in thousands	1,276,199	1,228,246	1,101,938	971,068	881,665	771,718	719,441	628,700	536,653	440,428	369,602	342,682	328,155	322,185	334,670	376,625	428,080	462,011	485,942	486,549
Pretax margin		17.71%	16.47%	16.14%	14.47%	11.84%	10.45%	3.86%	-0.30%	-10.28%	-20.95%	-26.17%	-35.92%	-35.30%	-38.00%	-61.82%	-52.36%	-51.87%	-47.45%	-25.05%	-23.43%

September 30, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $226,048K ÷ $1,276,199K
= 17.71%

The pretax margin of Tidewater Inc has shown a varying trend over the past few quarters.

In the most recent quarter, the pretax margin stood at 17.71%, indicating that the company retained approximately 17.71% of its revenues as pretax profits. This represents a positive trend compared to the previous quarter where the pretax margin was 16.47%.

Looking further back, the trend reveals a notable improvement in the pretax margin over the past year. The company managed to turn around from negative pretax margins in the last quarter of 2021 to achieve positive margins in subsequent quarters of 2022 and onwards. This sign of recovery and profitability is a positive indicator of the company's financial performance.

However, it's important to note that there have been periods of significant volatility in the pretax margin, as evidenced by the sharp declines in the margins in the quarters of 2020 and early 2021, which reached as low as -61.82% and -52.36%, respectively. This volatility could suggest varying levels of operational efficiency and cost management during those periods.

Overall, the recent positive trend in the pretax margin, along with the recovery from negative margins in the past, reflects a promising outlook for Tidewater Inc's profitability and financial health.