Tidewater Inc (TDW)

Pretax margin

		Dec 31, 2024	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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	229,488	224,614	200,549	175,957	138,929	102,687	79,140	27,533	-2,307	-55,312	-92,094	-97,320	-123,785	-116,563	-123,171	-207,484	-197,661	-223,050	-219,657	-121,734
Revenue (ttm)	US$ in thousands	1,345,835	1,303,408	1,262,314	1,138,045	1,009,985	894,073	786,573	735,059	647,684	566,113	466,752	393,258	371,033	357,717	351,783	364,174	397,038	423,956	457,254	480,769
Pretax margin		17.05%	17.23%	15.89%	15.46%	13.76%	11.49%	10.06%	3.75%	-0.36%	-9.77%	-19.73%	-24.75%	-33.36%	-32.59%	-35.01%	-56.97%	-49.78%	-52.61%	-48.04%	-25.32%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $229,488K ÷ $1,345,835K
= 17.05%

Tidewater Inc's pretax margin has shown a significant improvement over the past few years. The company experienced negative pretax margins from March 2020 to December 2022, indicating that its pre-tax income was consistently below its total revenue during this period. The pretax margin started to improve in March 2023, turning positive at 3.75% and steadily increasing to 17.05% by December 2024.

The increase in pretax margin reflects Tidewater Inc's ability to control its operating expenses and generate higher pre-tax profits compared to its total revenue. This improvement suggests that the company may have implemented cost-cutting measures, improved operational efficiency, or increased revenue streams during the period.

Overall, the upward trend in Tidewater Inc's pretax margin indicates a positive financial performance and improved profitability, which could enhance investor confidence in the company's financial health and long-term sustainability.