Tidewater Inc. (NYSE:TDW) Q4 2023 Earnings Conference Call March 1, 2024 9:00 AM ET

Company Participants

West Gotcher - Vice President of Finance and Investor Relations

Quintin Kneen - President and Chief Executive Officer

Piers Middleton - Chief Commercial Officer

Sam Rubio - Chief Financial Officer

Conference Call Participants

Fredrik Stene - Clarksons Securities

Connor Jensen - Raymond James

David Smith - Pickering Energy Partners

Don Crist - Johnson Rice

Operator

Thank you for standing by, and welcome to the Tidewater Inc. Q4 and Full Year 2023 Earnings Conference Call.

I would now like to welcome West Gotcher, Vice President of Finance and Investor Relations to begin the call. West, over to you.

West Gotcher

Thank you, Mandeep. Good morning, everyone, and welcome to Tidewater's Fourth Quarter and Full Year 2023 Earnings Conference Call. I'm joined on the call this morning by our President and CEO, Quintin Kneen; our Chief Financial Officer, Sam Rubio; and our Chief Commercial Officer, Piers Middleton.

During today's call, we'll make certain statements that are forward-looking and referring to our plans and expectations. There are risks and uncertainties and other factors that may cause the company's actual performance to be materially different from that stated or implied by any comment that we are making during today's conference call. Please refer to our most recent Form 10-K for additional details on these factors. These documents are available on our website at tdw.com, or through the SEC at sec.gov. Information presented on this call speaks only as of today, March 1, 2024. Therefore, you're advised that any time-sensitive information may no longer be accurate at the time of any replay.

Also, during the call, we'll present both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures can be found in our earnings press releases located on our website at tdw.com.

And now with that, I'll turn the call over to Quintin.

Quintin Kneen

Thank you, Wes. Good morning, everyone, and welcome to the Fourth Quarter 2023 Tidewater earnings conference call.

Before I start with my prepared remarks on the business, I'd like to mention that we've reorganized the call a bit. I'll begin today's call, but before turning the call over to Piers and Sam for their prepared remarks, I'll hand the call back to West for some perspective on vessel supply and our forward-looking guidance.

I'd like to start the call today by highlighting some of the achievements Tidewater realized during 2023 and how that drives our outlook for 2024. The past year was by all measures a successful year marked by consistent growth and robust financial results. We generated over $1 billion in revenue for the year. Revenue and gross margin improved each quarter throughout the year. We acquired 37 PSVs, solidifying Tidewater as the clear global OSV leader and the leading provider of hybrid OSVs.