Tidewater reports Q1 EPS ($11.13) with items, may not compare consensus ($43.17)
Reports Q1 revenue $115.1M, consensus $120.3M. Included in the net loss for the quarter ended June 30, 2017 were the following: $313.2 million ($313.2 million after-tax, or $6.65 per share) of reorganization items related to the Company's Chapter 11 proceedings. $163.4 million ($163.4 million after-tax, or $3.47 per share) in non-cash asset impairment charges that resulted from impairment reviews undertaken during the June 2017 quarter. $11.9 million ($11.9 million after-tax, or $0.25 per share) of debt renegotiation expenses were incurred in the quarter, which includes $6.7 million classified as general and administrative expenses and $5.2 million classified as reorganization items. $1.2 million ($1.2 million after-tax, or $0.02 per share) of foreign exchange losses resulting primarily from the strengthening of the Norwegian kroner on liabilities relative to the U.S. dollar.