Tidewater reports Q3 EPS 61c, consensus 43c Reports Q3 revenue $309.5M, consensus $303.87M. Included in the current fiscal quarter’s general and administrative expenses is a $5.2M settlement loss charge -- $3.4M after tax, or 7c per share -- related to the lump sum supplemental executive retirement plan distribution made in the December quarter to the company’s former President and Chief Executive Officer who retired earlier in the year. The settlement loss is the result of the recognition of heretofore unrecognized actuarial losses that were being amortized over time to pension expense. As a result of the December lump sum distribution, a portion of the previously unrecognized actuarial losses was required to be recognized in earnings in the current quarter in accordance with ASC 715.
News For TDW From The Last 14 Days
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On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: BHP Billiton (BHP) downgraded to Underperform from Neutral at Credit Suisse... GT Advanced (GTAT) downgraded to Underperform from Outperform at CLSA... Hertz (HTZ) downgraded to Hold from Buy at Deutsche Bank... IDEXX (IDXX) downgraded to Sell from Neutral at Northcoast... Prestige Brands (PBH) downgraded to Neutral from Buy at Sidoti... Real Goods Solar (RGSE) downgraded to Neutral from Buy at Roth Capital... Regal-Beloit (RBC) downgraded to Neutral from Buy at Longbow... SunCoke Energy (SXC) downgraded to Neutral from Outperform at Credit Suisse... Tidewater (TDW) downgraded to Market Perform from Outperform at Clarkson Capital.